The question that most homeowners who are looking to sell their house ask is, “should I renovate my house before selling?” And that’s a valid question.
Real estate agents in Ingleburn may tell you no, since remodeling your house would require more time and money. Add the fact that the renovation is meaningless since you’ll sell the house anyway. But that’s not necessarily true for most homes and homeowners in Liverpool.
Liverpool, a suburb of Greater Western Sydney, is a great spot for locals and travelers. Having said that, you may want to consider renovating your home so it looks appealing. But before that, let us revisit some must-see places in Liverpool:
Liverpool Regional Museum
Take a tour around Liverpool’s museum, which features its rich history through collections, pictures, heritage exhibitions, and more. This is the first place to go to learn more about Australia’s and New Wales’ rich culture and history.
Warwick Farm Racecourse
This racecourse is developed in Warwick farm to not only entertain you but also enrich you with its rich culture since the farm is centuries old, dating back to the late 1880s.
This place is a must-see if you like safari adventure and nature sightseeing. Lion’s Lookout is a trail park that gives you a perfect view of Liverpool’s nature.
If you think your home has the potential to be a part of this stunning collection of spots in Liverpool, then maybe a renovated home is for you.
Renovating Before Selling
You’ll encounter two types of homebuyers in the real estate market: buyers who want to move into a ready-made house and buyers who wish to fix up the place they’re looking to buy.
A ready-to-move-in house costs more than one that needs renovation, and a good portion of buyers will be willing to pay extra if it means the house is well-kept and recently renovated. So, you’ll be more likely to get more of the money you spent touching up the place before selling it.
But it’s not as simple as it sounds. There are many things to consider when renovating your house before putting it into the market, and some of these are:
Consider which improvements will increase your home’s market value. Touching up the exterior by replacing the paint or re-modelling bathrooms, cleaning the landscape, and adding a fresh coat of paint can help increase your home’s value when you sell it.
Consider which improvements will give you more return from your investment: landscape cleaning, touching up the exterior and interior paint, kitchen and bathroom remodeling.
With that said, there are a lot of reasons why you should renovate your house before selling:
Renovating your house will attract buyers and could potentially ward off those looking for a reason not to buy the house (complaints about cracks in the walls, broken fixtures, etc.).
Particular renovations can increase your home’s market value and get you more profit than the amount you spent on the renovation, such as:
• Kitchen renovation
• Bathroom renovation
• Adding new flooring
• Replacing stone veneer siding
• Replacing fibre cement siding
• Finishing the basement
When a potential homeowner buys a house, more likely than not, they may have to rent out a place while the property is being remodeled. So, they’ll prefer to get a home that’s ready to be moved into. Buying a house is an investment, and buyers will choose to have an already remodeled house than one that needs fixing.
Most buyers don’t know how to remodel their house when they purchase for the first time. These kinds of buyers are usually the ones dominating the market, so it’d be an advantage to attract these buyers by having a ready-to-move-in home for sale!
Your house will stand out most among all the other properties on sale in the market. Not only will it give you the advantage of attracting buyers, but your house will also look professional from the get-go. Most buyers will look for a home that they can live in as soon as possible, so a fully renovated house will look presentable and attractive to buyers.
However, with a large area like Liverpool, you’re bound to have a lot of competition in the real estate market. It’s essential to give your home an edge among the other properties. You can also consult a property agent in Liverpool to provide you with advice on marketing your house and advice on renovating it before selling. There are a lot of real estate agents in Ingleburn as well to help you get insights into other locations for the market.
Now, we’re comparing the advantages and disadvantages of home renovations before the sale. Let’s look at why you should NOT renovate your house before selling.
Not Renovating Before Selling
Now, there may be buyers who would like to move into a ready-made house; there are also buyers who prefer a blank slate home. They want to personalise and renovate the house according to their preference.
Some buyers are also looking to get a cheaper home and touch it up themselves to save on the costs. So, the idea of leaving your home as it is before selling it may not be such a bad idea.
Facts to Consider
Are you still asking, “should I renovate my house before selling it?” Understand that you may not be able to fully receive a return on your renovation costs. Sometimes, the value of your house doesn’t increase even after renovation or even worse you may potentially over capitalise which is a common mistake made which could be avoided.
When thinking of renovating your house to sell it quickly, you may be tempted to cut corners and do the work yourself in hopes of adding value to the home. This isn’t always the case because you could potentially lower the value.
Your buyers will also think that the house is not well maintained or repaired when they notice that shoddy work has been put into the house. It’s safe to leave it as it is if you’re not willing to put in the costs and efforts to rework the house before putting it on the market.
Work with Us
You should consider a lot of things when asking, “should I renovate my house before selling?” You can consult many real estate agents on what you should and should not renovate on your house. And the one to trust is List and Sell. Call us now!