Should You Sell Your Property As-Is or Renovate First? Here’s How to Decide

One of the biggest decisions you’ll likely face when you want to sell your house is whether to pour more time and money into it or just put it on the market as-is and be done with it.

It’s the classic homeowner’s dilemma, and honestly, there’s no right or wrong answer. What works for one person may not work for another. Your choice pretty much depends on factors like your timeline, budget, and the state of the local housing market.

In this article, we’ll discuss how these factors can shape your decision so that you make the choice that works best for you.

Read on.

When Renovation Makes Sense

If your property looks like it hasn’t seen a fresh coat of paint since the turn of the millennium, then yes, you should definitely consider some updates. 

Buyers today, especially first-time buyers, are only interested in houses that they can move into immediately. In fact, they are ready to pay 3.7% more rather than deal with the hassles of repairs or major projects after closing the deal.

You don’t have to take the entire house apart, though. The trick is to focus on the items that might scare buyers away.

Here are some updates you can do to boost the value of your property before selling.

Curb Appeal

First impression matters, especially to property buyers. So, if you’re investing in repairs and renovations, your first focus should be those areas they’ll see first. 

A fresh coat of paint on the front door can do wonders for the look and feel of your house. A little bit of landscaping work to make the outside more appealing can also go a long way. And don’t forget the garage. Get a garage door repair company over to see if work is needed.

In fact, if you can afford to, get a new one. It will totally transform your home’s exterior, enhancing both functionality and curb appeal, and improving home value, according to Proffitts Garage Door.

Kitchens and Bathrooms

When it comes to the interior of the house you want to sell, the bathroom and kitchen are great candidates for renovations.

A simple kitchen refresh, for instance, whether it’s a new cabinet, a fresh coat of paint, or replacing the countertop, can make a huge difference to the value of your property. The same thing applies to the bathrooms. With a reported 113% return on investment for minor kitchen remodeling, you’ll make back the money you spent, with a bit on top.

Minor Repairs

If you’ve decided to renovate, you might as well look for all the many different things that scream neglect and fix them. Leaky faucets, chipped tiles, a loose banister, even faded wallpaper. Buyers see small problems like these and begin to wonder if there are bigger ones lurking somewhere.

True, fixing minor issues might be tedious. But it goes a long way in making your property move-in ready, and in reassuring buyers that they’re making a sound investment.

When Selling-As-Is Makes Sense

Sometimes, the smartest move is to simply let the next owner handle things. Selling a house without renovating can save you time, stress, and a ton of money.

Here are a few situations when this approach makes sense:

You Need to Sell Off Fast

One good reason to skip renovation is if you’re in a hurry to sell off. This could happen because you’re relocating, dealing with a divorce, or have already purchased a new house.

Renovations take time, sometimes, more than you think. What starts as a “quick fix” can turn into weeks or months of delays and extra costs. If you don’t have that kind of time, selling as-is, especially to a cash buyer, is the best option.

That said, it makes sense to invest in home cleaning so that the space looks clean and inviting. A deep clean, some decluttering, and maybe a touch of staging can make a world of difference.

Keeping your space clean has another side effect: it’s good for your health and peace of mind while you transition to your new place.

You Cannot Afford Renovations

If you don’t have the cash to fund repairs, there’s no point getting started at all. And in case you’re thinking of it, you should never borrow money to repair and sell a house. There are no guarantees that you’ll recoup your expenses.

Basements, for example, have one of the lowest returns on investment, according to a piece on the Architectural Digest, with experts estimating less than 50 cents on the dollar in most cases. That’s a lot of effort for very little payoff.

It’s a Sellers’ Market

If you’re in a serious sellers’ market, where houses go off the market quickly, waiting to renovate can be a bad idea. For one thing, by the time you finish, the market might have turned. For another, in a seller’s market, buyers tend to overlook flaws. They just want to buy and move into the neighborhood.

Wrapping Up

Whether you decide to spend a few hundred dollars to refresh your home or would rather sell the property as-is, it’s important that you make the decision with your eyes open. Weigh the cost of repairs against the time and stress involved, and compare against the offer you’ll likely receive selling as-is. 

If you’re still not sure the route to take, don’t guess. Talk with a professional. They can give you real insights you might miss on your own.