Renovations You Should AND Shouldn’t Do Before You Sell

Posted by Florida Realty Marketplace on Friday, October 9th, 2020 at 8:00am

Renovations You Should AND Shouldn’t Do Before You SellIs now a good time to sell your house? That’s what many people are wondering during this seller’s market. With so many people wanting to buy a house right now, many people are considering if they should sell their home. Maybe you have considered putting your house on the market while you look for homes for sale in Charles Cove. Whatever your reason is, you want to make sure you get more money out of it than what you paid for.

When it comes to selling your house, you want to be sure you’re getting the most value out of your home. But before you decide to put the “for sale” sign in your yard, think about how you can add greater value to your home. You could sell the house as is, right now, but you could choose to make a few changes that will give you more bang for your buck. Not all renovations are equal, though. Some are incredibly profitable, and others will hurt your wallet. Before you make any home improvements, here is what you should renovate and what you should leave as is.

Profitable renovations

Making some changes to the house can help you set a higher price tag. Plus, by renovating a particular room or a few amenities, you are much more likely to catch the eye of many more potential buyers who will likely give you a higher bid on their offer than your asking price. Consider making these renovations to your home.

Remodel your kitchen

Homebuyers want to see updated kitchens, especially ones that look current and updated. Remodeling your kitchen is a must before listing your home. You don’t necessarily need to do anything drastic, either. Making a few minor upgrades to fixtures, drawer knobs, backsplash, and paint can leave a significant impact on potential buyers.  After the front image of a listing, the first place buyers want to see is the kitchen. 

Building a deck

Every year, renovation magazine researches the best upgrade to add to your home and every year it's a deck. If you live in Florida then it's expected that you'll have a deck, sun room or some outdoor type living space.   If you invest money in these spaces you'll be sure to get a return.

Finish the basement

If your home has an unfinished basement or could stand a few upgrades, you cannot go wrong with making renovations in this part of the house. Many home buyers like to see a basement in a house, but they prefer a home more that has a finished basement that they can use as soon as they move in. Renovating your basement is a win when you want to add value to your home.

Update, Paint Or Pressure Wash the siding

Let’s consider the outside of your house. Of course, curb appeal attracts home buyers. In what state is the siding of your house? If it looks like it needs to be updated, then you absolutely should make this upgrade happen. Updating the siding is also an excellent way to boost your home’s value.   If you have siding like hardiplank then consider getting it painted or at least pressure washed.   That first impression is often worth thousands. 

What not to renovate

Renovating a few areas and amenities in your home will add tremendous value. There are, however, a few renovations that will not help your return on investment. Don’t waste your time or money on these renovations.

Remodeling a bathroom

If the bathrooms in your house need a little extra attention, adding a fresh coat of paint or installing new faucets can help. What is not helpful for your wallet is remodeling the bathroom or adding a new one. Those who choose to renovate their bathrooms don’t regain much when it comes to closing. Should you want to touch up the bathroom, keep your expenses at a minimum.

It's worth repeating.  If you have a bathroom so old that it has carpet in it, then rip the carpet out, just don't rip out the tub or shower.  You won't see any ROI on that upgrade.

Adding an in-law suite

When homeowners consider renovations, they often think adding a in-law suite brings tremendous value to a house. In reality, home buyers would rather buy a house they like instead of paying more money than they want for a in-law suite. The cost of adding a in-law suite will ultimately not help your ROI as the average price of one is can start to exceed the cost of a new kitchen. This is not a renovation you want to consider.   

It's worth noting that people do search for homes for sale in Davenport with a in-law suite but they don't often pay more for the homes.   One reason is that it's almost impossible to search for homes for sale in the Orlando area with in-law suites because the searches you can perform on the internet don't have this information.   However, if you contact us, we can help you find those kind of homes.

Upgrade energy savings

This one is a bit controversial, but bear with us.   How does your energy bill look these days? Depending on when your house was built, you may need to consider upgrading certain features in the home like replacing windows or installing in new insulation that will provide energy savings. Buyers like to see these items updated. 

Whereas the kitchen can often net you more, these big home system upgrades can often insure you don't have to lower your price. For that reason, we do actually recommend updating them but not to generate a profit. 

Let us help you find your next home

Selling your home on your own is a tedious task. Instead of adding extra stress to your life, hire a real estate agent who will get you the best deal for your home and help you find your next home. Contact us today to speak to one of our knowledgeable real estate agents.

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