If you’re a homeowner thinking about selling, you may be considering making some updates to your property to help you get top dollar. If you are wondering if it is worth the time and investment there are some things to consider before you make your decision.
Where is your property located?
Take into consideration the current market conditions where you own your property. Not all markets are the same and it will likely depend on who your buyers will be. If you are in a residential area with mostly single family homes where people spend more than 10 years in their homes, buyers may want the option to make their own upgrades to really make it their own to suit their lifestyle and tastes. Maybe the majority of buyers in your area plan to raise a family and stay for years. In that case power washing and a fresh coat of paint along with adding some curb appeal may be all you need before listing your home for sale. Before you make any improvements you should meet with a real estate agent so they can educate you on current market conditions and who the buyers are in your area.
If your home or condo is on one of our barrier islands or on the beach then you are likely to attract more buyers who are relocating from other states as well as investors looking for vacation homes and second homes. The demand for properties in these areas is very high right now and supply is having trouble keeping up. While sellers in this market may think they don’t need to do anything to sell, buyers are willing to pay top dollar for turn-key properties that they can move into right away. Buyers new to South Florida most likely won’t have local contractor connections to do upgrades and remodeling. They don’t want the hassle of finding contractors and managing the work. And, finding temporary housing while remodeling is difficult and expensive. It is worth the extra time to do some more significant updating for these types of homes and you don’t necessarily have to go out of pocket to make these improvements. Talk to your By The Sea Realty agent about our concierge listing services. You don’t have to pay a dime until closing!
What sort of updates should you do?
Sometimes the simple things help get the best return. If your property is not completely outdated, a fresh coat of paint, new appliances and maybe new tile in the bathroom and showers can help make a quick sale. Buyers like a clean and fresh look. Changing the hardware on your cabinets and replacing interior doors can also help you spruce up your property for not much money. For single family homes you should definitely upgrade your “curb appeal” and consider landscaping and outside paint. First impressions go a long way towards getting higher offers.
If your home is outdated then remodeling the kitchen and/or bathrooms goes a long way for folks looking for turn-key homes and condos in our South Florida market. Move-in ready properties generally sell quicker and for more money, especially in our beach markets. Ask your real estate agent about the comparable sales and what the updated, move-in ready homes sell for as opposed to properties that need work.
What are your options?
Many homeowners grapple with how much money to invest into a property before listing and what upgrades will get the best return. That will depend on your market and the analysis by your real estate agent. Spending money upfront may not be the only option. Home sellers now have the option to make the necessary improvements before listing the property, and they don’t have to pay for the improvements until closing. They can also get information on the latest trends and what is selling on similar properties. In order to offer our sellers with these options By The Sea Realty has partnered with Curbio to provide concierge services to our customers.
“Curbio is the leading home improvement company for Realtors® and their selling clients in the US, with a fast and effortless process to repair and update homes before they go on the market while deferring payment until closing.”
Listing and selling property is best managed by real estate professionals. When the time comes to list your property for sale, please consult with a By The Sea Realty agent and a dedicated project manager from Curbio. Together we can provide you with the information and options you need to make sound decisions about pre-sale home improvements.