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Are Renovations Worth Risking Your Top-Dollar Home Sale?

Key Takeaways:

  • As a Triangle seller, you have to consider which home renovations are worth spending the additional time and money on before you list.
  • The Raleigh market is starting to shift towards buyers, so now is the time to sell your home before prices flatten out.
  • Lean on our expertise to determine which projects will increase your return on investmentā€”Linda Craft & Team have the seller resources you need to enhance your home sale.

Does Your Homeā€™s Right Buyer Want a Move-in Ready Home?

Many sellers are wondering whether they should sell their homes as-is (without any improvements) or delay listing their properties to complete some renovations. With the upcoming market shift, itā€™s important for sellers to consider which improvements are worth spending additional time on before listing. And while there is no surefire answer, we always recommend relying on your listing agentā€™s expertise to navigate the home-selling process.

Your listing agent should have insight into the right buyers for your particular home, so consult with them to ensure your property is catering to its target market. According to Rocket Mortgage, the average price of a move-in ready property is $250,495, compared to the discounted $199,819 price tag of the average fixer-upper. So if youā€™re a homeowner wondering if renovations will attract more buyers, the answer is that it really depends on how much time and effort you want to put in. And while we canā€™t predict what every buyerā€™s preference will be, we do have some strategies to determine if certain projects are worth the selling delay.

Return on investment should be top of mind

When it comes to selling homes, we always have the same top priorityā€”earning you top dollar. Selling your home for the best possible price should be your ultimate goal; so you have to ask yourself how youā€™re going to accomplish that. When in doubt, here are two things to consider: which improvements will be worth the additional costs, and which projects will gain the greatest return on your investment.

To put it plainly, some renovations simply arenā€™t worth the additional costs. You have to be strategic when deciding which renovations to makeā€”and on the flip side, you also have to consider what buyers want. For instance, a homeā€™s kitchen is always a huge selling point, so that may be a good place to implement some changes.

Minimal upgrades may be the way to go

As a seller, you have to consider both your budget and timeline before you list. If you want to sell your home quickly, then you probably shouldnā€™t tackle a full-fledged kitchen remodel. However, if youā€™re determined to earn an extra dime by doing a long list of renovations, then you just have to be okay with the selling delay.

Throughout our years of successful home sales, weā€™ve noticed a common theme: minor upgrades have huge earning potential. Completing a few short-term projects, such as painting interior walls or sprucing up your landscaping, wonā€™t take long. However, theyā€™ll certainly amp up your homeā€™s appearance. Plus, a few tweaks here and thereā€”replacing door knobs, updating light fixtures, or fixing leaky faucetsā€”will take your home from a work in progress to a move-in ready masterpiece.

Sell now before the market shifts

You may be wondering, whatā€™s the big rush? Well, real estate experts are predicting a market shiftā€”so by waiting to sell your home, you could lose out on thousands of dollars of equity. Increased housing inventory and slower price appreciation are just two indicators of the upcoming shift. As new inventory begins to increase, now is the time to list your home before prices level out.

Put Success on Your Side

In todayā€™s shifting market, you have to move quickly towards what you want. If youā€™re unsure of what steps to take next, Linda Craft & Team are prepared to walk you through the home-selling processā€”and weā€™re here to ensure you receive the highest return on your investment. Contact us at 919-235-0007 to learn more about listing your home, or you can always come to us with any selling questions!

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