Selling your home soon? Sell Clean, Sell High, Sell Fast!
By Ken Jimmerson
What are the secrets to maximizing the resale value on your home? Hint, It starts with TLC.
Homes that are renovated or updated tend to sell faster and for higher prices than homes that are not. Potential buyers work hard to earn & save their way into a position to purchase their dream home. Most buyers will feel apprehensive about investing in a home only to have to spend the next few months updating and repairing issues they feel should have been addressed well before the sell. There are some buyers who do not whence at considering deteriorated houses. However, these folks will likely request very aggressive price discounts during negotiation. they also may be the only potential buyers a seller is negotiating with. Buyers are not just looking at what is right, they are also looking for what is not right. Over time, renovations and updates can increase the value and appeal of a home, making it more attractive to potential buyers. The following are some reasons why well maintained & renovated homes tend to sell faster and for more money.
1. Increased Curb Appeal: Renovations & upkeep can enhance a home's curb appeal, which is the first thing potential buyers see when they pull up to the property. A well-maintained and updated exterior can make a great first impression and entice buyers to take a closer look.
2. Modernized Features: Renovations can update outdated features and bring a home up to current design and style standards. This can include updates to the kitchen, bathrooms, flooring, and lighting. A modernized home is more attractive to buyers who are looking for move-in ready properties. Properly working equipment and fixtures let buyers glide through introductions and walk-throughs with confidence and security.
3. Better Condition: Renovations can improve a home's overall condition, including repairs to structural issues, HVAC systems, and electrical and plumbing systems. A home that is in good condition will require fewer repairs and upgrades from the new owner, which can increase its appeal.
4. Higher Value: Renovations can increase the value of a home, which means it can be sold for more money. Depending on the type of renovations, the return on investment can be significant and provide a higher profit for the seller. It is not necessary to commit to major expenditures. Small things make huge differences.
5. Competitive Advantage: Renovated homes & ones that have been well maintained stand out from other properties on the market, which can make them more attractive and more likely to sell faster.
It is worth noting that not all renovations provide the same return on investment. Some renovations, such as adding a swimming pool, may not provide a significant return and may even deter some buyers. It is important to consult with a trusted real estate agent or a professional appraiser to determine which renovations will provide the best return on investment for your home.
In conclusion, renovating a home can increase its value, appeal, and competitiveness on the market. Homes that are renovated and well maintained tend to sell faster and for more money than homes that are not. However, the decision to renovate a home should be made carefully, and the cost and expected return on investment should be carefully considered. It is always worth it to keep up with maintenance. Not only will you enjoy the comfort of living in a well maintained home, the value of having one of the best homes on the block will add return at time of sale.