It is no brainer. Whether to renovate or repair your home depends on its condition, the return of investment, and your goals.
A renovation involves replacing an existing feature with a new one, like replacing a new heater for an old heater. Repairing is a modification of an existing feature to bring it back to its original working condition. While renovations help to increase the value of your home, the money you put in renovations are not always recouped.
Of course buyers love upgraded kitchens and bathrooms, but you should also be realistic. You don’t know how much money you will need to renovate your home, if you spend too little, the result may not be good, if you spend too much, there’s risk of not getting a high return on investment or not getting your money back at all. So you have to decide wisely.
If you’ve chosen to do some renovation to help sell your home, remember these tips:
- If it isn’t broken, don’t fix it.
- When removing fixtures, replace them with a similar or better item.
- Do not over spend.
- Renovations do not have to be your preferred things, consider what the majority of home buyers like.
- Visit open houses or check out comparables in your neighborhood and see how you can do better.
Remember, your return of investment depends on the value of your house, the value of houses in your neighborhood, your local housing market, the quality of your project, and how soon you sell after making improvements.
Read more: How to Declutter Your Home for Sale
Are you selling your home? We can help! The J Michael Manley Team go above and beyond to get your home sold in the market. Our marketing efforts are geared toward getting your home sold as quickly as possible for top dollar.
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