Read This Before Getting Your Home Ready To Sell!
Are you thinking about selling your home? Do you have some renovations you want to complete first? Give us a call before you break out your tape measure! "Right now, with so many buyers competing for available homes, renovations may not be as important as they would be in a more normal market. Here are a couple things to keep in mind if you’re thinking of selling this year.
1. There aren’t enough homes for sale right now.
A stable market has a 6-month supply of houses for sale, but today’s housing inventory sits far below that. According to the National Association of Realtors (NAR), there’s only a 1.9-month supply of homes today. Right now buyer competition is high and homes are only on the market for an average 21 days, during which time many receive multiple offers.
In todays competitive market that’s moving so quickly, spending costly time and money on renovations before you sell might just mean you’ll miss your key window of opportunity. While certain repairs on your house may be important, your best move right now is to work with a trusted local Realtor to determine which improvements are truly necessary, and which ones are not likely to be deal-breakers for buyers.
As a seller, your money and time might be better spent on small cosmetic updates, like refreshing some paint or power washing the exterior. Instead of over-investing in your home with upgrades that the buyers may change anyway, work with a local Realtor to determine the key projects that will maximize your listing, without overdoing it.
2. Focus on getting a return on your investment.
If you're planning bigger projects, you and your Realtor will want to discuss the potential return on your investment and if those projects are worth the cost. Some homes need a kitchen or bathroom remodel, roof repairs, or other major work, but not all of them. You might be surprised by how well your home could fair in today’s sellers’ market.
Give us a call before you renovate to see if it’s the best course of action. You may find that putting your house on the market as-is will help you sell quickly, and it may result in the best return on your investment. Every home is different, but a conversation is mission-critical to making sure you make the right moves when selling this season."
We are in a strong sellers’ market, and that means you have the leverage to sell your house on your terms. Let’s connect today to determine if renovating is really the best way to spend your time and money before you sell.