When you are thinking of selling your home, there are plenty of variables to think about. One of the most common questions home owners debate before putting their home on the market is whether to renovate or upgrade the home before the for-sale sign goes up. In addition to your motives for starting a renovation before selling, you also need to give careful consideration to the time, money and disruption that a renovation can bring.
In order to help you decide whether a renovation is the right thing to do before a home sale, think about the following suggestions.
1. Renovate or Polish?
When you look around your home, you may notice that it no longer looks fresh and new – a quality that many potential home buyers are looking for. But does that mean you need to rip out cabinets or move walls? Not usually. Investing in professional painters to paint the house and working with a home stager can make a big difference in how your house appeals to others without delving into major renovations.
What can be challenging during renovations to a home you hope to sell is choosing finishes and designs that don’t necessarily appeal to you. Remember that you are renovating to sell the home, not live in it! That means that while you may love a yellow bathroom and floor to ceiling marble, choosing simple and clean options will help ensure you get the money back from the work that went into the renovations.
3. Pick the big winners
If you feel that renovations will really help you sell your home for the price you want, meet with an experienced contractor and tell them about your goals. They can help you decide where to best spend your money. Big ticket items like renovating the kitchen, upgrading bathrooms or finishing the basement are your best bets when it comes to completing renovations that will add value to your home.
4. Time and budget
Be sure that the renovations fit into the timing that you have for selling your house. Keep in mind that there can always be delays in any renovation project and if you hope to sell your home in a certain season or by a certain deadline, you have to be cognizant of how a renovation may impact that. Similarly, because you are investing in something you don’t intend to keep, it really is important to stay on budget! Keep open communication with your contractor and be sure they are away of what your budget limitations are.
There certainly is truth behind the idea that you can get more money for your home if you take the time to upgrade certain features but it’s not as easy as it seems. It can be tempting to tackle some larger projects on your own to save money, but wisdom and experience will tell you that working with a professional contractor will get you better results – both in quality and in the return on investment you are looking for.
Domilya Group is an award winning, experienced contractor serving Oakville, Mississauga and surrounding areas and would be happy to help you navigate any renovations you are considering before selling your home. Call us at (647) 300-1242 to book a free estimate.