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Do You Need Renovations Before Selling Your House?

Posted by [email protected] on June 9, 2021
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Real estate sellers are often faced with the question: is it worth doing repairs? There is a widespread opinion that a renovated property can be sold for a higher price. Is it so? 

In short, serious repairs are not worth doing. The money invested will not pay off, and the time and effort spent are also worth the money. Minor decor and staging help to make the residence more attractive for purchase. How much are you willing to spend? Will the repair pay off on sale? 

Renovation is one of the ways to higher attractiveness for potential buyers. It can faster the period of the sale and bring the opportunity for the seller to get desired sold price. The buyers’ decision is primarily influenced by the location and infrastructure, the condition and type of the house, the footage, and space itself. The presence of repairs is an important, but not the determining factor in making a purchase decision. 

 

CONSIDER THE TYPE OF HOUSING

There is no point in spending money on designer renovations in an unpopular location were most likely, the costs will not pay off. Buyers of inexpensive apartments choose a cheaper option in order to equip the house to their liking. On the other hand, old furniture and shabby linoleum will not help to sell real estate in the center as expensive as it could be.

For luxury real estate, there are two scenarios. A significant part of buyers hunting for the properties without renovation in order to make the design according to their own taste. For another part of buyers, looking for turn-key properties property should have renovation not older than 2-3 years.

If the general condition of the apartment is good, then pre-sale preparation is enough. Declutter space, by getting rid of unnecessary furniture and other things. Repair kitchen and bathroom taps, sockets, and switches throughout the apartment.  Perform a deep cleaning, and be sure to add more lighting to the rooms. The cleanliness of the place help to show the beauty and potential of the property for potential buyers.

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