Should We Renovate Before Selling?

Should I renovate my home in today’s market before listing it?
Are you currently looking to list your property but are wondering what you need to fix up or how
much renovation you should do before you list? In today’s market, many sellers wonder how
much work they should do before listing and is it worth it? Hi, I’m Cynthia Lowry, Brokers Guild Real Estate. The answer to this question is…… yes AND…. no depending on
what’s happening in your local market. In today’s market, increased inventory has given buyers
more options than previous years. This means as a homeowner you may not be able to ignore
some updates or repairs that may not have been necessary or that could have been overlooked
in previous months. In a recent article from realtor.com, “To stand out in today’s market, sellers
should make their home attractive to buyers which usually means some selective updates.”
However, since we are still in a seller’s market, renovating a few key areas in your home may be
enough to make your house stand out from the competition. And you will need to consider the
return on your investment. According to the 2022 remodeling impact report from National
Association of Realtors, “hardwood flooring, refinishing and putting in new wood flooring has the
most significant value in today’s market.” Also, what’s just as important, is to make sure your
real estate agent knows of any upgrades you’ve previously done. This way they can be
properly marketed to make buyers aware of your features and improvements. Finally, the best
recommendation is to spend your time and money wisely by consulting with a professional
agent, to see where the best focus should be. Feel free to reach out to my team and I, so we can guide you as you make those decisions. Remember, I love what I do and will advocate for you!