Should you renovate before selling?
People often ask me if they should make updates to their homes prior to putting their home on the market. It depends. As your real estate professional we’ll go over this in detail and talk about the plan to prepare your home for the market.
In most cases expensive home renovations are not recommended prior to selling your home. Unfortunately you will be unlikely to recover the expensive renovation costs back when the home is sold.
If you have previously completed major home renovations for your and your family's enjoyment, that is wonderful! However, keep in mind it is unusual to see dollar-for-dollar returns for major projects when you sell your home.
So which home improvements are market-smart?
According to the Remodeling 2020 Cost vs. Value Report the following Boston area home projects recouped the highest percentage of their cost at home sale: Garage Door Replacement (106%), Manufactured Stone Veneer (96%), Steel Entry Door Replacement (90%), and Siding Replacement 79-80%.
The home renovations with some of the lowest returns at home sale were Additions and Upscale Remodels. This category includes Upscale or Mid Range Bathroom Additions, Master Suite Additions, and Major Kitchen Remodels.
Making selective home improvements and repairs prior to selling your home can improve your home’s marketability depending on local real estate market conditions and your home’s expected sales price range.
When considering home improvements in anticipation of selling, there are two important rules:
do not overimprove, and
avoid renovations that might turn off otherwise interested buyers
As an experienced Realtor, I know how buyers respond and which improvements are likely to maximize your home’s market appeal. I am happy to provide advice and suggest resources to get any repairs or improvements done! Give me a call!
