If you’re considering putting your house on the market, you probably know that you’ll need to make some repairs and renovations before listing in order to get top dollar. Some renovations may help you sell, but some may not. In addition, certain renovations will yield a good return on the investment at sale time, but others will be just a money sink. The trick, then, is to know which renovations to make and which to avoid. Read on to discover the best use of your money when renovating your house before a sale in Santa Cruz.
Should You Renovate?
When trying to determine whether you should be renovating your house before a sale in Santa Cruz, the decision depends largely, of course, on your personal financial situation. Still, there are other important factors to take into account, such as . . .
Local Housing Market
“Are you living in a red-hot seller’s market or a sleepy buyer’s market? You probably don’t have to worry too much about renovations beyond the basics if it’s the former. If it’s the latter, you may need to make more significant improvements to incentivize buyers to choose your home.”
What Buyers Want
You also need to consider what buyers in your local market want and are looking for. If, for example, most local buyers want a move-in ready home, then renovating your house is almost a must-do. If, on the other hand, many buyers are fix-and-flip investors, then you may not have to renovate much, if at all.
Your Agent’s Opinion
A good local Santa Cruz will know what’s happening in the local market and what local buyers want. An agent “will be happy to tell you what you need to do to make your home sell quickly for a maximum price. . . . [An] agent can help you pinpoint which areas in your home will deliver the biggest renovation bang for your buck. For example, they’ll be able to tell you how much you can sell your home for if you redo the kitchen and whether it’s worth it.”
To consult a Santa Cruz agent before renovating your house, just call 831-588-2334.
Best Bang-for-the-Buck Renovations
Now, let’s take a look at what you can do to get the best use of your money when renovating your house before a sale in Santa Cruz.
Painting
“Painting is the lowest cost improvement with the highest rate of return, so it’s not surprising that 36% of home sellers choose to do it . . . When trying to sell, a nice coat of neutral paint can give the entire house a facelift, and buyers really love to see a fresh blank canvas. Consider getting color recommendations from a trained professional since paint colors can be tricky depending on lighting and other features in the house such as cabinets and flooring.”
Professional painting will run you from $2,000 to $4,000, closet to the upper end if there are, say, a lot of vaulted ceilings and detail work. But painting is something you can easily DIY. If you’re willing to put in the time, all you’ll be out is the cost of the paint, brushes, and rollers – and you’ll see a handsome investment return.
Landscaping
Landscaping is another great use of your money when renovating your house to sell. Remember, curb appeal is what creates that critical first impression when buyers pull up to view your house – and you never get a second chance to create a great first impression. If the yard and outside of your home look attractive, then buyers will want to go inside and see more.
Although professional landscaping isn’t cheap, it remains one of the renovations that promises a good return on the investment. But, as with painting, it’s also something you can do yourself. Mostly, it just takes time and sweat equity.
Repairing/Replacing Flooring
The appearance of floors is important to potential buyers, so this should be near the top of your list when renovating your house. In fact, over a quarter of all home sellers choose to replace carpet and/or repair the flooring. Here’s what industry pros recommend . . .
“If you’ve got lots of rooms with many types of flooring, you might want to bite the bullet and invest in new flooring for all to create a seamless feel throughout the house. Wood floors, or even faux-wood floors, are preferable to carpeting even though those options can be more costly . . . If, however, you can’t afford to upgrade to wood, new carpeting is still a major selling point. And just like with painting walls, a good neutral color is best.”
Updating Light Fixtures
Always consider updating light fixtures when renovating your house. It’s easy to do, and the investment is small (compared to other possible renovations). And updating light fixtures can greatly impact the appearance of your home’s interior.
If, however, updating fixtures throughout your home sounds too expensive, you can at least remove the largest and most outdated fixtures. If, for example, “that giant 1980s chandelier is eclipsing the living room, don’t feel like you have to replace it with something fancy – just take it out. The buyer can easily imagine for themselves what they’d like in the space, and you don’t have to spend a dime.”
Consult a Santa Cruz Agent When Renovating Your House
As we mentioned early on, local market conditions will play a large role in determining the best use of your money when renovating your house. That’s why it’s so important to have an experienced local agent in your corner, an agent with intimate knowledge of your market. So when you’re looking to renovate your house before a sale in Santa Cruz, contact us at 831-588-2334.
