Many homeowners opt to pursue home renovations to increase the value of their property prior to selling. A question that frequently comes up among first-time sellers is whether renovating is even worth it when you know you are going to sell your home anyway. After all, pouring money into an asset you intend to sell could eat into a sale’s profitability depending on how the renovations are carried out.

Here’s what you need to know about renovations and how they relate to selling real estate.

Increase Home Market Value

The right renovations, statistically speaking, can increase a home’s market value and elevate the amount of money that gets offered to buy your home.

Pursue High ROI Renovations

The correct renovations to pursue are those that justify a higher asking price and that will increase what someone is willing to pay for your house. These renovations are often tied to kitchen and bathroom upgrades. If nothing else, focus on what you can do within these two areas of your house.\

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Buyers Will Pay More

Homebuyers will pay more for a move-in ready home compared to a fixer-upper or one that they have to make modifications to.

Compete With Other Houses For Sale

An outdated home is going to be passed over by a lot of buyers who will search for and find more fresh, modernized properties. If you’re serious about selling your home for maximum dollar, a renovated home attracts more interest and keeps you competitive with other real estate for sale.

Sell Your Home Faster

A renovated home will spend less time on the market and sell faster because of its increased appeal.

Improve Buyer Perception

The right renovations can update and upgrade your home, improving buyer perception of your property. If they interpret your house as being worthy of value, their offer will match this perception of value.

Increase A Home’s Appraised Value

After you renovate, your home will receive a higher appraisal which will work in your favor during sale negotiations.

Make A Positive First Impression

A buyer visiting your house for the first time is going to walk away with a certain impression. When you polish up your property and present a warm, inviting atmosphere, this is what people will remember when they leave a showing or open house.

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Pre-Emptively Address Buyer Concerns

A renovation is a big chance to address inspection issues and buyer concerns before they present. Make small repairs and fixes. Address any issues brought up in a home inspection. Reduce buyer hesitation.

No Need To Apologize

If you’re the type of person embarrassed about the state of your property, a renovation is a way to instill pride. As you post your Etobicoke house for sale in real estate listings and online, you won’t feel inclined to apologize for anything.

Fix Layout Issues

Older homes can have some daring layout issues that you can address by reorganizing your home’s structure. Improve flow and usability. Create more practical, open spaces. Add closets or built-in storage options.

Improve A Home’s Energy Efficiency

Energy-efficient upgrades are a smart investment, such as new windows, insulation, new appliances, LED lighting, smart thermostats, and more. Though you don’t want to go overboard with smart, environmentally-friendly renovations, making some essential updates can prove very valuable.

Not sure about renovating if you’re going to sell your home in Etobicoke? Consult a real estate agent at Adrian + Andrea. We know local market trends, buyer preferences, and understand the ins and outs of maximizing ROI on a sale. Allow us to help you sell your Etobicoke house and get the most possible, regardless of whether you decide to pursue a renovation or not.

We can help you sell your home! Reach out to us today! Call us at (416) 319-6893 or email info@adrianandrea.com.