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Is a Home Renovation Necessary for a Top-Dollar Sale? We're Glad You Asked...

Updated: Jul 5, 2023

When it comes to selling your home, the devil is in the details. Homeowners want what every seller prays for; a quick, top-dollar sale that seems almost effortless. But is that realistic? Should you invest time and resources into renovations to maximize your return on investment or can you skip the updates and move onto other things? With changing trends, fluctuating markets, and numerous factors involved with listing a house for sale—the answer isn't always so cut and dry. So read on as we give a few tips on pre-listing renovations and discuss the potential benefits of renovating a home prior to listing!

Older Couple Painting their Living Room

Tip #1: Take Care of Major Issues So Your Buyer Won't Have To

Potential homebuyers are always on the lookout for their dream home, and they don't want to purchase a property that needs immediate repairs. If your home has major flaws that will be noticeable to potential buyers, it's best to address them before putting it on the market.

Buying a home is a big investment, and no one wants to add a to-do list to their already busy schedule. If a renovation or fix is necessary to make your property more attractive to buyers, it's wise to take that step and ensure a smooth selling process. Remember, a little investment upfront can go a long way in making your home more marketable and potentially increasing its value in the long run.

Tip #2: Resist the Temptation to Add On Livable Space

Before and After of a Renovated Living Room

While the idea of increasing livable space in a home can be tempting, the reality is that it doesn't always provide the return on investment one might hope for. Instead of shelling out money for costly additions, it may be more advantageous to focus on modernizing and maximizing the current space. By updating the layout and functionality of existing rooms, homeowners can create a more functional and attractive living space without breaking the bank.

With a little creativity and a willingness to think outside the box, transforming a home's current layout can often yield just as much, if not more, livable space than an expensive room addition.

(Source: Sebring Design Build Remodel)

According to an article written by CNBC in regards to the 2023 Zonda Cost vs. Value report,

"Only a few projects can deliver a 100% return on investment, such as converting a heating, ventilation and air conditioning system to electric, replacing the garage doors, installing a stone veneer and upgrading to a steel front door.
A minor kitchen remodel — such as painting and updating the backsplash — did provide high returns, but major kitchen and bathroom remodels did not, the Zonda survey found."

Here's what they found in regards to the Pacific Regional Data:

Page 1 Cost vs Value Pacific 2023 Remodel Report

Page 2 Cost vs Value Pacific 2023 Remodel Report

Page 3 Cost vs Value Pacific 2023 Remodel Report

Tip #3: Update the Old, Worn Finishes that Date Your Home

Old finishes such as lighting fixtures, hardware, honey oak cabinets, and backsplash from the '80s may have been considered fashionable back then, but they do not age well. These finishes not only give your home an outdated appearance but also make it look tired and not well-kept. Fortunately, updating these finishes can go a long way in making your home appear newer than it actually is.

Staged White Kitchen with Green Florals

A simple switch to more contemporary finishes such as brushed nickel or matte black hardware, modern lighting fixtures, and a fresh coat of paint on your honey oak cabinets can make all the difference. With the right updates, your home can look like a sophisticated and modern space that you will love coming back to day after day.

Tip #4: Get the Space Professionally Staged for Photos & Showings

When it comes to selling your home, First Impressions matter. The way a home is presented can either attract potential buyers or completely turn them away. That's where home staging comes in, and it's a must if you want to sell your home quickly and at a high price point.

Remember, home staging isn't just about making your home look pretty – it's about showcasing its full potential. If the home's furnishings are devaluing the price point, making it look darker or smaller, or giving it a dated look that differs from the up-to-date homes in the area, then seeking the help of a home staging professional is highly recommended. Trust us, the investment in home staging will pay off in the end!

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