Are you currently looking to list your property, but are wondering what you need to fix up or how much renovation you should do before you list? In today’s market, many sellers wonder how much work they should do before listing, and is it worth it? The answer to this question is…… yes AND no… depending on what’s happening in your local market. In today’s market, increased inventory has given buyers more options than in previous years. This means, as a homeowner, you may not be able to ignore some updates or repairs that may not have been necessary, or that could have been overlooked in previous months.
The Biggest Bang For Your Buck
In a recent article from realtor.com, “To stand out in today’s market, sellers should make their home attractive to buyers which usually means some selective updates.” However, since we are still in a seller’s market, renovating a few key areas in your home maybe enough to make your house stand out from the competition. However, you will need to consider the return on your investment before getting started.
According to the 2022 remodeling impact report from National Association of Realtors, “hardwood flooring, refinishing and putting in new wood flooring has the most significant value in today’s market.” Also, what’s just as important, is to make sure your real estate agent knows of any upgrades you’ve previously done. This way they can be properly marketed to make buyers aware of your features and improvements.
Consult With a Pro First
Finally, the best recommendation is to spend your time and money wisely by consulting with a professional agent, to see where you should focus your renovation dollars. Feel free to reach out to my team and I, so we can go over the best strategy, and suggest any renovations, to optimize the sale of your home, resulting with the highest return on your investment.