How to Know if You Should Renovate Your Home Before Listing & Selling
Faith Led Interior Design Show | Episode 40
We all know that buyers are turned off by a big to-do list when it comes to a new home. But is a renovation really worth the hassle, time, and investment?
Are you getting your home ready to sell?
Are you feeling unsure about whether you should renovate it first?
It can be difficult to know if the time, effort, and investment will be worthwhile.
In today’s episode, I share my top do’s and don’ts for taking on projects before listing your home. So if you are planning to renovate your home before selling it, this is a must-listen.
Follow the Faith Led Interior Design show on Apple Podcast, Spotify, or Google Play.
Listen to the Episode
Be Blessed Verse
This week’s verse is Psalms 16:7-8 TPT
It says, “The way you counsel me makes me praise you more, for your whispers in the night give me wisdom, showing me what to do next.”
I am always asking the Lord what to do next, but this is another level, in the night He gives me wisdom! That is so cool!
How to Know if You Should Renovate Your Home Before Listing & Selling
When do people ask me if renovating will get them more money for their sales?
Usually, the answer is yes if it is cosmetic, paint, flooring, or countertops, and it is no if it is a large, major project. That is, of course, if there is something unsafe, that would definitely have to be fixed.
But, I like to ask them, do they have the money to invest in renovations?
On average homeowners who do cosmetic or minor renovations before selling has a good ROI. They can expect an ROI (return on investment) of 40-50%. Which is a pretty good return on investment.
The amount of work you put in, and the quality of the materials used, will influence the overall return.
Before renovations or selling. it's important to do a cost-benefit analysis.
Finally, don't forget other factors like your local market conditions and buyer preferences. These can have an impact on the sale price of your home. Be sure to do some research before making any final decisions.
Tip #1: Take Care of Major Issues So Your Buyer Won't Have To
It’s important to keep potential buyers in mind when preparing your home for sale.
Buyers don’t want a lot of extra work on their hands when they buy the property. Many buyers can’t visualize well and they think that it costs way more than it does to remedy the problem. So be sure to take care of any major issues with the house before listing it.
Some major items could include fixing any plumbing or electrical problems.
You may need to replace old appliances.
Sometimes repairing broken windows or doors, and addressing any structural damage is needed.
You may also want to think about making smaller upgrades that don’t need a lot of time or money. This could include painting the walls with a fresh coat of paint. This can be a game-changer! It is amazing what paint can do!
Also, updating outdated fixtures, lighting, and hardware is an easy fix.
It’s also important to go through the house thoroughly to make sure there are no hidden issues.
Having these items taken care of will give potential buyers peace of mind. It makes them feel that the home is in good condition, has been very well taken care of, and is ready to move in.
Tip #2: Resist the Temptation to Add On Livable Space
It may be tempting to add on livable space when preparing your home for sale. This can often be a costly and time-consuming investment. And one that doesn’t actually yield the desired results.
Here is an alternative to adding more space: It may be better to focus on modernizing and optimizing the livable space you already have.
Some items are usually great ideas for pre-sale investments such as quartz or granite countertops, stainless steel appliances, or hardwood floors.
Painting (as we talked about before), can make a big impact. These can change the look and feel of your home and do not require a major construction project.
Doing so can help you get more out of your listing price. Also providing potential buyers with a modern space they’ll love.
Tip #3: Update the Old, Worn Finishes that Date Your Home
A few small changes can make a huge impact on the look and feel of your home for sale.
Choose modern finishes that will still fit in with the original style of your home.
Update the finishes. It doesn't have to be expensive. There are many affordable options readily available.
Check old and worn items such as outdated light fixtures, honey oak cabinets, or dated hardware. Many times tile and an '80s-style backsplash can quickly date a home.
Make a few small changes to these old finishes.
Homeowners can make their home look far more modern and updated. It is amazing!
A home can be converted to appear very updated and current.
Tip #4: Get the Space Professionally Staged for Photos & Showings
Yes. Staging and professional photography can help buyers visualize themselves in a particular home.
They also help properties sell quicker and for more money, according to the Real Estate Staging Association (RESA), of whom I am a member.
According to Realtor.com, on average, staged homes sell 88% faster and for 20% more than nonstaged homes. That is nothing to sneeze at.
This means that staging could add thousands of dollars to the offer price of your house.
Additionally, staged homes typically spend less time on the market than unstaged homes. This means that you could get your house sold quicker and have cash in hand much faster.
Lastly, it is very important to use a professional photographer/videographer.
Use a professional photographer to take pictures of your home. For the sale or listing this is important.
Professional photography will show off your home's best features. The pictures come out looking crisp and clear. This accurately represents the space. It also gives potential buyers an idea of what they are buying.
Using professional photography the photos are eye-catching. They draw attention to the key selling points of your home.
As a result, professional photography can help to make your home stand out in the market. And attract more attention from potential buyers.
Professional photography is another way to help to maximize the value of your home. It can help get it sold usually for more and quickly.
So are you ready to attract your dream buyer to the signing table?
Take the guesswork out of it.
Contact us and let's get started.
It all starts with a discovery call. Go here and sign up for a 30-minute discovery call.
I would be happy and honored to help you get things going, whatever that may be for you!
I pray that the Lord is with you this week, delighting and rejoicing over you with singing.
Psalms 16:7-8 TPT. The way you counsel me makes me praise you more, for your whispers in the night give me wisdom, showing me what to do next.
Next week, I will share about How to Prepare Your Home For Easter or Passover.
Spring is in the air and it is such a wonderful time to freshen up your home design!
Now, Stop Dreaming, Start Designing your luxury home within your budget!
Blessings and See you next episode…
Resource
Take the quiz here to determine your Interior Design Personality.
Browse samples of the furnishings that can go with your style here.
