Should I renovate before I sell?

Scott Hunt

Should I renovate before I sell? It’s a question a lot of people ask themselves when deciding to put their home on the property market.

Ultimately as a vendor your strategy is to get the best price, so the last thing you want is your renovation costing more than you get in return. So how do you determine how much, if any, renovating you should do.

It’s a question that is ultimately too hard to answer without looking at your property first. Every property is different and all aspects of the home need to be viewed as a complete package. It would be wrong for any real estate agent to suggest any renovation before viewing a home and that’s why the right real estate agent will also have a good knowledge of the current trends in regards to property facades, interior design and landscaping.

Often people think they need to renovate the kitchen, or lay new floor coverings and while these are nice things to do to freshen up the appearance of your home, they may not actually add any monetary value. You could spend $20,000 on a new kitchen that potential buyers may not actually see the extra value in, especially if they do not like the kitchen you have chosen or have their own ideas anyway.

Making changes to the home that suit your particular taste may not interest your target market, so as sellers it’s important that you are able to detach yourselves from the property and look at each room through the buyer’s eyes.

To sell your property the key is for the prospective buyers to be able to see themselves living in your home; imagining their family being comfortable and enjoying the lifestyle your property can provide. The last thing you want to do is spend time, money and energy renovating your home, to find out all you really needed to do was have a good declutter and clean.

So be careful when you do any renovations or repairs. Make sure that whatever you do, you will get at least your money back or more. Discuss any changes you are thinking of making with your real estate agent, they will be able to advise you on the relative value with your local market, the target market for your particular home, and what that target market are looking for.