Should I Renovate or Sell "As-Is"?

Are you trying to decide whether to renovate or sell "as-is"?

So you are thinking of selling your home, but you aren't sure if you should do some improvements first - and if you do, will it bring in more money when you sell it?

This is something I encounter a lot when I meet sellers.  Rarely is a home "show ready" the day someone decides to sell. And there are plenty of homes on the market that are certainly not show ready. Really each home, each owner's financial situation, each market, and the sellers motivation can factor into the answer of whether to renovate or not.

Renovations may include a new kitchen, bathroom, adding more square footage, changing the floor plan or even changing the architectural style of the home.  Renovations are definitely more costly and take more time than simple improvements.  So doing them should be thoughtfully considered.

So why would you bother to renovate to sell? 

An unappealing floor plan, a worn out kitchen, broken bathrooms, a deck in disrepair and other signs of wear and age may turn off buyers and cause them to view your home as a "fixer" they can get at a discount. A home that doesn't appear well maintained looks like $$$ flying out the window to buyers.  Unless you are prepared to sell below market, you should consider renovating - or at best making some improvements.

Consider renovations are generally expensive, and if you can’t recoup what you spend, well it’s a no-brainer - why bother?  Sometimes selling below market is actually a win.  It's really the bottom line that matters.

If you decide to renovate, do your home work, hire trusted professionals and stay in a budget.

That said, there is always a return on investment for putting in a a few weekends of decluttering, yard work and cleaning.  Staging is proven to help homes sell faster and for top dollar.  How far you want to take the fix-ups takes a more in-depth analysis.

There is a happy medium here between sell "as is" and renovate to sell. It just depends on your situation and the local market.

If you would like me to come out and take a look at your home in the Cary/Raleigh area and give you my expert opinion, I'd be happy to do that - just give me a call.