- As a seller, it’s important to consider which home renovations are worth spending the additional time and money on before you list.
- Not all renovations are profitable, so you can lean on your real estate agent’s expertise to determine which projects will increase your return on investment.
- Here at Linda Craft & Team, we’ve helped hundreds of clients sell their Triangle area homes—and we know just the way to sell yours for top dollar, too!
Our Real Estate Agents Know the Right Renovations to Make
In today’s red-hot sellers’ market, many Triangle homeowners are wondering what is worth renovating before they list their properties. As your trusted local real estate resource, our agents at Linda Craft & Team are here to share which renovations we know will increase your return on investment.
Here’s the correlation between housing inventory and buyer behavior
Have you ever wondered what makes today’s housing market geared towards sellers? A balanced market means there is an average six month supply of homes for sale. If the monthly supply of housing inventory is below the six month mark, then we’re in a sellers’ market. According to an updated report by the National Association of Realtors (NAR), our current stock of unsold inventory is at a 2.6 month supply, which means we’re still in a solid sellers’ market.
So, what does this mean for you as a seller? Housing inventory directly coordinates with buyer behavior—when there aren’t as many homes on the market, buyers are more susceptible to purchasing a home and renovating it themselves. On the other hand, high housing inventory gives buyers the luxury of being picky.
Passing fads and profitable sales aren’t friends
It’s important to understand that no two renovation projects are the same, with some undeniably requiring more time and money than others. When listing your home, you want to make it marketable to as many prospective buyers as possible. Therefore, you want to avoid any niche home designs or trendy remodeling projects. As an article by Renofi.com notes, “The last thing you as a homeowner want to do is center your home design around a passing fad.”
Before you invest in any renovations, consult with our team of experienced agents. We’ve helped hundreds of clients list their homes—we know what sells and what doesn’t. When it comes to remodels, we always recommend airing on the side of classic, rather than trendy.
Utilize the upgrades you’ve already made in your property listing
Have you already completed renovations on your house? With people spending more time at home in the past year due to the pandemic, many homeowners tackled their own HGTV-style home improvement projects. HomeAdvisor’s 2021 State of Home Spending Report discovered that many households undertook remodeling projects, with 35% of households doing some interior painting, 31% remodeling bathrooms, and 26% installing new flooring.
Make sure to let your listing agent know if you’ve previously completed renovations on your home. This way, your agent can competitively price your property and highlight the renovations in your listing.
Let Linda Craft & Team Be Your Renovation Resource
Here at Linda Craft & Team, our clients’ return on investment is our top priority—which is why we want you to prioritize your home renovations. With some renovations being more beneficial than others, it pays (and saves) to only invest in remodeling projects that enhance your home sale. Partner with our team of top Triangle area Realtors today to maximize your home-selling potential!