Do I Need to Remodel Before Selling in Columbus?

Do I Need to Remodel Before Selling in Columbus?Renovating your home might be at the forefront of your mind if you're considering selling your home in Columbus this year or next. Creating a strategic plan to make your home appealing and attract your ideal buyer (and ideal price) is smart, but it's important to avoid making generalized assumptions. 

If you're wondering whether you should remodel your home before you sell it, we can help. Contact us any time to learn what the current value of your home is, and keep reading for some things you need to keep in mind during the process of preparing your home for sale. 

Avoiding the One Size Fits All Approach

There is no one simple answer to the question "should I remodel before I sell my home?" because there are so many unique factors to consider. The condition of your home, the current real estate market conditions, your timeline, and your financial goals will all impact the answer. 

Home sale expert Bill Gassett, owner of Maximum Real Exposure, has given us guidance from almost forty years as a Realtor. Bill often counsels his clients on what they should do or skip before listing their home for sale.

"One of the questions many real estate agents get from homeowners is whether they should remodel before selling. There are certainly pros and cons when you're considering a significant investment. One of the biggest upsides is having a turnkey property that is likely to be more in line with buyers' tastes in the current market. Most buyers don't want to take on projects. Houses that are move in ready sell quicker and for significantly more money.

On the other hand, one of the biggest downsides is not recouping your investment. Whenever you make substantial modifications the likelihood of getting all the money back is real. It usually takes a few years to be able recoup all the money you've spent plus a reasonable profit.

Most of the time, what's best is somewhere in the middle. For example, selling as-is doesn't make sense from a profitability standpoint, but investing in areas of weakness does. You could paint rooms that need it, replace old carpets, tidy up the landscaping, and make general repairs. All of these things would have an excellent ROI and help the property sell faster.

Compromising is almost always the advice I give to my clients in this circumstance. An excellent real estate agent with experience should be able to provide good advice on where to invest the money wisely."

Assessing Your Home's Condition

Even before you talk with a professional or hire a pre-listing inspector, you can assess the condition of your home for yourself. Start by identifying any necessary repairs or updates that could deter potential buyers. Issues like a leaky roof, outdated electrical systems, or plumbing problems are red flags for buyers and should be addressed before listing your home.

Also consider the cosmetic appeal of your home. Outdated kitchens, bathrooms, and worn-out flooring can turn buyers away. Simple updates like a fresh coat of paint, new light fixtures, and modern hardware can make a significant difference without breaking the bank.

Cost vs. Value and ROI

After you've evaluated your home and made note of some areas that are in need of improvement, it's time to evaluate the cost of the improvements versus the value they will add to your home. In other words, look for remodeling and renovations that have a good return on investment (ROI), focusing on high impact projects only. This isn't the time to fix up every little detail of the home. Instead, look for the projects that will make the biggest difference.

Kitchens and bathrooms are often the best places to start, as these rooms significantly influence buyers’ perceptions. For example, updating countertops, cabinets, and appliances in the kitchen, or installing new fixtures and modern tile in the bathroom, can make a big impact.

Determine whether minor renovations will suffice or if major overhauls are needed. Sometimes, small changes can make a big difference, like replacing outdated fixtures or refinishing hardwood floors. Major renovations, like a complete kitchen remodel or adding a new room, should be considered carefully due to the higher costs involved. We can help you estimate how much a project will boost the value of your home so you can determine if it's worth the cost. 

How can I know what my home needs to sell?

The best way to know exactly what your plan should be is to talk with an expert. We have decades of experience to lean on that can help inform your decision and we're ready to help you decide what makes the most sense to help you reach your goals. 

Ready to learn more about selling your home in Columbus? Contact us any time. 

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