Page 15 - Downsizing
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8. QUERIES ABOUT
MAJOR RENOVATIONS
As agents, we get asked a lot about renovation can make the difference
renovations and, more specifically, between getting a house sold more
whether they'll increase a home's value quickly versus sitting on the market
(or if they're even necessary to do forever or simply not selling.
before selling).
Renovations like a new kitchen or
It's a good thing to ask about because bathroom are often cited as being a
many people don't ask and then end great return on investment. They
up regretting the work they did. can be. But they might not be for
you and your particular house and
Quite often, a renovation project
situation. So make sure to think
ends up costing the homeowner
twice before doing any major
more than it actually increases the
renovation to your house prior to
value of the house. Sure, it might
putting it on the market. Make sure
increase the value, but there's a
to run any project you are
good chance it won't increase it
considering by your real estate
enough to justify the time and cost
agent.
of having done it.
That's not to say that it never makes
sense to do a renovation before
selling. Some certainly do improve
the value beyond the cost of doing
it. And sometimes doing a
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