If you are thinking of selling your property, the thought of freshening it up may cross your mind. However, it might be wise to be informed completely before moving ahead with a renovation
. Depending on the market, potential buyers, and the overall state of your house, a remodel might help immensely in driving the sale and in improving the overall presentation of your house. People look for attractive styles and modern designs when they are in search of a new home so introducing some change before selling can aid you in getting the top market value
for the house. Here are some tips to guide you. Before you begin to get some work done, take a look at the current condition of your home. Performing an analysis will help you plan the right amount of possible changes you could make on the property. Any major or minor repairs required should be tended to first before starting a renovation
. Potential buyers look for the functional value of a house too. For instance, if there are cracks here and there or water leak problems then they will give a bad impression to prospective buyers, which you want to avoid. Home inspectors will also perform an evaluation, and any problems will be highlighted to the buyers. This will lower the value of your home or drive the buyers away completely. Additionally, consult with a professional realtor. They can aid you in getting an idea of the amount of work required or let you know if selling as-is might be better. Every area’s market is different so there is no one solution for all homes out there. The Chloe and Clara Real Estate Team have a lot of experience in renovations and what changes can be done to get top dollar for you home. We also have trusted vendors and industry professionals that we can refer you in order to make it as easy as possible for you! You probably don’t want to break your whole house down and build it completely new from the ground up, but you don’t want to cheap out as well. The key is to not over-do it. You should keep in mind that the home updates
you invest in should get you some return too.You can keep things in your plan before selling the house:
The first impression is the last. Although relatively simple and inexpensive, a paint job helps drive the value of the house up significantly. You can also tackle this as a DIY, removing the need to hire someone for a fresh coat of paint, which will help save labor costs. Survey the market and take some advice from professionals to determine a good choice for the color to use. Neutral colours work best but it depends on the market. Painting
the walls, doors, cabinets etc significantly improves the outlook of your house and makes it more inviting, thus making it a worthwhile investment.
Another simple cosmetic change you can do is to update the lighting
around the house. It can range from simply replacing burnt-out bulbs to replacing light fixtures entirely. Take note of faulty switches as well. Even subtle changes can improve the buyer’s experience. Adding ambient lighting
- soft and bright bulbs can work wonders. Any type of darkness gives a bad impression that something is hidden so it’s better to avoid it wherever you can. Take your exterior into consideration too. Along with new paint, good exterior lights also improve the impression your house makes on anyone pulling up to your door.
● The 2 main rooms:
Two rooms are more prominent in a buyer’s eyes when inspecting a house for sale: the kitchen and bathroom. People are more likely to lose interest in a potential sale. Now, this doesn’t mean that you completely remodel them but a few changes go a long way. To keep them looking good and fresh, there are many possible options for you. A few examples include updating the taps, cabinets, tiles. You can get a higher return on your investment this way without spending too much. Moreover, the buyers feel like they have less added costs if the kitchen and bathrooms are up to the mark.
● Outside work:
Before the buyer checks out the indoors, they will judge the outside first, so make sure it is welcoming as well. This is known as the curb appeal
of your house and increases or decreases the chances of a buyer to consider buying it. To improve the exterior look, there’s a bit of landscaping involved. Tidy up your front yard to make it look even better. Trimming your lawn, removing dead plants, and adding bright coloured flowers enhance the beauty of your home. This can be undertaken by yourself as well. Not only this but other changes also help you in getting the top market value
for your house. For example, changing the garage door, cleaning the driveway and walkways, making outdoor sitting spaces, new siding, and a newly painted front door all help greatly in improving the looks of a house. Exterior work is lighter on the wallet as compared to interior renovation
, and it helps in attracting more buyers.When you are planning and executing a remodel of your home, it’s important to consider that the changes you have in mind or your tastes may not be well-received by the buyer too. Think from the buyer’s perspective when modifying the house. Focusing on adding personal touches will do you no good, instead, understand the market and act according to it. A professional real estate agent will help in understanding the dynamics of the market in your area.Some buyers might prefer a house with no work required, in other words, it should just be ready to live in without added renovation
costs. On the other hand, some people fancy a house with some work or fixes required and don’t mind the costs and time required to make those changes.When the time comes to advertise your house listing, you need to consider several things. Considering many circumstances, there is always a doubt in the seller’s mind whether they should do the renovations
or not. The process might seem daunting but it is for your good. Picky buyers do a lot of criticism. However, if you won’t leave a single doubt then there is no way to not convince them. They will choose your house when they find the renovated house attractive among other options.Several benefits are attached to the renovated house. Let us see some of the reasons that might help you in making your final decision.
