You don’t really need to renovate before selling these days.

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Today I’m discussing a question we’ve been asked a lot lately, given that our real estate market has changed so dramatically this year: Should you renovate your home before listing it? The quick answer: probably not.

It usually depends, but right now, renovating is unnecessary due to the state of our market. We’ve seen an unprecedented decline in inventory, as you can see in the graph at 0:30 in the video above. We also currently have astonishing demand in our market, so the biggest issue right now is not having enough houses to sell to all the buyers.

Buyers can’t afford to be picky and are more likely to settle for a home that may be cosmetically imperfect, accepting that they’ll have to take on any projects themselves. Whereas in previous markets where you may have had to spend some money renovating and enhancing to be competitive in the market, we’re not seeing that these days.

“Renovating is largely unnecessary
due to the state of our market.”

At the moment, buyers are more willing to take on projects like a kitchen upgrade, bathroom renovation, changing the flooring, etc. Even in a market that’s extremely competitive, you’re still not likely to get a full return on investment on a renovation project. Items such as a garage door replacement, a light kitchen refurbishment, or a deck addition have always provided the best return, but they never provide a 100% return on your dollar.

If you have questions about what you need (or don’t need) to do to your house to prepare it for the market, let us know via phone or email. We can guide you through the process; we stay on top of every trend in the market. We’re always here to help you.