Should I renovate my house before I sell it? This is such a common and important question that we hear from sellers time and time again. YourMoney.ca has shared a great article about how profitable renovating before selling might or might not be:
There is so much information on renovating via television, magazine, and public forums these days. Dramatic “before and afters” of interiors often make things looks gorgeous – and seem easy – which isn’t always the case in reality.
Anyone who has renovated knows that it’s incredibly stressful, expensive, and time consuming. When sellers want advice on whether or not to undergo a big renovation before selling we have to decipher if it’s worth it in the end…bottom line, will they profit well from the renos?
It’s necessary to prepare detailed comparisons of fully renovated, versus original, versus updated properties along with current market conditions to figure out if the seller will make top dollar, and if it’s worth it at all.
Sometimes the answer is clearly yes, but more often times we’ll see that simple updates – perhaps a new countertop, faucet and cabinet hardware is all a kitchen will need to feel fresh and current.
Likewise, perhaps a new bathroom vanity and fresh tiles on the floor will completely modernize the powder room. A new paint job is consistently the most simple and inexpensive way to freshen up an entire house.
Try and find ways to make the property shine, without major work, in order to reduce stress and make the most money possible.
Read the entire article here.