Should you make renovations on your home or list as soon as possible?
“Does it still make sense to renovate my home before selling, or should I just list as soon as possible?” Since the market is shifting, we’ve been receiving this question a lot. Here are our thoughts on the issue.
After interest rates increased, fewer buyers have been in our market looking for homes. As a result, now more than ever , your home needs to stand out. That’s why we recommend sellers do renovations before listing.
That being said, your expectations should be different in this market. Before, we only recommended that to a seller do a project if we thought they would receive two dollars back for every one they put into it. Now, a project is a good investment if you break even. In this market, you won’t make extra money from your renovations; however, your home will sell quickly and for top dollar before the market shifts further, so it’s worth it.
According to the National Association of Realtors, installing refinished hardwood floors, upgrading your insulation, and replacing your garage door are all great investments in this market.
If you need project ideas or have any questions, please call or email us. We are always willing to help!
