Getting ready to sell your home certainly involves a lot of factors; – searching for the perfect place to move, coordinating logistics with the moving van and helpers, and packing up all of your stuff in organized boxes. So, you may not love the idea of adding another big project to your plate, such as whether you should renovate your Vestavia Hills home before you sell. Home renovation can be costly and stressful, but it doesn’t have to be.
But, do the benefits of renovating your Vestavia Hills home before you list it outweigh the costs? Or is it better to sell your home as is, and move on? The answer, like most things, is not so simple. In short, it really depends on your specific needs and situation. There may be a different answer for every person, but there are certain factors that can help you decide whether or not to fix up your home in Vestavia Hills before you put it out there on the market. In this article, we will take a look at whether you should renovate your Vestavia Hills home before you sell, including the pros and cons of renovating it, or not.
Renovating Your Vestavia Hills Home Before You Sell
One of the key factors to consider as you decide whether or not to renovate your Vestavia Hills home (or how extensive your renovation projects will be) is time. What kind of timeline are you working with? How urgently do you need to sell your home and move? Figuring out what kind of realistic time constraints you are working with can help you to plan for upgrades and renovation projects that are feasible within your timeline.
If you do choose to embark on some renovation projects before selling your home, make sure to schedule all projects so that they are set to finish a few weeks before your hard deadline. That way you can leave some space for unexpected circumstances that may prolong the process.
You will also want to take a look at the marketplace. What is the standard baseline of quality that is shown in homes comparable to yours? You will want to make sure that your home is competitive within the marketplace, so doing some research can help to determine how much work should be done, and how much is simply extra.
The main benefit of renovating your Vestavia Hills home before you sell it is that it will almost certainly increase the value of your home on the market. Top shelf upgrades can attract buyers willing to pay a higher price point for a more luxurious, elegantly equipped home. Just make sure you choose the right renovation projects that add the most value to your home.
Offering a home with appealing traits, like all new custom appliances, pristine appearances, brand new hardwood floors, and plenty of smart tech upgrades can help you sell your home more quickly once you do list it. For buyers looking to move in right away without the hassle of fixing up their home once they arrive, this can be a make-or-break factor.
Of course, fixing up your home with top of the line, cutting edge gadgets, appliances, and renovations comes at a cost. The biggest drawbacks of renovating your home before you sell are the initial cost investment and the amount of time and effort renovations can take.
In fact, chances are you will not make back the entire cost of your initial investments in the renovation process. A more realistic estimate is that you will recoup about 56% of your average renovation costs. This may sound like a strong deterrent, but in fact, 56% is not all bad.
This is where your market research comes in. Think about what your potential buyers will be looking for in a new home. For example, if you are planning on installing lots of smart tech upgrades, your home will need super-fast reliable Wi-fi. And this is also a draw for potential buyers who work remotely from home. So, upgrading your home Wi-fi is a simple renovation that won’t cost you an arm and a leg.
If you do choose to renovate your home, focus on renovations that will appeal to the most people. The faster you sell your home, the sooner you can stop paying for the regular maintenance costs that every home incurs. Look for renovations that appeal to a broad audience but won’t set you back a huge amount, like refurbishing hardwood floors. This type of upgrade can boost your home’s value, helping you to sell your home quickly at a higher price point.
Selling Your Vestavia Hills Home “As Is”
Choosing to sell your home “as is” can make a lot more sense for people who need to sell their home quickly and move on. Depending on how much damage and wear and tear there may be in your current Vestavia Hills home, you can always choose to simply repair any damage and patch up any simple issues. Then, let the new owners take charge and fix up their new home as best suits them.
Selling “As Is” Pros
As we’ve mentioned above, one benefit to selling your home “as is” can be that you get it off of your hands faster. If you are working with a very limited timeline, then selling your home without adding any updates or renovations might be the right choice for you. Small fixes, like a quick coat of paint on the exterior, pressure washing your sidewalk, or fixing a broken lightbulb, for example, can go a long way towards making your home more attractive as you ready it for the public eye.
Beyond that, many home buyers actually prefer to snatch up a good deal on a fixer upper. First time home buyers in particular tend towards homes that need a bit of work, and this is true of the up and coming Millennial real estate market as well. For many first-time home buyers, a fixer upper represents a great opportunity to buy an older home that they can then touch up to suit their own tastes, preferences, and lifestyle needs.
So, leaving your Vestavia Hills home “as is” can appeal to a certain type of home buyer while saving you the extra expenses required for renovations.
Selling “As Is” Cons
If you do have the time and money to put into renovations, then selling your Vestavia Hills home “as is” means you may be listing your home for less value than it is worth. With a little time, money, research, and effort, you can present your home as one that doesn’t require “fixing up”. Homes that are ready to move into and that have a few special touches to make them stand out can bring a lot more money into your pocket.
Therefore, think carefully about your timeline and intended audience. It is safe to assume that there will always be a home buyer out there who is interested in paying a higher amount for a fully renovated home. But you may have to wait a lot longer to reach them.
In the end, should you renovate your home Vestavia Hills home before you sell? The bottom line is, if you have the time and money to do so, then yes, it is probably worth it and can make a big difference to the value of your home. If you are working with a limited budget and timeline, then you can always try smaller upgrades.
Even less expensive fixes can make a big difference. As you list your Vestavia Hills home for sale, you will want to make sure that it is shown in its best light. Cleaning, repairing any obvious damage, and freshening up your space certainly will not hurt. Any small fixes you can make can help boost your home’s appeal. But if you are trying to attract buyers who are willing to pay top dollar for your home, then you will likely need to put in a fair amount of work and funding to make your Vestavia Hills home competitive in today’s real estate marketplace.