A major renovation before selling is generally unnecessary, mainly because the cost of the work often can't be added on top of the sale price. Cleaning and improving the first impression, on the other hand, is considered highly cost-effective.
- A major renovation before selling is generally unnecessary — passing the cost through to the sale price is often difficult.
- Some buyers prefer a price that assumes they'll renovate it themselves.
- Fixing broken fixtures or a leaking roof is an exception worth considering.
- Cleaning water areas and addressing odor is highly cost-effective.
- Home staging is worth considering for a vacant property sale.
A Major Renovation Before Selling Is Generally Unnecessary
When considering a sale, some people want to freshen up the home before listing it, but a major renovation is generally considered unnecessary. That's because the cost of the work can't necessarily be added straight on top of the sale price. This tendency is especially pronounced for larger jobs, such as replacing fixtures or re-doing interior finishes. On the other hand, improving the first impression through cleaning and decluttering is considered a highly cost-effective step. If you're unsure how much work to put in, consulting your agent first tends to keep you from spending on things that won't pay off.
Why a Renovation Is Considered Unnecessary
One reason a major renovation is considered unnecessary comes down to how buyers think. Buyers aren't necessarily looking for an already-renovated property — many prefer a price that assumes they'll renovate it to their own taste after buying. That makes it hard for a seller to pass renovation costs on to the price. Even for an older property, price adjustment tends to be the more common approach compared with renovating.
Cases Where It's Worth Considering an Exception
That said, not all renovation is unnecessary. If there's a broken water heater or plumbing fixture, or a roof leak, it's worth fixing. It's also worth considering a partial repair for anything that would severely detract from the impression during viewings.
The Most Cost-Effective Steps Are Cleaning and Decluttering
Cleaning and decluttering are more cost-effective than a large-scale renovation. Professional cleaning of water areas, addressing odor, brightening the lighting, and reducing clutter to make the space look larger can all improve the first impression during viewings for relatively little cost. Because the first impression also affects price negotiations, these are worth prioritizing.
Home Staging as an Option
For a vacant property sale, home staging — furnishing and decorating the interior — is one option worth considering. Adding tasteful touches to an otherwise bare space can help prospective buyers picture themselves living there. Since furnishing costs money, it's worth weighing the property's price range and expected time on market before deciding to use it.
When You're Unsure What to Do
If you're unsure whether to renovate or repair something, we'd recommend consulting your agent before touching anything. In most cases, disclosing the current condition as-is and reflecting it in the price turns out to be the more rational choice than fixing things up before listing.
Frequently Asked Questions
Will renovating before selling get me a higher price?
In most cases, the price doesn't rise by nearly as much as the cost of the work. A major renovation is generally unnecessary, and the safe approach is to consult your agent before fixing anything up.
Should I get a professional house cleaning done?
It's a highly cost-effective step. Water areas, odor, and brightness in particular have a major influence on the first impression during a viewing.
What should I do if a fixture or appliance is broken?
Decide, in consultation with your agent, whether to repair a fault or defect or to disclose the current condition accurately and reflect it in the price. Hiding it is the riskiest option of all.
Summary
A major renovation before selling is generally considered unnecessary, and it's more rational to prioritize cost-effective steps like cleaning and decluttering instead. If a fixture is broken or you're unsure what to do, it's worth consulting your agent before fixing anything up on your own.