When you are ready to list your home for sale, you know that you need to make it look its best, but does that mean you should do a full remodel? The answer to this question depends. A little extra time and effort on the home can help it sell more quickly, but you can easily put more money into the property than you will get back when you find a buyer, so it is a decision to weigh carefully.
Buyers Want Move-in-Ready Homes
While some buyers are looking for projects, the truth is that most buyers want homes that are ready to be moved into and enjoyed. If your home is remodeled and ready to go, it will be more appealing to them. They won’t see projects when they look at the house but will instead see their family enjoying it. In this way, remodeling can help you sell your home more quickly, making it a good idea.
Remodeling Can Be Too Costly
While buyers do want move-in-ready homes, spending far too much on the remodel is easy to do. You need to carefully strategize how much you will spend and what areas you will focus on if you choose to renovate. Small upgrades in strategic areas can often raise the home’s value without adding too much cost.
If you need to do some full remodeling, consider the most important areas: the kitchen and bathrooms. These are the spaces that sell homes, so these are where you want to spend your money and time. Forgo a full remodel in other areas of the house in favor of some updates, like upgrading the flooring or giving the space a new paint job, rather than fully remodeling.
So how can you avoid spending too much on a renovation before selling? Use a tool such as Remodeling Magazine’s Cost Vs. Value Guide to estimate how much return on investment (ROI) you will get from the project you’re considering. Choose a project or two that has a high ROI, and focus on those. The high ROI combined with faster selling time that is likely with a freshly remodeled space will make the task worthwhile.
Remodeling Takes Time
A final consideration to make when answering this question is the amount of time you have. It takes time to prepare a home to be remodeled. Do you need to sell quickly, or do you have some time to tackle the remodel before listing your home? If you are crunched for time, you may want to list the house at a lower price point and avoid the task of remodeling. On the other hand, once you list, are you hoping for a fast sale, or do you have time to wait? If you need to sell fast once you list, then remolding first could be wise as it will make your home more appealing.
Should you remodel before you sell? The answer depends on your home, its condition, your goals, and the type of remodeling project you’re considering. Weigh the pros, cons, and costs, and make an informed decision.