subject: Renovating Before Selling: Is It Necessary? [print this page] Everyone who sells their house in Australia has to consider whether or not to renovate it first. Sometimes, renovations are absolutely necessary; other times, they can be completely skipped. Knowing the difference is important, and a conveyancing solicitor - as well as the advice below - can help you decide.
The Benefits Of Renovating -
Assuming your home is a good candidate for renovations, you should think about some of the associated benefits of improving it prior to putting it up for sale. The ultimate goal, naturally, is to help it sell more quickly. A higher sale price is another important goal in renovating and improving a home. If you're able to swing it, being able to set a higher asking price for your home is a positive thing for a number of reasons. However, renovating can be a double-edged sword in that it's all too easy for the money you pour into improving a home to cost more than what you ultimately get out of it.
Things To Consider -
Prior to moving ahead with any renovations, take a moment to consider your current situation and the main key features of your home. Firstly, if you are very limited in terms of time then extensive renovations won't be right for you. The same goes for money - if your budget is severely limited then there won't be a whole lot that you'll be able to accomplish. Access a range of local and national Real Estate websites to see how your home compares in price and condition to other homes in the area, then consider your home's location in comparison to other homes with similar features and condition. If it does, then you will probably want to make renovating a top priority.
Great Reasons To Renovate -
As a general rule, if a few cosmetic changes will significantly boost the marketability of your home, then go for it. If major structural problems abound, though, tread cautiously. If your home has a lot of spare property, renovating might be more practical than it would be with a home on a small lot. If nearby homes have been gentrified, you might need to renovate to make yours competitive. Basically, if your home is undercapitalised and affordable renovations will remedy that, then they should be undertaken. As always, though, check with your conveyancing solicitor for a more professional perspective on how to proceed.
