If you're planning to renovate your home before selling, make sure you do your research first.
Inexperience can cost you. Many homeowners gets the renovation bug and spend thousands of dollars on their aging homes only to discover that they made no profit on the work in the sale.
DIY and home renovation is an enormous market. Inspired by TV shows and magazines, it is hard not to get the bug! All the materials you need are at the hardware store, and some of them even offer free reno classes.
But if you're aiming to boost the selling price of your home by renovating it, you first need to know whether your home really will sell for more if you put the work in.
You need to do a serious market survey to compare your home with others in your area. If yous is the best home on your street, you may have already hit the top of your market and it's unlikely you'll make money on a big reno. It's unlikely a buyer will fall so in love with your house that they must have it at any price.
But with even a small budget, you can improve the look and desirability of your house. It's worth bringing in a professional painter to update your walls with subtle, neutral colour.
Another inexpensive option is to rent new furniture while your house is on the market to modernize the decor in the home.
Talk to some experts, and don't be afraid to hire help. There's more to selecting professional materials than thumbing through a catalogue. It also takes experience to know how to handle the many difficulties that can arise on a job, what tasks require specialized tools, and which products need time to cure or settle to ensure a long-lasting finish.
Your best bet is to ask your realtor and other experts for advice on setting a budget and scope for renovation before you begin.
Most buyers are looking for a bargain, and would like to put their own stamp on their new home. Why not leave them something to do?
Source: HGTV.ca
Posted by David Shieh- Abbotsford Real Estate Agent Landmark Realty Corp.
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