Should I Invest in My Outdated Home Before Selling it?

The answer to that varies, as there are few factors to take into consideration - let's dive in!

There are 3 variables you need to keep in mind while considering the potential resale value:

1. The location

2. Comparable sold similar properties recently sold

3. The market situation

Now, let’s talk about the Potential resale value:

There is a simple formula that includes the following:

1. Making a list of the needed repairs

2. Consulting with a contractor the cost of repairs.

3. Being conscious of the expenses

4. Investing minimum amount while reaching maximum profit.

Pay attention: even if you’ll only break even with the repairs, you have a higher potential to sell your house faster, compared to a situation where you decide to “save” on repairs and sell it “as is.”

The market has proven that when selling properties that don’t undergo repairs - have sold for less than properties that have!

If you are not sure where to begin, definitely consult with your broker, as they can direct you to the exact repairs you may need to make a successful profit.

We believe that in most cases you will get 2-3X for the investment in a seller’s market! In a buyer’s market, you will probably get back your investment with more interest, as well as a higher potential of selling your home faster. Just make sure that the cost of repairs or renovations will be worth the investment.

Decided not to invest? Whatever the reasons may be, we suggest at least decluttering and removing all personal items from your home and make some efforts to bring some “cleanliness” to the space, both indoors and outdoors.

In conclusion, according to our experience, the better the house looks - the better chances you have to sell it fast and with a greater profit.

For more tips, articles and insights, or a free consultation go to @homzzdesign