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Should you renovate your home or sell it as-is?

a mini model house and a question mark

Beautiful homes complete with upgrades and a fresh new look are known to do well in the market. But before making that move to give your house a full makeover, see if you really need one by asking these questions:

  • How quickly do you need to sell your house?
  • Do you need to move out right away?
  • Do you have the time and resources to make major improvements to your home?

If you are moving away and need to sell your house as soon as possible, selling your house as-is is a good idea.

What does it mean to sell as-is?

When you sell as-is, you are putting your house in the market in its current condition and a buyer can opt to take it or leave it. While this can save you time and money, be prepared to sell your house at a lower price. Some buyers may even make a low-ball offer for your house to make up for the repairs they will have to do themselves. Remember, not everyone wants a fixer-upper.

Making renovations

If you do choose to renovate your home in preparation for selling it soon, you have to make sure that your expenses are worth it and it will bring good returns on your investment.

Here are some tips for making the right improvements to your house:

  • Check out how the real estate market is doing right now. You will need to check if there is a high or low demand for houses in your area when you sell. Higher demand can let you sell your house with fewer upgrades, while a lower demand means you will need to up your game to find buyers.
  • Inspect your house for necessary repairs. Look closely at your house and spot the cracks and leaks that need fixing. You should check broken windows and appliances that need replacing. Your community may have also updated its safety standards, which means you will need to update your house’s features.
  • Do a comparative market analysis (CMA). Find out what listings have been sold in your area and evaluate if your house can compete with these homes. Looking at these successful sales can help you decide what kind of home improvements will attract future buyers.
  • Make a cost estimate of repairs. List down all the repairs you will make and find out how much everything will cost. This will help you stay on budget and opt out of expensive improvements you may want but not need.

To avoid the hassle, it would be better to contact an experienced real estate agent who can guide you through this process. In Bridgewater and other nearby communities in NJ, the Pagnotta Homes team can work with your goals, make sound recommendations, and even provide referrals to affiliated colleagues in the industry who can give your home a competitive edge in the market. Contact the team at 908.436.7947 or send an email to info(at)pagnottahomes(dotted)com for the fastest and most lucrative way for you to sell your home.