Renovating a house before putting it on the market is a common recommendation. However, not a lot of home sellers are open to this suggestion, thinking it’s a risky and costly endeavour that does not guarantee good returns.
So, should you renovate your property before putting it on the market? Many real estate professionals recommend renovating before selling a house, especially if there are several competitors. Refurbishing it can give you the advantage you need to attract more buyers and get better offers. Consequently, this can also help you sell your house faster.
But how do you go about it without spending more than what you’re likely going to get? The key is knowing what renovations you should make at the onset. You do not have to renovate the entire house. You just have to identify which areas require repairs and improvements and have the potential to rake in more money.
Fix Existing Problems
Naturally, noticeable problems like holes on walls and peeling paint must be addressed. When painting your walls, avoid loud colours. As much as possible, use neutral hues or stick to tried-and-tested room-paint colour combinations, i.e., light beige for living rooms and blue for kitchens. You should also repair plumbing issues such as leaking pipes and clogged sinks. Lastly, fix or replace dated or broken HVAC systems and appliances like ceiling fans. These changes can go a long way in terms of making your property more presentable and attractive.
Improve Your Home’s Exterior
Do not take your home’s exterior for granted. In the real estate industry, first impression does matter. So, power wash your exterior walls to get rid of dust and dirt. If your roof, walls and fences also look dated, apply a fresh coat of paint. Consider trimming branches off trees in your property that are blocking sunlight from your house. Of course, do not forget to mow your lawn and clean your garden.
Focus on Your Kitchen and Bathroom
As mentioned earlier, you do not have to renovate all the rooms in the house. What you can do is to focus your efforts and resources in the kitchen and bathroom – two rooms known to sell houses. Reports indicate that a euro spent on refurbishing these rooms may yield a return of two euros or more.
Again, a complete rebuild process is not necessary. All you need to do is to make sure that your kitchen and bathroom look up-to-date. For the kitchen, what you can do is to repaint the kitchen cabinetry and replace their handles. If possible, add additional storage or bench space. You can also replace the benchtops and get modern appliances.
For the bathrooms, aside from repainting the walls, re-grouting is highly recommended. If your tiles are due for replacement, do not hesitate to do so. Just make sure that you choose the right design, quality and colour. You may also change your shower screen or curtain, tapware and toilet. In addition, instead of the traditional shower head, you can install a hand shower which many buyers find more convenient and appealing nowadays.
Identify Your Market
When deciding what changes to make in your house before selling it, it is also important that you know your target market as well as their needs and wants. For example, families require houses with lots of storage, an open-plan living or layout and a fenced yard. Meanwhile, couples approaching retirement age look for convenient, single-level homes with good appliances and bathrooms with double basins. Suffice it to say, knowing who your potential buyers might be is going to give you a good idea on the changes you need to do to make your property more appealing.
In summary, for you to get a significant return on investment – ideally twice the renovation cost, you must plan your home renovation well. Talk to real estate agents and home decorators for expert advice. Create a list of things you need to do and prioritise. Most importantly, set a budget and stick to it.
Selling your home? Want to know what renovations you should make? Talk to our experienced real estate agents! Call us at 01 495 9020 today!
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