Renovate Your Home Before Selling It
Renovating your property before it sells can make a difference. But in markets where buyer demand is strong, it might not matter.
With housing inventory at historic lows in many parts of the U.S., you might be hoping to capitalize on the market by listing your home. After all, it’s ready to go; you have a new roof, fresh paint, mulched beds, and you even planted flowers. But what about that dated interior? Should you update your home before listing it?
That depends. There are many reasons to update your home if you’re able to do so. Many buyers today want a turnkey opportunity—a home in move-in condition. An updated home may also compete better against others on the market, especially new construction. Perhaps most importantly, first impressions matter. Many buyers see your home first online, so a home that presents better may spark more interest.
“Your first showing is done before the buyer ever walks through the door,” said Josh Dotoli, a real-estate agent with Compass Florida in Fort Lauderdale, Fla. “The smallest details make all the difference.”
But Mr. Dotoli doesn’t recommend piecemeal renovations. “If the entire house needs to be updated, make the presentation as good as it could be—clean, neat and organized,” he said. “Don’t worry if the house doesn’t match up to the latest design magazines. An older home that’s well cared-for shows it was loved and will attract the right buyer at the right price.”