Have you ever thought about selling your house, but think that you need to do some work to it before you sell? Today we’re talking about the pros and cons of making improvements and remodels on your home before you sell it.
Many times, Realtors will encourage you to do some staging, which is a term for making your property look the best it can so you can get the highest price. Staging requires careful planning, and if your house is dated compared to what else is on the market, you’ll need to start the planning early.
Realtors are generally happy to advise you to make any and every repair because that makes the property easier to sell. However, it’s not always in your best interest. I take a more consultative approach. The top price isn’t actually what matters. What really matters is what you net at the end of the transaction.
I’ve seen sellers spend $20,000 renovating their kitchen, but only sold their home for $10,000 more than they could have if they didn’t do anything. That’s a net loss. We don’t want that to happen to you.
You need to know which home improvements are going to increase your ROI and your bottom line. The focus is not on the highest sale price, it’s on the highest net profit from the sale.
Sometimes, you may just need some light enhancements and some deep cleaning. There are plenty of inexpensive things you can do to enhance your home’s value. I’ve seen many cases where a seller spends a lot of money and fixes up their house, but it’s not what the market likes. That’s another mistake you can avoid with careful planning.
If you’re thinking about selling your home but you’re not sure what you need to do to prepare it, don’t hesitate to reach out via phone or email today. I’d be happy to meet with you and discuss your personal situation.