
Should I Remodel My Home Before Selling? Debunking Myths
Many homeowners believe a real estate agent’s job is limited to handling showings and paperwork. When I emphasize the importance of enhancing a home’s appearance before selling, I often face objections. A few common myths frequently surface.
These myths usually stem from advice given by family and friends who might have considered updating their homes but found it wasn’t worth it. While that might have been true for them, my 19 years of experience and extensive portfolio of sales that exceeded sellers’ expectations tell a different story.
Before addressing these common myths, let’s look at some data from a survey by the California Association of Realtors:
72% of home buyers were searching for a better or larger home, and almost a quarter stopped looking because they couldn’t find a home better than their current one.
Consider this: most homeowners have lived in their homes for about 10 years. Over the years, the house becomes outdated. Lighting and plumbing fixtures are sporadically replaced and no longer match, and the landscaping deteriorates. The once “dream” home becomes boring. The owners don’t necessarily want a new house; they want something that feels new to them.
When you decide to sell your home after living in it for a decade, you may find it has become boring to you. The problem is that buyers will feel the same way—they’re essentially looking at their own current home.
When home shoppers see a property that presents better than their current home, they want it, even if it’s only slightly better and makes them feel like they’re upgrading their lifestyle. I often talk about First Choice Dominance, which is crucial for attracting buyers and selling your home faster and for more money.
On average, home shoppers see eight homes before making a purchase.
Buyers are bound by criteria such as price range, number of bedrooms, bathrooms, and square footage. At any given time, there are only a few homes for sale that meet their criteria, but there are many buyers. Your goal as a home seller is to present your home as the best option among that small group. Your home doesn’t need to be spectacularly better; it just needs to stand out at that moment compared to the other homes. My role as a real estate agent is to understand how other homes present themselves and then make the necessary updates to ensure your home stands out.
Myth #1: Buyers Prefer to Remodel After They Buy
Myth: This myth, popularized by home improvement shows like “Fixer Upper” and “Property Brothers,” suggests that homebuyers prefer purchasing fixer-uppers to customize them.
Truth: Most homebuyers seek a hassle-free experience. The dual challenge of purchasing a home and then embarking on a remodeling process is unappealing. Many buyers prefer homes that already exude warmth and comfort, even if some “dream” features are missing. The allure of immediate livability often outweighs the desire for customization, and many are willing to invest more for a move-in ready home. Most large remodel projects happen years after the purchase.
Myth #2: Remodeling Takes Too Much Time
Myth: Many sellers believe that remodeling a home for sale is too time-consuming and cumbersome. They think it’s more efficient and lucrative to quickly list the home as-is to expedite the selling process.
Truth: Leveraging a seasoned real estate team with ready-to-go contractors and a proficient project manager can streamline the remodeling process significantly. Such teams make accurate time estimations and adhere to predetermined completion dates. Their in-depth knowledge of the real estate market’s rhythms allows them to adjust project timelines strategically, ensuring the house is listed during peak selling periods when properties command higher prices.
Myth #3: Remodeling Isn’t Worth the Cost
Myth: Many homeowners fear that remodeling won’t yield a positive return on investment, leading to financial losses.
Truth: Targeted renovations can yield a substantial return on investment. The key is focusing on areas of the home that buyers genuinely value. Prioritizing updates in spaces that buyers are willing to pay a premium for can significantly enhance the home’s value. Seasoned real estate agents provide the most informed guidance on which areas to focus on, thanks to their extensive experience working with a myriad of buyers.
