Is It Worth Renovating Before You Sell?

All sellers want to achieve a fast and successful sale, obtaining the best possible price for their property. There are so many factors to consider when you’re preparing your home for sale, and one of the key questions is whether to renovate or sell as is. If you’re leaning towards renovating before you sell, check out our helpful tips and make the most informed decision about your property sale.

Focus On Essential Repairs First

You don’t want to overcapitalise on your property, so if you’re confident that improving your property will increase your chance of a successful sale, focus on the essential repairs first. What are the major issues with your property that could put a prospective buyer off — or cost you money when they discover the defect during a building and pest inspection. Tackle these jobs first, then look at other ways to improve the presentation of your property. Some simple, affordable improvements can make a big difference when your home hits the market. Some quick and easy improvements could include painting your exteriors or interiors, adding new light fittings, refreshing the bathroom or kitchen and creating a more attractive and useable outdoor entertaining area.

Don’t Underestimate The Value Of A Good Tidy Up

Have you seen properties online that are poorly presented? They’re not very appealing, are they? If your home suffers from that ‘lived in look’, it might be a good time to see your property with fresh eyes. If you’re drowning in a deluge of clutter, or it’s been a while since your last major clean, make sure your home is photo-ready by tending to those outstanding tasks. While getting your home ready for sale can be a chore, you’ll be happy you put in the hard work once your property hits the market.

Take The Emotion Out Of It

While you may have liked to renovate your bathroom, making the decision to renovate before you sell should not be an emotional decision. You should treat is a business decision and stay focused on the potential financial gains or losses involved with the renovation. Research similar properties in your area to see if there is a demand (and profit) in renovating your place. Also speak with your agent to determine what buyers in your area are looking for. There’s no point renovating your property if your agent doesn’t believe it will add substantial value to your home.

Research, Research, Research

Renovating a property can be a smart investment — or an unnecessary expense. You should always get your property appraised before you decide whether to renovate it or not. Your agent offers a wealth of knowledge which can help you avoid those pitfalls. From buyer expectations to market conditions and how much competition your property will have once it goes up for sale, knowing where your property stands will help you make the right decision.

Are you ready to make your next move? Connect with Your Choice Realty today by calling our Forest Lake office on 07 3278 9200. You may also request a property appraisal online; just fill out our convenient online enquiry form and we’ll be in touch.

* The views and opinions expressed in this blog are those of the authors and do not necessarily reflect the official policy or position of any other agency, organization, employer or company.