September 14, 2022
Getting Your House Ready To Sell? Work with an Agent for Expert Advice
In a market that’s shifting as fast as it is today, many homeowners wonder what, if anything, needs to be renovated before they sell their house. That’s where a trusted real estate professional comes in. They can help you think through today’s market conditions and how they impact what you should – and shouldn’t – do before selling your house.
Here are some considerations a professional will guide you through.
What You Need To Know About Your Local Market
Since the supply of homes for sale has increased so much this year, today’s buyers have more options than they had last year. That may mean you’re not able to ignore some of those repairs or cosmetic updates you could have skipped in previous months. As a recent article from realtor.com says:
“To stand out in the market, sellers should make their home attractive to buyers, which usually means some selective updates.”
The key word here is selective. Since it’s still a sellers’ market, focusing on a few key areas may be enough to make your house stand out. Inventory is still low overall, so buyers may be willing to handle renovations themselves once they move in. It all depends on buyer demand and the available inventory in your local area.
Not All Renovation Projects Are Equal
In addition to making sure your house makes a good first impression, you’ll also want to consider the return on your investment (ROI) for any renovations. According to the 2022 Remodeling Impact Report from the National Association of Realtors (NAR), here are the projects that could net you the best return when you sell (see visual below):
Your real estate advisor is your best resource. They’ll offer insight into what you may need to repair, replace, or refinish and share what other sellers are doing to attract buyers. As Dr. Jessica Lautz, Vice President of Demographics and Behavioral Insights for NAR, explains:
“This year, the winner was hardwood flooring. Hardwood floor refinishing and putting in new wood flooring had the most significant value, . . .”
How To Draw Buyer Attention to the Upgrades You’ve Made
For any projects you’ve completed or plan to do before listing, make sure your real estate professional knows. They’ll highlight these in your listing so buyers are aware of the features that may help sell them on the house.
No matter what, contact a local real estate professional for expert advice on what work needs to be done and how to make it appealing to buyers. Every home is different, so a conversation with your agent is essential to ensure you make the right moves when selling.
Bottom Line
In today’s shifting market, it’s important to spend your time and money wisely when preparing to move. Let’s connect to find out where to focus your efforts before you sell.
