You’ve made the decision to sell your home, which was probably a tough one to begin with. Now, you’re faced with the decision of staging it and listing it “as is,” or updating it before putting it on the market. The answer to the question, “Should I update my house before selling?” is not a “yes or no” question. Instead, it’s a “maybe,” or “it depends.” We’ve come up with a few qualifying questions to help you decide. And, if you do elect to update, we’ve included a list of the best home renovations you may want to complete to get your money back on your investment. To answer the question of whether you should update your home before selling, you first need to ask yourself (or your real estate agent) the following questions:
- How is the market in your area?
Is the market hot or cold? How quickly are comparable homes selling? Are they selling near the asking price, or for thousands less? If the competition is tough, it may be better to update in certain areas.
- What is the condition of comparable homes?
Attend a few open houses, and look at pictures online of homes in your area. Do most of them have new hard-wood floors or updated kitchens, etc.? If so, you might want to consider updating.
- How fast do you want/need to sell?
If you need to move quickly, you may want to do everything possible to get the highest price in the least amount of time. Updating may be necessary.
- How much is your listing price affected?
If you decide to sell “as is,” and your home is a “fixer-upper,” buyers will be looking for a steep discount. This is something you will need to consider when deciding whether to update or not.
Let’s say you’ve done your research, and you’ve decided to tackle some home repairs or updates. You’ll want to spend your time and money wisely. The following upgrades are ones that have proven to be worth both…
Some people might even say, “You’re not selling your home, you’re selling your kitchen!” That’s how important the kitchen is. So, it’s no wonder that it is, without a doubt, the upgrade that pays off. Of course, don’t go crazy. Pick and choose which updates you think are most important. If your appliances are still in good working condition, focus on the countertops and flooring, and vice versa.
One of the first things a buyer notices when they walk into a house is the flooring. Is it dated or worn? If so, all they see is dollar signs. Large and airy ceramic or travertine tile and hard wood floors seem to be big sellers at present. Do your research to see if the investment would be worth it in your case.
The Master Ensuite
Buyers are looking for luxury and a spa-like experience in their master bath. Wooing them is easy when you do the work for them. Jetted tubs and double headed showers may be in order. Recouping the money on this project has proven to be fairly easy in the right markets.
Landscaping speaks volumes to homebuyers who do not have the know-how or desire to put in the hard work of planning and planting. Everyone wants a lush lawn, and maintaining a garden-like front yard is much easier when the work is already done. Plus, there’s a bonus to this one! Creating curb appeal makes more buyers want to come inside and take a look!
Again, before you decide to go through with any renovations, research the market in your area; specifically in your neighborhood. If homes are flying off the market without upgrades, spend your time and money on cleaning and sprucing the house up with fresh interior and exterior paint, and stage, stage, stage! As always if you need help selling your home or for more staging tips the Jackie Ellis Team is always one call or click away! Call us at 561-965-1225 or visit JackieEllis.com