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Just-Add-Salt

Renovate before selling?

Sellers often ask for tips on the best things to do to fetch the highest dollar when they sell their home.

One of their main questions is whether they should do major, or even minor, renovations before putting up the ‘for sale’ sign.

The answer isn’t simple as there are many factors to consider before the right advice can be given.

  • How much will the renovations cost?
  • What exactly are you planning to renovate?
  • Will you be doing the renovations yourself or will you be hiring a professional?

Generally, if a seller is considering a huge, costly, professional renovation before selling, our advice is not to move forward as the seller risks spending so much that in the end, after all the bills are paid, they can’t possibly break even.

As anyone who has ever started home renovations knows, one renovation of one item or one room leads to another and another and another, until the renovation is worth almost as much as, if not more, than the house is worth on the market. 

On the other hand, if a seller is capable of doing these renovations on their own and are focusing on those areas of the home that really need an update, as opposed to a change just for their own personal preference, our advice is generally to “go for it."

As a basic rule, if you are going to renovate before putting your home for sale, ensure you invest in the areas that matter most, such as kitchens and bathrooms. 

There is one other consideration: when renovations are actually repairs. It is always good advice to ensure all repairs are completed before the ‘for sale’ sign goes up.

Otherwise, a seller risks selling for less when a buyer, or the buyer’s home inspector, finds a major issue and the buyer wants to renegotiate the price at the eleventh hour.

All in all, if your home is in good repair, has no major issues and shows neat, clean and tidy — in most cases, it is ready for sale.



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About the Author

Lisa Salt is a Vernon born Realtor® who, along with her husband Gord Fowler from Calgary, lead one of the most successful and dynamic real estate teams in the North Okanagan. 

An international clay target shooting champion, Lisa brought the attributes of hard work and diligent focus to the real estate industry to create the success she and her team have today. 

To experience the local knowledge and expertise that only someone born and raised in the Okanagan can offer, call Lisa today and 'Just Add Salt'.

Website link:   http://www.saltfowler.com

Contact e-mail address:  [email protected]

 



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The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

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