Should I remodel and sell or should I just sell?
With the fall season upon us, change is in the air. For many families, children are growing up and moving out of the house, maybe leaving for college or taking a jump into the working world. Parents are finding themselves as empty nesters for the first time. The question inevitably arises: is it finally time to downsize?
If you’re pondering that thought, you may also be wondering if you should fix-up your house before you sell it, or go straight to the market as-is, allowing a potential buyer to do the updates and remodeling. If you’re one of the many homeowners in this camp, here are a few tips to help you decide which way to go.
Understanding your market and the potential level of buyer interest and demand for your home is important. In Summerville, we’re currently in a seller’s market. This fluctuates some by price point and can change based on the price range of your home. There are some things worth doing and some things you won’t receive a good return on your investment. One thing every homeowner should do before they sell is declutter. With a quick visit, I can recommend what to change or remodel, and how to declutter your house to make it attractive to buyers in your area.
Right now, the average length of time a family stays in a home is between 9-10 years. That’s a little longer than the historical average. If you’ve been living in your home for a while, it might be time to make some significant improvements. Think electrical system, HVAC units, roof, siding, etc. An inspector can give you a better idea of the condition of your home and recommendations on how to have your house ready before you put it on the market.
You may also be thinking about driving buyer appeal with something like a kitchen or a bathroom remodel. If so, first dig into the market value of your home, and compare it to the actual cost of the remodel. I can help you determine your home’s market value. Then you’ll need a few quotes from contractors on the potential remodel pricing as well. Once you have those two factors narrowed down, you can to decide if a remodel will give you a return on your investment when you sell. Oftentimes, it is actually more advantageous to price your house to sell. list it competitively, and then let the buyer pick the colors they want for their bathroom tiles and the type of countertop they prefer. Here’s an article on the best renovations for their return on investment.
In Summerville, inventory is low, meaning there is less than the 6-month housing supply needed for a normal market. This drives buyer demand, creating a perfect time to sell. If you’re considering selling your house, let’s get together to help you confidently determine what will be the best choice for you and your family.