Renovate Before Selling - Oro Valley Real Estate
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Have you ever heard the phrase, "You need to spend money to make money?" I think it totally applies to what this report is about today.
I get asked a lot by my friends and clients about how or if they should spend their money on home renovations before they list their home. "Do I repaint the house or recarpet the living room?" "Do I fix the front door or replace the water heater?"
Here's my two cents on renovating before selling: When planning on selling a house, it's best to put your money into the LEAST expensive things that are going to make the BIGGEST difference. Repainting a room will only cost the amount of paint, brushes, and any splatter cloths you purchase, so this is a great first thing to do that almost every buyer will notice and appreciate (and it shouldn't break the bank). Re-grouting and re-caulking are also good (inexpensive) ideas, as many buyers notice dirty grout and eroding caulk in bathrooms and kitchens.
The exact opposite applies for things to hold off on. Remember, anything that is costly and time consuming (like installing a new pool, reshingling the roof, or tearing down walls to open up space) is better to put off. These may be good ideas, but in the long run they could cost you more in time and money than they'll ever return.
Remember, at the end of the day, it's about getting the most out of your investment.