The Pros and Cons of a House Renovation When Selling
Selling your home gets you noticing everything that needs to be touched up, replaced or repaired.
You might be tempted to do a complete house renovation before putting your house on the market, but doing a full renovation is costly, and there’s a good chance you won’t recoup that cost.
Nonetheless, you do stand to make more money selling your home if you focus on updating or repairing certain areas and issues in your home first.
What Is the Best Plan for Your House Renovation?
Most experienced realtors will advise you to start with this step:
Tackle the Kitchen and Bathroom First
If done thoughtfully, improvements made to the kitchen and bathroom are most likely to create actual equity.
Countertops and Cabinets
These are the logical first place to focus since they the largest and most visible components of your bathroom and kitchen.
If you’ve got old laminate countertops, replace them with something more modern. Ceramic tile countertops might still be in good shape, but most buyers don’t want them.
Cabinets that are in bad shape need to be replaced. If they are still in good shape, you may be able to get away with re-facing or repainting them.
Fixtures and Hardware
Next, move to the fixtures and hardware in the kitchen and bathroom. Sometimes simply replacing outdated fixtures and hardware can make a big difference.
Keep in mind though that choosing high-end fixtures and hardware can add up quickly.
Sinks
If they’re old, outdated and looking worse for the wear, remove and replace those sinks. Fortunately, kitchen and bathroom sinks are relatively easy to remove and replace yourself.
Once you’ve tackled the bathroom and kitchen, it’s time to survey the rest of your home. As you do so, follow these suggestions:
If You Can, Do It Yourself
Consider this. Laying new solid hardwood at $20 per square foot is a huge expense, but borrowing an orbital floor sander and sanding the floors yourself is not.
So then why hand over 1,000 square feet of Brazilian cherry to the new owner when you can merely refurbish your existing floors?
And remember the magic of paint in your home renovation. It can work wonders to transform your home. Especially when you choose contemporary colors.
Think Appearance First
Obviously, things such as appliances, as well as electrical and plumbing fixtures must be in compliance with building codes and in working order.
But beyond that, your best bet is to spend most of your money on cosmetic fixes rather than functional ones.
For example, if you’re trying to decide whether $800 would be better spent on painting the walls or getting a new water heater, go for the former, because potential buyers are not going to be impressed with a new water heater. And if the home inspector says a new one will be needed soon, you can always deduct it from the sale price.
How something looks, on the other hand, is not negotiable. Aesthetics need to be at the top of your list.
What Does “Move-In” Condition Mean to You?
That’s the ultimate question.
Just make it your objective to get your home to move-in condition - a home that potential buyers can start enjoying right away rather than having to spend time and money fixing it up.
Still have questions? Feel free to contact us. We’re happy to share our house renovation expertise.