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Is it worth the hassle or investment to remodel an older home before selling it if you don’t have time or knowledge for such project?
Likely not. It really hinges on what your costs are and what you expect to realize from the sale of the property. If the place is solid and clean and can be easily "freshened up" with paint and some cleaning you're probably better off keeping your cash and just selling for what you can get. Improvements such as this at the time of sale are rarely worthwhile in my opinion.
I don't believe you can recoup the cost of a big remodel before selling but I definitely believe you can come out ahead by doing some 'freshening up' like painting scuffed or worn walls and cleaning/polishing woodwork.
Maybe get rid of outdated and faded window treatments as well.
You are probably better off leaving big ticket items such as tearing out carpeting to put in wood floors to potential buyers.
The more knowledgeable builders/contractors on here will be able to offer opinions on bathroom redoes or kitchen updates.
As a buyer I can tell you that a 'bad' kitchen will turn me off on a home pretty fast.
Do a deep clean, calk any drywall cracks, paint in neutral colors. Interview several realtors. Then talk to a couple of stagers as they can make a house look inviting.
You want to make your property attractive but you will need to price it to reflect your local market.
Not renovating gives buyers more optionality. If you renovate you must raise the price. At best the higher price will cover the renovation costs. Some people are willing to live in a dated house.
It probably depends on whether you can get your asking price as is. Remodel, no. Some cosmetic improvement, maybe.
When we sold my in laws house, it just sat there without offers for 6 months. We got another realtor after the 6 month contract expired and he suggested we paint the walls white, pick up the carpeting and buff and polish (not refinish) the hardwood floors underneath the carpeting. He even recommended someone to do it at a reasonable price. We did that and the house sold right away
A friend of ours sold his house to a buyer who planned to renovate and expand the house. They were only interested in the house and property size and location. He sold the house as is. It would have been a waste for him to do anything to the house.
If your house is worth 600k in tip-top shape, and 500k in it's current condition, ask yourself what you need and what the cost is. Paint, kitchen and bathrooms are the big things, at least that what several realtors have told me over the years.
If it costs 3k to paint, 15k to redo the kit, 8k each to do two bathrooms, 1k to refinish hw floors, 2k to recarpet, and 10k to do new windows, that's 53k in your pocket you didn't have before.
But if the house is 550k in tip-top shape, and 500k in it's current condition, then you gain next to nothing.
DO some research, have some contractors give you estimates, weigh the time it will take to do the renovations, and how inconvenienced you will be while the work is taking place.
I'm a big believer in "as is" sales; what you see is what you get! And with a lot of the flip jobs, I would end up ripping everything (new) out because it's not to my preference and usually done cheaply and tastelessly to look spiffed up. Better to let the buyer make the changes HE deems necessary and do it to his OWN taste...
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