Should You Renovate Before Listing Your Home?
If you’re considering selling your home, you may be wondering whether you should fix it up before it goes on the market. Here are the pros and cons to think about.
The pros
- You could improve your home’s kerb appeal.
- Your home will look good in the marketing photographs. Many buyers flick through online listings quickly, so it’s essential to catch their eye.
- You may get more and better offers. (Perhaps because more people are persuaded to view your property.)
- It could add value to your property – depending on the work you’ve done.
- Some buyers are put off by the idea of doing renovation work and prefer a refurbished property.
Rightmove estimates that, on average, a fixer-upper sells for a discount of 12%, suggesting many buyers value a ready-to-move-into property.
The cons
- You’ll have to cover the cost of doing any work. There’s no guarantee you will get what you spend back, so there’s an element of risk.
- Your buyer might undo your good work as soon as they move in. That would be a waste, and not very environmentally friendly.
- If the work is completed to a poor standard or not to buyers’ tastes, it could make your home less appealing.
- It might not be worth it. Fixer-uppers can be very popular with buyers looking to make their market on a property.
Yopa says that fixer-upper homes are increasingly popular with buyers. They say this is because of the lower initial outlay and the ability to spread the cost of improving them over time.
To renovate or not – what is best?
Common sense might suggest that buyers will always prefer a newly renovated and redecorated property. But that might not always be the case.
We’d always recommend that sellers ensure their property is clean and tidy, the décor is in good order, and that any issues that might deter buyers are addressed. But be realistic about what it’s worth doing and what it’s worth spending.
If you want to know if you should spruce up your home before listing it, contact us today.
We’ll gladly offer you our expert marketing advice and a free valuation.
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