You’ve finally decided on placing that large “For Sale” sign in front of your house, yet now you are having doubts about the very best moment for it. Can you do it after the renovations, or should you let the world know about your intentions of selling right now? Also, do you even need to redecorate your home, when you haven’t done it for years beforehand? Unfortunately, the answer depends on a lot of factors, but we will guide you, step by step so that in the end you can make a decision for your own particular situation because no two homes are the same.
Is the timing right?
The fact that so many people tend to oversee is time management. Just how much in a hurry are you? When would be the ideal time to sign the sales papers? Rushing is always risky, and in case you would like to hand over your keys as soon as possible, then it is quite probable you don’t have enough time for all the renovations you wish to do. In that case, you can choose simpler ones, that will add value and attract potential clients. Make sure your property looks appealing on photos when listed on a real estate website, so check some other listed properties nearby, to get an idea.
Speaking of easy home redecoration, here are a few that hardly require anything else but a bit of your time (and rolling up some sleeves, of course):
Increase the curb appeal – you can’t expect many a buyer to come knocking on your front door if the garden is a real mini jungle, or if the gate looks old and rusty, and the driveway could use some sweeping. Therefore, mow the lawn regularly, and plant a few succulents or local species to encourage a healthy ecosystem. Make the house number visible again and repaint the garage door for a fresher look.
Declutter – the interior should be squeaky clean, without unnecessary items lying around. If you’re not going to use something anymore and it does not qualify as a cherished and beloved reminder of the times past, either toss it or give it away. Also, remove the family photos as that will make it easier for a buyer to picture themselves in your house.
Fix what needs fixing – if it’s more than obvious it’s high time you painted the interior, do it. The same goes for anything that’s not functioning right, be it a dripping tap or a socket.
What’s the real value?
The main reason why anybody is tackling a house renovation project prior to selling the place is that they wish to obtain the highest possible bid for their home. On that account, one of the first things you should do is estimate the value of the house. No matter when you have purchased it, things have definitely changed over time, affecting the real estate prices in the neighborhood. There are several ways around this.
You could start by visiting open houses in your area to get a clearer picture. Also, drop by the local auctions, or go to house inspections. Furthermore, one of the best ways of determining how much money you can expect is to get a property value report. Finding out what your home is worth has never been easier thanks to these free online tools that reveal information regarding the property, such as the general price guide, the property’s sales and rental history, along with additional relevant information. Information that you can collate from these reports will provide you with the most realistic estimate, based on facts, rather than a subjective feeling of how your home might compare to others in the area.
No ROI, no deal
So, in case you’ve got enough time and money, and you really wish to increase the value of your home, you could opt for redecorating. Naturally, you should consider those improvements with the highest return on investment. For this reason, avoid setting up a swimming pool, for example, as they are high maintenance and generally not a deal breaker. Instead, focus on upgrading the kitchen and the bathroom, as these are the most valued by buyers and can bring the highest ROI. A kitchen renovation can add up to 12.5% to the home’s value, and if you decide to add one more bathroom, the price will increase by 8.7 %. Interestingly, the latter pays off more than if you were to add a whole new bedroom.
Prior to making the final decision about your home renovations, take all of the above into account. Determine what your true priorities are, and then it will be clear what renovations you should invest in, if any at all.
