The real estate market is booming, and many potential home sellers are wondering if it might make sense to do some remodeling for sale purposes. The answer? Yes. A little sprucing up can go a long way with today’s buyers—and maximize your selling price.
A majority of San Francisco buyers are not looking to take on time-consuming renovations (particularly in the condo market). Many work long hours and simply don’t have the appetite to spend weekends and evenings interviewing contractors, working with an architect and picking out countertops and other finishes. Most of the properties that end up getting offers in the double digits are the ones that are move-in ready.
So what work should you consider doing for sale purposes? At the top of my list are tasteful kitchen/bath updates, refinishing worn floors, and replacing older appliances. Garden landscaping appeals to buyers, too. Don’t forget about exterior and interior painting; it’s also often a smart idea to replace outdated light fixtures. Keep the costs reasonable, and they won’t eat too far into your profits.
The best part is that if you’re working with a connected, can-do Realtor (like yours truly), he or she should be able to recommend what needs to be done, as well as pull together and supervise all the needed tradespeople.
Heads up: If you decide to do renovations that require permits, it’s in your best interest to get them. Trying to save time and money by skipping permits can come back to bite you in the end. Buyers are wary of unpermitted work for safety reasons (incorrect electrical wiring or plumbing behind the walls), and you can actually lose money in the end.
If you’ve done your job right, you’ll get a stream of buyers through your home—and plenty of offers.