When it comes to selling your home, one big question many people ask is: should I renovate first? Nick Statman, a leading expert in property sales, often explains that there is no fixed answer. The decision depends on your home’s condition, your budget, and who your buyers might be. Renovations can help make your home more attractive, but they can also cost a lot of money. That’s why it’s essential to understand what matters before making changes.
Not All Renovations Are Worth It
Some repairs or upgrades might help you sell your home for more money. Others might not make much of a difference. If your home has serious issues like a leaking roof or subsidence, it may not be possible for buyers to get a mortgage. In that case, even if you’re not planning a complete renovation, you might have to fix major problems. Buyers often worry about considerable repair costs and hassle. If they see problems, they might lower their offer—or not buy the property at all. Nick Statman says it’s smart to fix these major issues first if you want the home to be mortgageable and appeal to more people.
Cosmetic Changes Make a Big Impact
When you have a lovely home, just some minor remodelling can give you a mile. Removal of peeling, repairing of loose tiles, and repainting of neutral colours can give your property a new face. Such minor modifications are not very expensive, yet they make the house more receptive. Something as easy as new taps in the kitchen or bathroom grout can be practical, too. Customers get interested in houses where they do not need to spend money immediately.
Think About the Type of Sale
There are two main ways to sell a property—through a private sale or at auction. Renovations matter more in a private sale because everyday buyers often want a home they can move into quickly. But at an auction, buyers are usually investors or developers. They often look for homes that need work, as they plan to renovate them themselves. That’s why Nicholas Stateman, who has years of experience with both types of sales, says you should think about your buyer before deciding whether to renovate.
Renovating for Higher Value
There are particular renovations that will improve the price of your house. These usually involve new kitchens and bathrooms or repairing damp or roofing issues. However, these upgrades cost a great deal. A simple kitchen could be £5000 and above. Even so, there is no assurance that customers will appreciate your style. This is why it is better to stick to the neutral and simple. If you do decide to renovate, do it with the next buyer in mind instead of personal preference.
Property without a Makeover
It is also fine to sell a house as a fixer. A lot of purchasers are interested in a project and do not mind doing renovation once they have bought the house. You may not earn the best price, but you will save both money and time selling as it is. This does not work with auctions, particularly because there are a number of bidders willing to purchase a home requiring repair. It is even possible that the price on the final sale exceeds your expectations as the buyers bid against each other’s.
Conclusion
In the end, the choice to renovate before selling depends on your situation. Think about your budget, the condition of your home, and the type of buyer you want to attract. Nick Statman often says that smart, minor updates can help you sell faster and at a better price, but significant work is not always necessary. Whether you choose to renovate or not, the best thing to do is speak with a trusted estate agent. They can give advice tailored to your home and your goals.