Home renovations are one way to make your house more appealing to buyers in your area. However, it's important that home sellers choose renovations carefully to maximize their margins on the sale.
Let's take a look at how renovations help you sell your house and how long the entire process takes.
Should I Renovate My House Before Selling?
Before we find out how long renovating your house will take before a sale, let's first figure out if you need one in the first place. Renovations and remodeling take a lot of work and don't always add value to your house.
The first thing you need to do is understand the local real estate market. Homes tend to sell quickly in seller's markets even if they don't offer everything buyers are looking for. In a buyer's market, on the other hand, you will have to make sure your house and the asking price are appealing to prospective buyers.
You can find out whether you're in a seller's or buyer's market by looking at home sales volumes and available inventory. Since tracking these metrics can be hard as a layman, hiring a real estate agent can help you understand where the market is. If there is a high degree of competition among sellers in your city, then you may need to renovate your house to sweeten the pot for buyers.
Another important factor to take into consideration is your budget and the ROI of the renovations you're making. It doesn't make sense to stretch yourself thin financially to make renovations that won't let you up your asking price. Once again, consulting a local real estate agent can help you decide whether the renovations you're considering are impactful.
How Long it Takes to Renovate a House
Renovating a house is a major undertaking. You will have to get used to contractors walking around your house and the noise and debris that comes with making major changes to the property.
Some homeowners don't want to deal with that, so they choose to renovate the house themselves. But your best option is to hire a contractor to renovate your house. This will ensure a certain standard of quality and speed if you choose the right contractors and subcontractors. It also gives you another person to bounce ideas off of and guide the decisions you make during the renovation.
The amount of time the renovation takes overall will depend on the scale of the project and the crew doing the job. It usually takes around one to three months to renovate a house in preparation for a sale. The timeline can vary significantly based on how many rooms you renovate and to what extent.
If all you're doing is refinishing floors, it will take you about two weeks in total. You will have to move a lot of furniture around and possibly mitigate toxic fumes, but it won't take a lot more than about half a month.
A full kitchen renovation, on the other hand, can go on for as long as three months. The kitchen is an important room in the house and it takes time to install new countertops, replace the cabinets, and put in new type flooring.
Which Renovations Will Help Me Sell My House?
It's clear that renovating a house takes a lot of time and money. It can also disrupt your life and force you to move into a different bedroom or another house altogether. You have to ensure that all that work pays off when you put your house up for sale after the renovations.
The most common renovations that are made prior to selling a house are the kitchen and the bathroom in the master bedroom. The main aim when renovating a kitchen is to make it appear roomier. This is usually done either by removing a wall or cabinets that don't really need to be there.
Renovating a bathroom takes only about three weeks, whereas renovating a bedroom can sometimes take more than a month.
Another renovation you can consider before selling your house is energy-saving appliances. More savvy buyers will be impressed if your house has things like energy-efficient windows and solar panels. It's easy for buyers to see the value of such renovations since they know exactly how much they'll be saving each year through them.
The last thing you want to do while selling your house is making a lot of costly renovations that don't help you sell your house faster or for more money. The best way to avoid this scenario is by hiring a real estate agent who knows which upgrades will lead to a higher sale price.
Clever Partner Agents have a deep understanding of their local real estate market, which means they know what buyers are looking for. Working with a Partner Agent can help you determine what the most high-impact renovations for your house are.
You can hire a Clever Partner Agent to sell your house for just a 1% commission as opposed to the standard 3%. That leads to savings worth $10,000 on a house priced at $500,000. That is money you can spend on renovations and make more selling your house.
Contact Clever to find a Partner Agent in your city who can guide your renovation decisions and sell your house for top dollar.