If you are a Corona Homeowner who is seriously considering whether to sell your house, you know there are many practical details that bear careful consideration. One of the first is the decision regarding whether or not -- and if so, to what extent - refurbishing or upgrading the property will be a sound financial move.
The first and most obvious advantage of making home improvements before you sell your house is that you can be sure that it will become more attractive to potential Corona buyers. A house that clearly signals the need for after-purchase repairs can be expected to garner lower offers that factor in those costs, which may be exaggerated (or even wildly exaggerated due to 'fear of the unknown'). On the other hand, a well cared-for home in move-in condition can be your biggest weapon in countering any Corona REO's that might weigh in the opposite direction. Setting your home apart from the crowd can be a shortcut to a quicker sale.
Elizabeth Weintraub, author of Top 10 Do It Yourself Home Improvement Mistakes, says, “Overall, buyers want to buy a home that has no deferred maintenance, newer appliances, updated plumbing, electrical and heating (including a/c), modern conveniences and is ready to occupy.”
The ultimate advantage to making improvements before listing a Corona home for sale is the lure of meriting a higher price. A renovated house just feels like new to potential buyers. Fresh renovations justify a higher value to any property -- much more so than had you left those questionable white shag carpets in the family room!
On the other hand, a disadvantage to consider is the fact that making substantial home improvements before you sell your house will result in a measurable time delay. Home improvements that were expected to take weeks but actually require months to complete can result in a delayed listing date. This time of year the timing element may not be as important as when the risk of missing a major part of a prime selling season is more in play.
The greatest imponderable in considering the advantages and disadvantage of doing home renovations before you sell your house is the impossibility of precisely predicting the bottom line resale value of the improvements. You may recall stories from your neighbors about the profits they made after a quick remodel or fixer flip. It doesn't happen all the time or even most of the time.
The good news is that careful consultation with a qualified agent before you start a renovation campaign can reap concrete results. As experienced Corona agents, we know what sells and what could turn out to be a waste of money and time.
If you have been considering a renovation before you sell your house in Corona and/or other Areas, please don't hesitate to contact me to schedule a consultation.