Some homeowners are hesitant to update/remodel before selling, which is understandable, but there are a few things you should consider before making a decision. Here are some myths about remodeling to sell that homeowners should debunk before deciding.
- MYTH #1: Homeowners want to remodel AFTER they purchase the home – Typically, buyers can’t visualize the end result from remodeling. In most cases, buyers want to purchase a fixer upper AND pay fixer upper prices or buy a house they can move into immediately that doesn’t require work.
- MYTH #2: Remodeling takes too much time – Experienced contractors can make remodels an efficient/fast process. Remodeling can also save a seller time as homes that are freshly remodeled/updated will sell much faster than those that are outdated or need repairs.
- MYTH #3: Remodeling won’t pay off – Strategic remodeling of your home, the right areas such as the kitchen or bathrooms, CAN payoff. Small upgrades like replacing faucets and light fixtures or adding a fresh coat of paint can have a huge impact on the appearance of your home. If your budget is tight, spend on updates that will make your entire house feel new and updated, such as paint or flooring.
The MLS is the top resource for flippers to find homes. They find those with outdated kitchens and bathrooms, remodel them and resell for top dollar, but they purchase them for bottom dollar. Why not do the updates yourself and sell your home for top dollar?
Below is an article on Forbes that this info was pulled from; check it out as it’s a decent read. If you’re approaching this situation, or have been involved in this process before, drop a comment below and let me know your thoughts!