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Community Corner

Should You Renovate Before Trying To Sell Your Home?

We've got the scoop on what renovations and repairs you should consider—and which ones you can skip—before putting your home on the market.

Are you thinking of or trying to sell your home? Wondering what steps you should take to prepare your home for sale? Homeowners today, especially those who’ve struggled trying to sell, often wonder if renovations would speed up the process of finding a buyer or net them more on their sale.

It’s true that buyers today have more homes to choose from and they prefer renovated homes that are in move-in condition. Fixing items in disrepair and de-cluttering the inside and outside of the home should be at the top of every seller “Must-Do” list.

Should you update kitchen and bath?

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A house that is otherwise in good working order but dated in its appointments can benefit tremendously from new kitchen and baths—these renovations often return 100 percent of your investment at the sale. 

But if you choose this path you must be careful to address the needs of today’s buyers. For example, a buyer today will likely expand a small kitchen. If you renovate your existing kitchen without addressing an expansion you may be wasting your money. Colors and styles also come in and out of fashion: Oak cabinets, tile countertops and white appliances may not be what today’s buyers are looking for. 

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Bathrooms also need to address today’s needs. A home with one and a half baths today is considered functionally obsolete. Buyers will be looking for ways to increase the bath count and in order to do that they may need to remove your brand-new $10,000 bathroom. So if you’re not addressing the scope of work sought after today, skip it.

Repairs

No one wants a roof that is leaking but buyers rarely get emotional or excited about a new roof—they just want a functional roof—along with working gutters, windows, boilers, water softeners, insulation, hot water heaters, well pumps, septic systems, and central air-conditioning. 

In the real estate business, we call this a buyer’s “secondary decision process.” That is, buyers rarely choose a home based on the condition of these items. When a buyer finds a home and they’re able reach an agreement on price and terms they will then look to a home inspector to evaluate the condition of the home.

Generally, if the major systems are in working order a buyer will continue with the purchase.  Often a home inspector will refer to a system being “at the end of its useful life,” which means—you guessed it, that hot water heater is old enough that it will need to be replaced soon. Even in today’s buyers’ market, sellers are extremely reluctant to adjust a sales price based on a system that is old but working.

So what repairs should you do?

Some examples include doors or cabinets that don’t operate properly, chipping paint, broken glass, cracked steps, loose railings, leaking faucets and burned out bulbs.

These items are generally inexpensive and easy to fix—and if you don’t fix them, buyers may tour a home and leave with the general impression that the house “needs too much work.” So in this case, sweat the small stuff—the payback is well worth the cost and effort.

Just as important as fixing items in disrepair is de-cluttering a home, which also brings big returns for your investment. Generally speaking, the more sparsely furnished and decorated your home is the better. Organize storage spaces like closets, basements, attics, and garages, and bring in the toys from the front lawn.

Having your home looking its best is very important but timing when your home goes on the market is also an important consideration.  The spring market, which is currently underway, is still the time of year when most buyers are out looking for a home.

Nelson Salazar is a real estate agent in Northern Westchester with Coldwell Banker Residential Brokerage.  You can contact him at (914) 234-3292 or at nelson.salazar@cbmoves.com.  You can visit his website at www.NelsonSalazar.com.

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