Renovate Before Selling: Worth the Investment. When it comes to selling a home, the distinction between renovating and updating is significant. Renovating involves extensive changes like demolishing walls or redoing entire bathrooms, while updating focuses on cosmetic enhancements such as repainting or changing light fixtures.
Renovations are undoubtedly more costly and time-consuming, leading many sellers to resist them. However, brokers argue that renovating actually facilitates sales. According to Robin Kencel, an associate real estate broker at Compass Real Estate in Greenwich, Connecticut, buyers often prefer move-in-ready homes over those requiring extensive work. The appeal lies in the fact that someone has already done the necessary renovations, sparing the buyer from the hassle.
To attract potential buyers for your home, it is crucial to keep everything neutral, advises Elson.
“Any work or updating you do should be as generic as possible,” she emphasizes. The goal is to appeal to a wide range of potential buyers.
Bold choices such as flowered wallpaper in the bedrooms or painting the bathrooms in funky colors might actually deter people. By adopting a neutral aesthetic, you create a blank canvas that allows buyers to envision their own preferences and personal style in the space.
If you’re considering renovations, directing your attention and budget towards the kitchen and bathroom is a wise choice.
According to Kencel, these rooms typically provide the highest return on investment, often recouping the expenses dollar for dollar. However, it’s crucial to ensure that your changes align with the buyer’s preferences. For the kitchen, opt for a crowd-pleasing aesthetic with elements like a subway-tile backsplash, white cabinets, and a neutral wall color. Similarly, when updating the bathroom, avoid introducing bold choices such as orange shower tiles. By prioritizing these areas and sticking to timeless designs, you increase the likelihood of appealing to a wide range of potential buyers and maximizing your returns.
According to Kencel, buyers are generally reluctant to immediately invest in replacing mechanical systems or taking on deferred maintenance work.
Neglecting crucial infrastructure elements such as outdated electrical outlets or a leaky roof can raise red flags in the minds of potential buyers. To alleviate these concerns, it’s essential to address these issues before listing your home.
By proactively fixing and maintaining the infrastructure, you not only avoid deterring buyers but also instill confidence in the property’s overall condition. This approach demonstrates a commitment to providing a solid foundation, which can greatly enhance the appeal and value of your home in the eyes of potential buyers.
While major renovations may not be necessary, it’s crucial to pay attention to the small details that can significantly influence the overall appearance of your home on the market.
Gruenberger emphasizes the impact of these subtle changes, such as cleaning and buffing wood floors, replacing colorful or outdated area rugs, incorporating well-lit lamps, updating faded window treatments, and replacing worn-out knobs on kitchen and bathroom cabinets. These seemingly minor adjustments can collectively enhance the visual appeal and perceived value of your home. By focusing on these details, you create an inviting and updated atmosphere that will resonate with potential buyers, increasing their interest and likelihood of making an offer.
According to Kencel, worn or outdated carpeting can significantly detract from the overall ambiance of a home.
To set the right tone, it is advisable to refresh the carpeting. One option is to remove the carpet and refinish the hardwood floors if they exist, showcasing the natural beauty of the wood.
Alternatively, you can install new carpeting with a neutral and modern design. By opting for a neutral color and contemporary style, you create a fresh and inviting atmosphere that appeals to potential buyers.
The revitalization of your floors can have a transformative effect on the overall aesthetics of your home, leaving a positive and lasting impression on prospective buyers.
*The information is for reference only.