When you’ve decided to move on — whether you’re upsizing or downsizing, accepting a fantastic job offer in another city, or fleeing to (or from) the suburbs — think long and hard about what you really need to do to get your house market-ready. You may be tempted to go into renovation mode, but you might be better off selling your house as-is.
Anything that impacts the home’s operation needs to be fixed before you list, including a leaky roof, a broken furnace, plumbing and the electrical system. These are all things sellers are legally obliged to disclose. If not, a home inspector will identify them to a potential buyer, possibly leading to an offer being withdrawn.
Here are some things to consider when selling your house.
1. Renovation ROI may not be there
Most home renovations don’t pay off instantly. Complete bathroom and kitchen renovations add the most value but also cause the most disruption and can be very expensive. If these rooms haven’t already been renovated, don’t start now. Focus on making sure the existing selling features of the home are in great shape.
2. Living in a renovation zone is stressful
If an owner is fortunate enough to own a larger home with multiple bathrooms and a spare room or two, renovating may not be quite as challenging as it is for those in smaller spaces. But unless personally doing all the work yourself (and sometimes even then), you’re at the mercy of your suppliers’ timelines. You have to live there while renovating even though you’re not going to be the one to benefit. Before you sink $20,000 into a last-minute kitchen transformation, consider just painting or replacing cupboard door fronts and adding new hardware.