Renovations - Best Use of TIME and MONEY

Dated: August 16 2021

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Best Use of TIME and MONEY When it COMES to RENOVATIONS

Renovation

House remodeling is messy and some people need help

That’s where a trusted real estate professional comes in. They can help you best to make use of time and money when it comes to renovations.

And think through today’s market conditions and how they impact what you should – and shouldn’t – renovate before selling.

Agent

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Here’s a list of ways a real estate professional can help you:

     1. In these times of the pandemic, buyers learned how to DIY (Do-It-Yourself)

According to a recent report by the National Association of Realtors (NAR), our current supply of homes for sale, while rising, remains solidly in sellers’ market territory:

Unsold inventory sits at a 2.6-month supply at the current sales pace, modestly up from May’s 2.5-month supply but down from 3.9 months in June 2020.”

Houses

Meaning, if you’re a seller torn between renovating or not, there may be buyers willing to buy a home below their needs and renovate it themselves later.

     2. All renovation projects are different

Spending time and money on a project that is not worth the cost is not a good idea. According to an article by Renofi.com, basing home updates on what’s trendy right now can be a costly mistake:

The last thing you as a homeowner want to do is center your home design around a passing fad – even worse, one thats design quality won’t last a good while.”

Beauty

     

Try talking to a real estate advisor before making a move, because they have a lot of insights into what other sellers are doing before listing their homes and how buyers are reacting to those renovations.

     3. However, it’s not too late

A lot of homeowners did some home improvements last year due to the pandemic so you are not alone. HomeAdvisor’s 2021 State of Home Spending Report found:

“35% of households that completed an improvement project undertook some type of interior painting, while 31% completed a bathroom remodel and 26% installed new flooring.”

If your real estate professional learned about your recent upgrades, they can highlight them in your house’s listing.

     Bottom Line

Keep in mind, your ROI should be your top priority to the best use of time and money when it comes to renovations.

Give us a call today

Call us today to discuss any upgrades you’ve already made. Also to find out what you should prioritize before you sell to maximize your home's potential.

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