● Catches buyer’s attention:
If you want to sell your house at top market value
, it is crucial to catch the buyer’s eye. They are strangers to you and it is your responsibility to catch them first. A neat and clean house attracts everyone.Buyers prefer a house that is readily available to move in. Wasting time and further money over the house that they are buying seems unfavourable to them. To attract buyers towards your listing, renovation
is the go-to idea. A complete and renovated house will be preferred and easy to sell. Buyers might make a good deal due to the FOMO(fear of missing out). Never forget this chance because if you have got the best buyer only then you can catch the best rate.
● Provides Best Rates:
Every house owner wants to get the maximum possible money as a result of the deal. Renovating the house becomes a reason to avail the opportunity of best rates. It automatically increases your house value. Renovating your home would mean that by raising the value of your home. Renovate old rooms to make the building more enticing. The kitchen and bathroom are the two rooms with the highest profit margin.Modernizing is another way to add value. Buyers looking to save money on energy bills would be interested in replacing old windows and installing insulation. Houses that eat less money daily, are more likely to sell early. It is a two-way process: you invest in your property and it pays you a worthy amount in return.
● Encourages quick sale:
When putting up a listing, it is normal to wait for weeks before you seal the deal. However, you wouldn’t want to go months without getting an offer at all. You may prefer to sell the house in a short time and be done with it.When you remodel your home, it becomes prominent and attractive, making it stand out in comparison to other listings. This increases demand and helps in a quicker sale since buyers are more likely to invest in a home that is up to the mark in terms of repairs while looking modern.
● Represents your responsibility as a homeowner:
Buyers make their mind to make the biggest investment of their life when they think of buying a house. This is the reason why they want everything perfect. When a person is spending money on something then it is obvious that they need the best results in return. It gives a sense of satisfaction to them.A well-maintained house is always preferred. Renovated house leaves your impression as a responsible homeowner. Your house speaks for itself and on your behalf as well. When there is quality work with less risk, then there is a hope of getting multiple worthy offers.
● Makes your house neutral:
When you have spent a lot of past time in the house that you are selling, then there are chances to have your memory attachments there. Maybe you have kept the house in a way that you liked. However, it is not recommended to keep it the same because buyers do not want to keep your memories with them. During your family and friend parties, you might have had some touches, cracks, and fingerprints on your walls. It is very unethical to leave such things for the buyer.Your aim should be to make efforts for getting top market value
from your client. The painting
process during a renovation
can clean your marks from the house. It will be even more appealing to many clients then.There are many benefits to home remodel before selling. However, there are some things to keep in mind before going full steam ahead:
● Don’t over-do it
It is easy to get carried away and make excessive changes to the house, but it could backfire at the time of sale even if the house looks good. The costs incurred during the renovation
may not be returned from the sale and you may face a loss. So it’s important to keep check of the changes you’re doing on the home while maintaining a cost and value analysis.
● Focus on the purpose of improvements
Even though some alterations may increase the looks of your property, they don’t need to add value too. If any required repairs show up after inspection, it is better to tackle those first so that the functional aspect of the house is maintained. Ignoring such repairs and spending on cosmetics instead will decrease the value at the time of sale. Buyers will appreciate having to do lesser repairs as compared to useless additions.
● Don’t personalize:
People make this mistake and think they would leave the beautiful accent walls they painted like the same for buyers. Buyers do not like the concept of living in someone else’s personalized space. Eventually, the house requires renovation
. It is better to start thinking of neutral ways to renovate your house. You can surely go to provide some modern look to your house. However, your main focus should be to provide a decent non-personalized renovated house to the buyer.Every seller wants to make their home appealing to everyone who visits, particularly when it is on the market. Some people believe that investing in renovations would result in a better return, but this is not necessarily so. Real estate is, as previously said, a risky business. Before you agree to a home update plan, thoroughly consider the benefits and things that you should avoid.
You won't have to think about the frustrating sale process anymore now that you are aware of many benefits, tips, and tricks of renovating your home before selling. As one of the Top Real Estate Teams
in Edmonton, we are here to guide you! Don't hesitate to reach out for questions