Should You Really Remodel Before You Sell?

Agents will often recommend making certain improvements to your home before selling in order to increase the value and sellability. But are such home improvements always worthwhile? While certain damage could be worth fixing and while certain outdated features could be worth replacing, you need to consider how much it will cost and how much time it will take to implement. This post lists a few considerations that could help you to determine whether remodelling before selling is a good idea or not. 

How much will it cost?

Some repairs and improvements could cost thousands of dollars. You may not have access to this money without taking out huge loans – and even then, getting approved could be difficult.

Some of the most expensive home improvements include a roof replacement, foundation repairs, full rewiring, full replumbing, extensions, bathroom remodels and kitchen remodels. For many of these, you can expect to pay over $10,000.

There are many remodelling tasks that are much cheaper. Repainting walls, adding new light fixtures and replacing small worn details (like old door handles and old faucets) all don’t cost a lot of money – and will make your home more attractive and valuable.

How much value will it add?

The key to remodelling before you sell (especially when house flipping) is to make a return on your investment. In other words, you want to get more money out of it than you put into it.

For example, a new roof could add $15,000 to your home’s price tag. If it costs $10,000 to install the new roof, you’ve then made a return of $5,000. However, if it costs $15,000 or more to install a new roof, you’ll have made no profit. Make sure to talk to agents before you invest in any improvements to work out exactly how much value they can add – you should then shop around for quotes to work out whether it’s financially worthwhile. 

How soon do you need to sell?

Remodelling your home could take months. This could delay the sale process. If you need to relocate quickly for a job or for other reasons, then you may not have time to remodel your home and sell it. 

It’s true that remodelling could allow you to find a buyer more quickly. However, you may just find it easier to sell your home to a home-buying company such as Sellers Advantage. These companies are willing to buy any home in any condition. You won’t always get the best price by using one of these companies, however you will be able to secure a quick sale if you’re in a hurry to move out.

Is any home really unsellable?

If your home has major damage or has seriously dated or controversial decor, you may find it practically impossible to sell your home privately or via an agent. However, even these types of homes can usually be sold to home buying companies, developers or at auctions.

These alternative selling methods won’t make you a lot of money. However, they could save you the time and money that you would otherwise have to pour into your home if you were to sell it conventionally. In other words, if your home is in poor condition, you don’t have to remodel in order to sell it.