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Depending upon the circumstances under which you want to sell your home, and its condition, spending money on renovating it could help you to sell it far faster, and of course, at a significantly higher price.
If your home desperately needs renovating, then there can be no doubt that doing so would be almost essential if you’re looking to sell it quickly, and the same applies if you know that your home lacks what other similar homes in the vicinity have. Competition is fierce, and if your home doesn’t have the edge over others on the market for a similar price, then you could face months, and even years, of an unsold property.
If you need to sell your home quickly but are unsure whether renovating it would be worthwhile, the following points may help you make an informed decision:
Most homebuyers don’t want to renovate a property after they’ve bought it
Contrary to popular belief, the majority of homebuyers have no interest in renovating a property once they’ve bought it; preferring to be able to move straight in with zero to minimal work required.
Homebuyers often struggle to visualize the end results of a property in need of renovation, and judge it based upon how it looks at the time of viewing.
Renovating your home can take less time than you think
Provided you work with an experienced firm who specialize in renovations, there’s no reason for the work to drag on for months on end, and in many cases, the work can be completed to a high standard in a matter of weeks. While a lot will obviously depend upon the nature and extent of the renovation work being carried out, if you plan the renovation work well in advance and hire a reputable firm with a good team of contractors, they’ll work at pace to get you a property that will sell fast once you put it on the market.
Strategic renovations almost always pay off
Thinking carefully about which areas of your home would benefit most from being renovated, and talking to local realtors and renovation companies about the projects that give the highest return on investment, can ensure that your home renovation pays dividend.
For example, kitchens are a popular renovation project that typically give a high ROI, and there are many smaller projects you can undertake to boost your home’s value and help it sell quicker, too, such as replacing fixtures and fittings, or refreshing all of the paintwork inside and out.
Experts suggest that if your home is in need of a complete overhaul but you don’t have the time or budget to fund such a big project, then focusing on such things as painting or flooring, can help to make the entire home look more modern and functional, without the expense of upgrading everything or making structural changes.
In conclusion, it’s safe to say that a professional renovation project is almost always going to help you sell your home quicker, although many factors such as the state of the real estate market, and the area in which your home is located, will ultimately play a role in determining how fast it sells.