However, some homeowners who wish to sell instead choose to save for what they believe are necessary renovations and wait to list their home until these renovations are complete. They are hoping these improvements will help sell the home for even more than they plan to invest. However, rarely does the seller recoup all they invested, and they may have also missed the opportune time in the market.
Renovating with the intent to sell is a good idea when the right renovations are chosen. Instead of costly renovations, the focus should be on merchandising your home with the goal of making small changes that will help your home appeal to a wider pool of buyers.
The seller benefits by:
Of course, if you are not planning on a move for several months or years, consider doing the work in order to benefit from these renovations now. Oftentimes we see sellers fix up their home to sell and regret not having done it sooner. We encourage homeowners to make a list of the items in their home that aren’t working and make a plan to fix these items so they can spend more time enjoying the fixes instead of just doing them for the benefit of the next homeowner.
Some common and inexpensive changes homeowners can make for the intent of merchandising include:
In terms of deferred maintenance, addressing items such as the roof and siding (making sure these are in good repair with no leaks or missing pieces), making sure the insulation and crawlspaces are in good shape under the house, cleaning the decks and driveway of any mildew and excess dirt, making sure the heating and cooling units have been serviced recently, and the plumbing has no issues. This is just a quick list. We recommend going through each inch of your home and making sure there are no obvious issues which could alarm a buyer or be an issue during the inspection.
For ideas on how to maximize your home’s value with minimum expense, give us a call at (864) 214-0311 or send an email to samantha@dev.carolinasuccessteam.com. We’ll be glad to point you in the right direction for renovations that won’t cost you much but will give you a big return when it is time to sell.
Take a look inside our Carolina Success Teams Guide to Preparing Your House Ready to Sell ebook: