As you think about selling your home, you may be wondering whether renovations are worthwhile. Could home renovations dramatically improve your home’s value and/or help it sell more quickly? Here is some information that may help you decide on pre-sale home renovations in Florida.
The Competition
Take a quick peek at other homes for sale in your community and in your area. Review active, under agreement, and recently closed listings. What is the condition and price point of those properties? How does your property compare in its current condition? If your are primarily competing against newer or updated properties, then it will be much more difficult to sell unless you’re willing to discount your property accordingly.
If you do come across homes similar to yours, how much did they sell for compared to newer homes? Also, how long did they take to sell? This will tell you a lot about what to expect for your home sale and what difference pre-sale home renovations will make.
Return on Investment
Whether it be pre-sale home renovations or any other type of investment decision, you should consider the potential return on investment. Evaluate how much it will cost to make certain improvements and how much your sale price may increase as a result. Keep in mind that not all repairs and improvements are the same. Each should be viewed independently.
For instance, painting is inexpensive and can dramatically change the look and feel of your home. That may be an easy decision. Mid-scale to extensive renovations to kitchens, baths, and floor plans may require more thought. Keep in mind that projects can be performed at different scales. Kitchen renovations, for example, might range anywhere from $20,000 to $120,000. Depending on your target buyer, one scale may be more effective than another.
Time Frame
Another important consideration is time frame. When are you looking to sell and how much time do you have to complete pre-sale renovations. Fortunately, the Florida market tends to be less seasonal than other areas of the country where weather is a factor. Rushing to get your home to market is not always beneficial if it remains on the market, unsold, for a long period of time. Taking the time to renovate and make your home more marketing can lead to a quicker sale overall.
Discuss Pre-sale Home Renovations in Florida
These tips and considerations may seem pretty abstract at the moment. Let us help you with some real plans and numbers. Schedule a consultation with our team. We can discuss potential pre-sale home renovations in Florida including budgets, timeframes, etc. With your thoughts and our creativity, we can help you create a home that any buyer would love to own.
