Knowing what renovations to do to earn the most for your home sale is a key part of the home-selling process.
The question that’s front and center for every seller preparing their home for the market is, “What renovations do I need to make to earn more money on my home sale?” Since we’ve received this question a number of times, we’ll address it today.
Perhaps the question requires a little re-framing: “What do I need to do to sell my home within my desired timeline and also see a bigger return?”
Part of assessing the worthiness of renovations is deciding how long you plan to live in the property. If your plan is to live in the home for quite a bit longer, ask yourself: Am I going to enjoy the change?
In addition to that, figure that renovation into your expenses. Will it save you money in the long run? Adding more insulation to your attic, for example, will bring about more energy efficiency, which helps to cut homeownership costs.
For some, certain features of the home simply aren’t functional as is. Take some current buyer clients of ours: They’re in the process of purchasing a 4-bedroom, 1.5-bath home, and their aim as new homeowners will be to add another bathroom to this century-old property. Granted, this won’t be a cheap endeavor, but once it’s completed, it’s sure to ramp up the saleability of the home in the future.
Beyond just that, though, if your home isn’t competitive in your specific market, seek the expertise of a real estate professional and a professional renovation company who can both give you a sense of what your renovations will cost. An agent can lend their expertise in helping you understand what that will mean for your resale.
By visiting this website, you can see the comprehensive 2019 remodeling cost versus value report.
The No. 1 seller slip-up is over-improving your home, which is an easy mistake to make; making improvements above and beyond your neighborhood or competitors in the market can be especially dangerous.
When you list your home with us, we’ll hire a professional stager to create a list that’s specific to your needs, and we’ll also make suggestions for some cost-effective improvements.
If you’re closing in on selling your home, don’t hesitate to reach out to me and my team so we can help you make good decisions for your home renovations. If you have any questions, please reach out to us as well. We hope to hear from you soon!