To Fix It or List as Is, That Is the Question!
If you are planning to sell, you may be wondering if you should fix up your house before you sell it or go straight to the market as is, allowing a potential buyer to update and remodel as they see fit. Is it worth your while to put in the money and time making improvements before you sell? Here are a few tips to help you decide.
1. Analyze Your Local Market
A real estate professional can help you to understand the market in your area and the potential level of buyer interest and demand for your home. Are you in a seller’s market or a buyer’s market? This can change based on the price range of your home as well as other factors. A professional can also give insight on what you should change or remodel, and how to declutter your house to make it attractive to buyers.
2. Hire One or More Inspectors
Your home may require some significant improvements. A Home Inspector can give you a better idea of the condition of your home, if it is up to current code standards, and recommendations on how to have your house ready before you put it on the market. You may even engage the services of one or more additional inspectors, such as Pest, Pool, Roof or Septic Inspectors. Armed with this information, you know up front what improvements/repairs your home is needing.
3. Decide if You Need to Remodel/Update
Perhaps you are thinking about increasing your home’s appeal with something like a kitchen or a bathroom remodel. First, work with your real estate agent to investigate the market value of your home and compare it to the actual cost of the remodel. Your real estate agent can help you determine your home’s market value and you can obtain a few quotes from contractors on the potential remodel pricing. Another thought to consider is if your taste has wide appeal. You may have excellent taste, but it may be specific to your design style.
4. Is Remodeling or Upgrading Worth It?
Remember, when you remodel or upgrade your home, you not only have the expense, but you and your family must live through the potential chaos! So, in addition to cost, you must decide if it makes sense to manage the project(s) as well as the stress of remodeling and/or upgrading.
Decisions, Decisions!
Once you have considered these factors, you can to decide if a remodel and/or upgrade will give you a return on your investment when you sell. Oftentimes, it can be more advantageous to price your house to sell as is, list it competitively, and then let the buyer decide what to upgrade and how or if they wish to remodel.
Nationwide, inventory is relatively low, driving buyer demand and creating a perfect time to sell. If you’re considering selling your house, partner with a real estate agent who can help you confidently determine whether remodeling/upgrading would be the best choice for you.
Debbie Austin is a realtor associate with Keller Williams, Roseville and has been helping clients buy and sell property in the area for over 15 years. If you have a specific real estate question you wish to see addressed, contact Debbie at debbieaustin@kw.com or debbieaustin.com.
