Before you find a real estate agent and put your home up for sale, you might be tempted to do some renovations. But is that really a good idea?
While you might be driven by the possibility of attracting more interest or getting a higher offer, it might not be in your best interests to renovate a house prior to selling. Consider these 7 reasons why this may be the case.
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You’re Not Psychic
One reason you should avoid renovating your home before putting it up for sale is that you can’t possibly be sure what will appeal to whoever does ultimately want to buy your home. So you could be wasting money.
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Renovate a House? Avoid Slippery Slope!
When weighing home renovation advantages and disadvantages, you need to be wary of going overboard. You might start out wanting to lay down laminate flooring in one room. But that could lead to more projects.
If you’re not careful, you could wind up spending more than you had intended simply because of the temptation to take on further projects.
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You Can’t Afford it
Another reason to take a pass on the idea of renovating your home before you put it up for sale is if you simply can’t afford the renovation. Chances are you won’t recoup everything you spend on the project anyway.
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Your Home Is Fine as Is
Are you asking yourself, “Should I sell my house as is or should I renovate?” One thing’s for sure. If your home is fine as it is, then it’s best to sell it as it is. Sure, there’s always something that can be done. But is it really worth it?
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You Don’t Need the Stress
When thinking about renovation pros and cons, you’ll want to consider how much stress you want to take on ahead of selling your home. You’ll need to find a contractor, make time to be home during the project, and much more.
It might not be worth the hassle to get work done ahead of finding a buyer. So if pondering whether to renovate or sell your home, the latter is better.
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You’re Willing to Reduce Asking Price in Lieu of Renos
If you realize your home needs some work but are willing to cut the price in lieu of undertaking renovations, then it’s best to sell your home as it is. You’ll be able to avoid the headaches associated with hiring contractors.
When to renovate a house? If your home has some serious shortcomings — such as plumbing issues or a damaged roof — you might need to renovate. At the very least, you’ll need to be upfront with any prospective buyer.
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You Need to Move Yesterday
Do you need to move sooner rather than later because of, for example, a new job in another city? If so, you might want to put your home up right away rather than take on a renovation project first.
You’re Better Off Selling Your Home as Is
When you stop to think about it, you’re more likely than not better off if you don’t renovate a house before you get your realtor to list it. It might seem like a good idea to do some renovations first, but that could be a mistake.
At the end of the day, it’s your decision whether or not to get work done. But think things through should you wish to renovate your home.
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