Thinking of Selling Your Home? Renovations in a Seller’s Market

by | Mar 12, 2024 | Community, Events | 0 comments

So you’re ready to sell your house! But with a hot seller’s market like today’s, you might be wondering if you should renovate first. Should you spend time and money fixing things up, or will buyers be happy to take it on themselves? The answer, like most things in real estate, depends.

 

Why a Seller’s Market Might Mean Less Renovation

 

In a seller’s market, with fewer homes available, buyers are often more willing to overlook cosmetic issues and tackle renovations themselves. With limited choices, buyers are more likely to compromise.

 

The National Association of Realtors (NAR) reports that our current housing market leans heavily toward sellers. There simply aren’t enough houses to meet buyer demand, which means buyers might be more flexible on move-in-ready features.

 

Focus on Smart Upgrades, Not Fads

 

Not all renovations are created equal. While it’s important to make your house appealing, avoid chasing trends or expensive projects that won’t recoup your investment. A buyer with a vision for a unique kitchen backsplash might be perfectly happy with a neutral option you can install yourself.

 

Highlight Existing Upgrades

 

Many homeowners took advantage of the pandemic to tackle home improvement projects. If you’ve already completed some renovations, be sure to let your real estate professional know.

They can showcase these improvements in your listing, making your house even more attractive to potential buyers.

 

When it comes to renovations before selling, focus on getting the most value out of your investment. 

 

Thinking of selling? Connect with one of our agents on The One Team to discuss any upgrades you’ve already made and explore which renovations might help you maximize your home’s selling potential.