Property

Renovating Property for Estate Sales

Apartment renovation

Everyone who has put up their property for salehopes to find a buyer quickly and have the property off their hands. However, in a market that almost has more sellers than buyers, it is important to have the property in excellent condition to be able to attract any buyers. You, however, don’t have to spend a lot in renovating your home in preparation for a sale. Simple fixes here and there are just enough. Here are tips to help when renovating your property before you sell your own home.

Ensure there is natural light

Natural light has an aesthetical effect on your property. Besides, it also shows that the buyer won’t have to spend a lot to light up the home during the day. Open up the place and the sunlight brighten it up. Open the curtains and raise the shades. It might be necessary to take down the valances too, especially if they have been there for quite a while. Let the buyer decide if they want to install their own.

Take away outdated items

Although you are unlikely to recoup the costs you spend on renovations, it will make your property more marketable if you renovate things that have been outdated. You can replace things such as bathtubs and sinks especially if they have used for a long time and are damaged or cracked. Renovate faucets, cabinet doors, and towel racks. Make sure that the first impression of your best remains the best. You want your property to beat competition in the seller’s market and sell for the amount you wish to sell it for. To leverage the same, updated new designs and finishes must be catered to for a more ‘standing out’ image. You never know, you might find someone bidding higher than the listed price if the facilities are up to date. It is also important to stick to neutral colors when repainting or redecorating the property.

architectural revamp

Stay on the minimal when doing renovations

Keeping in mind that you are unlikely to recoup the cost of renovations and you are just doing it for marketing purposes, try to keep it minimal and simple. Overdoing or over assessing on minute details can lead to the major requirements being overlooked upon. You are also not sure of your buyer’s taste and preferences, so you don’t want to run the risk of turning them off with your own tastes. The purpose of the renovations is to make the property look as good as new. Instead of installing a new kitchen cabinet, you can just repaint it and install new doors for it. Replace the light bulbs. You should focus more on the exterior of the property as the first impression matters. Fix the fence and water the grass. In-house renovations can be undertaken taken where just minor interior wall finishes need to be focused upon. Remaining can be done by the buyer according to his/her personal preferences. 

Fix whatever is broken

Have the home re-inspected before going on sale so that you can fix whatever is broken. There is always a broken item here or there that may have escaped your attention. Don’t try to hide broken items hoping that the buyer won’t notice.  Wall finishes, wooden touches, concrete coatings, etc. need to be paid much attention to as these are the minute details that buyers look into during inspection. If some items require a major fixing that needs a big budget, it is better to raise that with the buyer and renegotiate the pricing to include the repairs than try to hide it. Repairs might take time so start early enough before the property is put on sale. Otherwise, you might give the buyer to negotiate the price of property downwards citing repairs to be undertaken.

Property

Pay attention to bad smell around the home

No matter how attractive the property may seem, buyers will be turned off by bad odors. Make sure that the drainage and sewage system of your property is regularly cleaned and maintained. Clean away waste from pets and stale food. Throw out the waste bins and have them cleaned before being brought into the house. Air out the carpets and the rugs as they usually accumulate dust and odors. Take a walk around the property and see if there are any waste lying around. Even if they are not a health hazard, they will still be an eyesore and therefore should be done away with. Ensure the property has a natural fragrance about it rather than something that has been temporarily sprayed on.

All these factors, in conjunction, ensures that your home is immaculate and maintained which directly sells itself in the market. Buyers are looking for a favorable first impression and the best value for their price. Being a competitive seller’s market, we become obligated to provide the buyers with the best option they can come across and a unique decision to place their bets on. 

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Author Since: Feb 14, 2019

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