Renos Increase Sales Price
We’ve all seen the television shows and the flippers who make a fortune out of renovating and selling houses, they make it look pretty easy, right?. But will renovations increase your selling price?
For people who are looking to sell their home or property to downsize, upsize, upgrade or are leaving the area, just want to sell it, get the best possible price and move on and the question of what to renovate and how much to spend can be confusing.
A full or partial renovation may not fit into your budget, timeframe or even skill level. What do you renovate and will it increase your selling price? How much do you need to spend? What if you don’t have any spare cash? What if you spend all this money and don’t get any of it back?
The answer to all these questions lies in the detail.
And the detail comes out of thorough, skillful research. Details like:
- where your home is situated – the street, the area
- what style of home it is – block, brick, timber
- what other properties have sold recently in your area
- what price other properties have sold for
- how long the properties are on the market
- what buyers do they attract.
Remo and Vince are the local real estate experts in Mareeba. They know their patch well and they know the history of most of the property in Mareeba. They will help you through the whole selling process by providing a detailed FREE Individual Market Report which will include a detailed Comparative Market Analysis (CMA). Knowing the value of your property is a key step.
This is the most important document you are going to need if you’re considering renovations or makeovers. The market analysis will show you what similar homes in your area have sold for, what type of buyers they attracted and this will give you that all important detail we’ve discussed earlier.
Will I get a better price if I renovate?
When doing renovations the return on investment is not necessarily dollar for dollar. If you spend $30,000 for example, will your value increase by $30,000? Not necessarily but an investment in presenting your property well goes a long way to creating a great first impression for prospective buyers.
Your home should looked loved, cared for and look like it has been well maintained. A fresh coat of paint, a tidy up in the garden, mowing the lawns, decluttering by removing all of the personal and extraneous items inside and out (have a garage sale) don’t have to cost a lot of money.
Think about the buyer
If you’re considering a refresh, a coat of paint inside and not increase your asking price $ for $ but it will increase the appeal to potential buyers. Keep the tones neutral so buyers can visualise themselves in the space with their furnishings etc.
Repairs and maintenance are a must. If the property looks a little like it hasn’t been cared for buyers can start to wonder if there’s issues they can’t see as well as the ones they can see. A thorough and deep clean, a decluttering around the yard and in the shed, a tidy up of the garden and a fresh coat of paint take more elbow grease than cash and can do wonders for your property’s potential to be appealing.
Call today for your obligation FREE Individual Market Report 4092 2232 or see more information here.
Other useful tips:
- Kitchens and Bathrooms: Here at Domain they recommend a kitchen upgrade will always be a good return on investment, however, the upgrade must fit the property. Another option could be to paint and maybe replace the tiles or update the shower and hand basin.
- Street Appeal and Outdoor Areas: get down and dirty in the garden and do some landscaping. Make a lot of fuss around the entrance. Street appeal is, after all, a very important first impression for potential buyers.
- Light Fittings: If you’ve gone to the trouble of painting inside think about replacing the light fittings. It’s not an expensive fix but can do a lot for presentation.
Domain has some great tips on renovations, just remember this info mainly targets the Southern States and metropolitan areas so speak to our experts to get property specific assistance.
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