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Sell now or renovate first? Tips from a real estate agent

It can be difficult to know when to sell and when to renovate. There’s a lot to consider, including your budget, the current state of the market and what work needs to be done to prepare your home. But don’t worry, we’re here to assist you. Check out our real estate agents’ tips below on when it might make sense to sell now or renovate first.


If you’re planning on selling in the near future…


If you plan to sell your home in the next few years, it may not be worth it to invest in extensive renovations. Instead, concentrate on small projects that will help improve the curb appeal of your home and make it more appealing to potential buyers. Painting the exterior, power washing the siding and deck, planting flowers or shrubs and adding new hardware to doors and cabinets are all simple (and relatively inexpensive) things you can do.

If you’re not planning on selling anytime soon…


If you do not intend to sell your home in the near future, you may have more leeway in deciding whether to renovate or sell. If your home requires extensive repairs or updates, it may make more sense to sell now and use the proceeds to purchase a new home that better meets your needs. If your home only requires cosmetic updates, you may want to consider renovating first. This can help to increase the value of your home and make it more enjoyable to live in for you and your family.


How is the market looking?


The current market conditions can also help you decide whether to renovate or sell your home. If the market is strong and housing prices are rising, now could be a good time to sell to maximise your profits. If the market is weak or stagnant, you may want to hold off on selling and instead focus on making improvements to your home that will make it more appealing to buyers when the market eventually recovers.


What work should be done?


If your house has seen a lot of wear and tear over the years, it might be time for some major renovations. If your home is newer or in good condition, you may only need to make cosmetic changes such as painting, installing new carpeting or updating the kitchen or bathrooms. Making a list of the tasks to be completed can assist you in prioritising your projects and budgeting for them accordingly. Once you’ve devised a strategy, you can begin tackling the renovations one by one until your home looks its best.


What are your future goals?


Ultimately it comes down to what is foreseeable in the future; will you be looking to upsize or downsize? What factors are influencing this intention to sell? It’s best to speak with a real estate agent in your area to get an estimate of what your home is currently worth and what it could be worth in the future if certain improvements are made.


JKC Real Estate is dedicated to the people and properties of Adelaide. From the foothills and Eastern suburbs to the Bay and everywhere in between, our premier Glenelg real estate agency provides superior residential property services to the Adelaide community. If you are considering selling or buying a home in Adelaide, we would be delighted to assist you. Contact our team at (08) 8350

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