Should You Renovate Before You Sell?

Should you renovate before you sell?……

You’re thinking about selling your house, it’s likely that you want to know how to make sure you’ll get the best price for it. The money you walk away with might be the difference that means you’re able to afford your dream home, live in a certain neighbourhood, or take a long holiday.

One way many people try to boost the value of their homes is with renovations. Home improvements can be as small as repainting, or as large as an extension.

Every seller wants to achieve the maximum sale price for their property, and a quick renovation could make the difference.

• Looking at the houses for sale in your area, is there something they all have that yours doesn’t have? Are you able to add that element to your property without vastly altering the existing footprint of the house?

For example, if all the properties in the area have solar panels or an ensuite, you may consider updating your home to compete with the other houses on the market.

• Work out who your ideal buyer is before you spend any money. Analyse the demographics of your area and then look at renovating to target them.

For example, If you’re targeting families, make sure your backyard is fenced and secure. If you think your place might suit a single parent, you could spend some money on security screens or alarm systems. Retirees might appreciate an easy-care lawn or a backyard shed.

Other areas to consider of any structural issue – One of the most important things:

The most important thing to do if you’re selling your home is to fix any outstanding structural problems. Anything wrong with the structural integrity of your property can massively impact the value of your home. This is because structural issues can make it difficult for buyers to get a mortgage. So, if you don’t fix the problem before you sell, you’ll limit your pool of buyers to just those who can purchase in cash. Usually this means you’ll have to sell for less too.

The sort of structural issues that should take priority when you start renovations include:

• Subsidence
• A leaking roof
• Missing roof tiles
• Rising damp
• Structural cracks in internal or external walls
• Bowing walls
• Rotten joists or roof timbers
• Insect infestations – particularly woodworm, which burrows into timber and destroys its structural integrity

Repairing these issues are likely to be the most expensive type of renovation. But, they will also add a huge amount of real value to your property. They can even be the difference between whether you’re able to sell or not.

Start your research by talking to your local real estate agent. In many cases, you can fix up a few things rather than doing a full-scale renovation. Remember once you have completed any revocation, contact me and I will stage your home to help you get the maximum selling price.