A question we get asked day in, day out. Certainly a question answered only by more questions!
To begin, it's important for us to note that recent research by Rightmove suggests that about 90% of home-buyers would consider a "fixer-upper", suggesting that even though your property may need renovation or updating, it will still have a great chance of selling without doing this yourself.
This research also reflects our day-to-day here at Avery with plenty of properties going to market that are in need of modernisation and generally tend to be the ones that generate the most interest.
So the big question; should you update the property before selling?
Well, this depends on many factors:
What is needed to fully renovate the property?
Will you do everything needed, or are you going to select a handful improvements?
Will the select improvements even significantly increase the market value?
Do you need planning permission or building regulation approval to carry out your planned improvements?
Will you be carrying out improvements yourself, or will you use contractors?
If using contractors, what are their availability?
Do you have the funds available to take on the project?
Do you have free time to manage the project?
Renovations aren't easy work, do you have the energy to take on the project?
What will be the estimated market value when you are done?
Will the increase in value cover your time, costs and effort?
If there is a significant increase in value, will the new price point reduce the number of potential buyers?
There are certainly more factors you will need to consider, but there's a start!
9 times out of 10, we would advise to take a property to market 'as is', with the exception of simple touch ups such as simple redecoration, a good tidy up, and a professional deep clean. These simple touch ups will have a great impact on the demand for your property without huge costs and effort tied to them.
With almost 35 years of selling thousands of property in all different conditions, we're confident we can give you some great advice on how to best prepare your property to market and secure the best possible price for you.
If you want to discuss your property, call 01934 614893 or email email@example.com to speak to our experienced staff for absolutely free advice, or visit www.valuation.averyea.co.uk to get an instant online valuation estimate for your property. You may be surprised!