Sometimes to stand out from the competition‚ many sellers feel obligated to renovate prior to listing their homes. However‚ depending on the area‚ real estate professionals may want to put the brakes on their clients’ desire to undertake renovation projects.
There’s no doubt that home improvement increases property values, but renovating can be expensive—and there’s no guarantee your clients will recoup all of the costs at resale. With that in mind, is the expense of remodeling worth it?
Some Factors you may want to Consider:
Knowing the market is crucial. In areas with many investors‚ upgrades may not be necessary since buyers will renovate themselves as landlords or flippers.
Since projects can be costly‚ a more affordable choice may be a virtual staging of potential renovation options.
For properties in need of extensive makeovers‚ start small‚ such as updated window treatments or lighting. Then test the home on the market before moving forward with larger projects.
Continue reading: “Why expensive renovations may not boost your sale,” REALTOR® Magazine‚ last updated June 26‚ 2019.
Photo Courtesy by Bartek Wojtas from Pexels
What Home Improvement Projects are Most Desired among homeowners?
**Data pulled from “New Poll Shows Remodeling Desires Remain Strong”; published by Craig Webb, March 9, 2018; Remodeling Magazine, www.remodeling.hw.net.
More about Team Franco
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