When planning to sell a house, many homeowners focus on increasing their home’s value and attract potential buyers. Renovating and remodeling before putting the house on the market is a great way to achieve this goal. In fact, many real estate experts recommend remodeling before a real estate transaction to help increase the home’s value, and as a result, attract a wider range of potential buyers. Here’s why remodeling before a real estate transaction could be on the advantage of the client selling the house:
- Increases Home Value
Renovating and remodeling helps increase the value of the property. Homebuyers are willing to pay more for a house that is in excellent condition and has the latest features. Remodeling can be as minor as painting the walls or as major as updating the kitchen or adding a bathroom. These small changes can make a significant difference in how much a buyer is willing to pay for the property. In fact, homeowners can expect to see an increase of between 10% to 20% in the value of their home after remodeling.
- Enhances the Property’s Appearance
A well-maintained house with modern features and amenities is more attractive to buyers. Remodeling before a real estate transaction can help improve the property’s appearance and make it more appealing to potential buyers. Updating the paint, flooring, and lighting, and adding modern appliances and features can make a house look more contemporary and welcoming. This can also make the home more appealing to a wider range of buyers.
- Reduces Time on the Market
Homes that require extensive repairs and renovations are often harder to sell. Many buyers are looking for move-in ready properties and may be deterred by homes that require major repairs or remodeling. On the other hand, a house that has already been remodeled is more attractive to buyers and is likely to sell faster. In fact, according to some real estate experts, remodeling before selling can reduce the time a property spends on the market by up to 50%.
- Helps the House Stand Out
In a competitive real estate market, it’s essential to make a property stand out. A house that has been remodeled before a real estate transaction is likely to attract more attention from potential buyers. Remodeling can make a property unique and more appealing to buyers, which can help it stand out from similar properties in the same price range.
- Increases Sale Price
One of the primary reasons homeowners consider remodeling before a real estate transaction is to increase the sale price. According to the National Association of Realtors, homeowners can expect to recover between 50% to 80% of the cost of the renovation when selling the property. By investing in a few remodeling projects, homeowners can significantly increase the sale price of their property, making it a more lucrative investment.
In conclusion, remodeling before a real estate transaction can have significant advantages for the client selling the house. By increasing the property’s value, enhancing its appearance, reducing time on the market, helping it stand out, and increasing the sale price, homeowners can get the best possible return on their investment. It’s essential to work with a professional real estate agent and contractor to ensure that the remodeling projects are completed efficiently and cost-effectively. With the right team in place, homeowners can transform their property into a desirable and valuable asset that will attract potential buyers and help them get the best price for their home.
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