In case you’re thinking about redesigning your home before you show it, investigate these three tips to assist you with choosing if you truly need to do it before you sell. The results may shock you.
With the spring season upon us, change is in the air.
For many families, children are growing up and moving out of the house, maybe getting ready for spring break or taking a jump into the working world.
Parents are finding themselves having more space than they need for the first time. The question inevitably arises: is it finally time to downsize?
If you’re wondering about this then, you may also be wondering if you should fix-up your house before you sell it, or go straight to the market as-is, allowing a potential buyer to do the updates and remodeling.
If you’re one of the many homeowners one the fence, here are a few tips to help you decide which way to go.
1. Analyze Your Market
A real estate professional can help you to understand your market and the potential level of buyer interest and demand for your home.
Contact me today and I will help you to find out what your home is worth. Are you in a seller’s market or a buyer’s market?
This can change based on the price range of your home, too.
A professional can also give you some insight on what you can change or remodel, and how to declutter your house to make it attractive to buyers in your area.
2. Get an Inspector
Right now, the average length of time a family stays in a home is between 9-10 years.
That’s a little longer than the historical average, so if you’ve been living in your home for a while, it might be time to make some significant improvements.
Getting a inspection also helps you discover whats wrong with the house so that you can properly fill out the Seller’s Disclosure form.
The inspector will check out the electrical system, HVAC units, roof, siding, etc.
An inspector can give you a better idea of the condition of your home, if it is up to current code standards, and recommendations on how to have your house ready before you put it on the market.
3. Decide If You Need to Remodel
You may also be thinking about doing like a kitchen or a bathroom remodel. If so, first dig into the market value of your home, and compare it to the actual cost of the remodel.
A local real estate professional can help you determine your home’s market value, and you’ll want to get a few quotes from contractors on the potential remodel pricing as well.
Once you have those two factors narrowed down, you can to decide if a remodel will give you a return on your investment when you sell.
Oftentimes, it is actually more advantageous to price your house to sell, list it competitively, and then let the buyer pick the colors they want for their bathroom tiles and the type of countertop they prefer.
The 2019 Cost vs. Value Report in Remodeling Magazine compares the average cost for remodeling projects with the value those projects typically retain at resale.
Bottom Line
Nationwide, inventory is low, meaning there is less than the 6-month housing supply needed for a normal market.
This drives buyer demand, creating a perfect time to sell. If you’re considering selling your house, let’s get together to help you confidently determine what will be the best choice for you and your family.