Should Sellers Renovate or Sell Their Home
A lot of people struggle with the dilemma of whether they should sell or simply renovate their home. The factors which could influence your decision are many, ranging from your immediate cash flow availability, to whether or not you want to stay in the home long-term, to everywhere in-between. With such an important decision to be made, it makes sense to take a little time and weigh your options before deciding on a course of action.
Should sellers renovate or sell their home? Below are several tips to help them decide which solution is best for their particular needs.
Renovating Your Home
If you have the funds, renovating your home can be a fun and easy option, and in some real estate markets, the cheaper solution too. Of course, it all depends on the types of renovations you want to have done. Investing money in timeless renovations should pay off if you decide to sell the home at a later date. Besides, if you do not have to move, and are not willing to compromise on the price of your home, why put yourself through the stress of trying to sell.
If you decide to go forward with a renovation, you will not have to deal with the tedious cleaning, packing, and moving of your possessions to your new home. That alone may sway some who are on the fence as to which option to select.
Just remember, if you decide to renovate, you cannot do everything at once so plan your tasks according to your budget, time, and resources available. You will be surprised that even a small renovation can drastically the look of your home. Here are a some smart options to consider if you are considering renovating your house.
Cheaper Home Renovations
- Update lighting
- Neutral paint scheme
- Buy or re-purpose furniture
- Accentuate with flowers or artwork
- Re-tile and/or add a backsplash
- Replace faucets/handles
- Re-finish cabinets
- Install crown molding/trim
- Changing counter-tops
- Create storage options
- Replace outlets/switches
- General landscaping
More Expensive Home Renovations
- Adding an addition
- Re-configuring a room
- Room makeover
- New appliances
- New roof
- New siding
- Outdoor spaces
- Add a garage
- Replace lawn
- New heating and/or air conditioning
Selling Your Home
There are a myriad of reasons and just as many memories tied up in your decision to sell your home. You have thought it through, have discussed the details with your Realtor®, feel confident your property is the one buyers will want, and are ready for whatever the future holds. Whether your decision is influenced by the need for a larger home, closer to work/school, or you have too much home to clean/maintain, you have no doubt weighed all your options and believe selling your home is the right move to make.
Of course, selling your home could provide you with the finances you need to put a decent down payment on a new home, solve a financial crisis, or perhaps even help your family get situated in a better neighborhood. There is always a risk of not getting the price you expect and in cases like this a renovation is always a good fall-back option.
With so many emotions all at once, it is perfectly normal to get overwhelmed when you think about leaving the place you made so many memories in.
Making the Final Decision on Selling Your House
Before you make the final decision of selling and moving to another area, make sure that you are doing it for the right reasons. When most people decide to relocate, they are usually doing it with the intention of getting a better job, finding a better school for the kids, moving closer to family, upsizing/downsizing, or starting over. Perhaps you are ready to retire or see the world and selling will turn that dream into a realty.
As always, consult with a professional agent who can help guide you through the home selling process and discuss how you can sell your home for top dollar. Many things like cleaning, de-cluttering, and general upkeep you can do yourself before putting the home on the market. You may even need to perform some minor repairs and/or improvements to get the price you desire.
Every decision that affects your home and the future of your family is a hard one. However, this should not discourage you, because whichever choice you make, you have the opportunity to change things for the better. If you have given yourself enough time to consider both options, and are ready to make a decision, then you are ready for whatever comes next!
Thanks to Quality Cleaning Abbey Wood for sharing their expertise on this “Should sellers renovate or sell their home” article!
Additional Seller & Renovation Resources
How Long Does a Remodel Take by Lisa Gordon at houselogic.com
Knowing When Not to do DIY Home Improvements courtesy of Karen Highland
The Best Home Improvements for Resale Value via Tim Uittenbroek
41 Mistakes Sellers Make from Lynn Pineda
Things to Put Away When Trying to Sell via Debbie Drummond
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