So, you’ve decided it’s time to sell your property. Perhaps your family has grown and everyone needs some space. Or maybe the kids have left the nest and you’re ready for less maintenance and more travel.
You want to get the maximum price for your property with minimum fuss. But how much work should you do to prepare your home for sale?
If you like to watch a lot of DIY shows, you might have always dreamed of doing your own renovation rescue, and raking in the profits. But how much is too much to spend? Does it really mean a better selling price if you invest your life savings in a new kitchen?
Before you run down to the hardware store, let’s look at the pros and cons…
Pro – Your property will appeal to people who don’t want to renovate – such as families and professional couples.
Con – Your property will not appeal to buyers looking for a project of their own, and you could alienate these potential buyers.
Pro – You will add value to the property and take advantage of the profits, rather than leaving someone else to reap the rewards.
Con – The whole thing could backfire and you could spend loads on renovating without making much on the sale of the property.
Pro – Renovating could give you a competitive edge when there are similar properties for sale in the area.
Con – Buyers might not love your purple feature walls as much as you thought they would, and your taste could drive them away.
Pro – It might be just plain necessary to do some work before you can sell your property, depending on the condition.
Con – Renovating can be a real pain in the proverbial – are you ready for mess, stress and lots of aching muscles?
So how do you decide? There’s no simple answer here, I’m sorry to disappoint you! If the pros and cons have your head spinning, try speaking with a few real estate agents. They should be able to give you an idea of what work should be done to achieve the price you want.