In today’s environment of demand exceeding supply, buyers are often willing to overlook minor repairs or updating to get the size and location they are looking for in a home.
So, the answer to the question, “Should I update before selling?...” is PROBABLY NOT.
When the market was flooded with homes for sale a few years ago, renovations and updates were a way of helping a home stand out in the crowd. But the tables have turned, and it is buyers fighting to make their offer stand out in a crowd of multiple competing offers that has become the new normal.
According to the National Association of REALTORS® 71% of the homes sold in the month of September were on the market for less than a month and the average home sold received over 3 offers.
This does not mean that every house listed will sell with competing offers in a few days, nor does it mean that updating is never the right answer. That is where a REALTOR® can make a huge difference in your decision making. We are out there every day helping buyers search for their dream home, so we typically have valuable insights and recommendations for sellers to consider. For example, Kitchen and Bath renovations are fabulous and if you plan to stay in your home for a few years then by all means spend the money and enjoy. However, if you are looking for less expensive improvements that will enhance marketability right now, spend your money OUTSIDE Outdoor entertaining is more popular than ever which means decks, porch expansions, and outdoor kitchens are areas where you will see the best return on your investment in today’s market.
If staging is your concern, always remember one very important thing. LESS IS MORE. Less furniture makes a room look larger. Less artwork, nick knacks, and collectibles will bring more focus onto the home rather than your “Stuff.” Countertops should be as clear as possible, lamps are beautiful and sometimes essential, but they can make a room look cluttered. Heavy drapes block natural light and while a rug can be a fabulous source of color for a large room, those colorful little kitchen rugs can be an unwanted distraction. In my opinion, the best nonspecific staging advice I can give anyone is this ...”If you can live without it until your home is sold, pack it up and put it in storage. You are going to be moving soon anyway, why not get a head start.”
In all my years selling Real Estate I have genuinely never seen a market like the one we are in now. If you are ready to move, let’s connect to determine your best next steps to insure you get the best possible price with the least amount of inconvenience. Give us a call at 817-219-0456 or visit us online at www.WeSellGranbury.com.
Portions of this article were sourced with permission from KeepingCurrentMatters.com.
pamK@knieperteam.com | 817-219-0456
Pam Knieper, Broker/Owner of Knieper Real Estate is and has been the #1 Top Producer for more than 15 years in Hood County and running. She is known as the Waterfront Expert and the Authority on Real Estate!