With the fall season upon us, change is in the air. For many families, children are growing up and moving out of the house, maybe leaving for college or taking a jump into the working world. Parents are finding themselves as empty nesters for the first
time. The question inevitably arises: is it finally time to downsize?
If you’re pondering that thought, you may also be wondering if you should fix-up your house before you sell it, or go straight to the market as-is, allowing a potential buyer to do the updates and remodeling. I get asked this question all the time.
In our current greater-Boston real estate climate I'm often in favor of going straight to market, but here are a few tips to help you decide which way to go.
1. Analyze Your Market
Il can help you to understand our market and the potential level of buyer interest and demand for your home. Right now we're holding in
a seller's market, which means demand for your home is high -- even if it needs some fixing-up. Get in touch and set up a free consultation and I'm happy to give you some insight on what you can change
, and how to declutter
your house to make it attractive to the typical
2. Get an Inspector
Right now, the average length of time a family stays in a home is between 9-10 years. That’s a little longer than the historical average
, so if you’ve been living in your home for a while, it might be time to make some significant improvements. Think: electrical system, HVAC units, roof, siding, etc. An inspector can give
you a better idea of the condition of your home, if it is up to current code standards, and recommendations on how to have your house ready before you put it on the market.
3. Decide If You Need to Remodel
You may also be thinking about driving buyer appeal with something like a kitchen or a bathroom remodel. If so, first dig into
the market value of your home, and compare it to the actual cost of the remodel. A local real estate professional can help you determine your home’s market value, and you’ll want to get a few quotes from contractors on the potential remodel pricing as
well. Once you have those two factors narrowed down, you can to decide if a remodel will give you a return on your investment when you sell. Oftentimes, it is actually more advantageous to price your house to sell
, list it competitively,
and then let the buyer pick the colors they want for their bathroom tiles and the type of countertop they prefer. The 2019 Cost vs. Value Report
in Remodeling Magazine
compares the average
cost for remodeling projects with the value those projects typically retain at resale.
Inventory is low, meaning there is less than the 6-month housing supply needed for a normal market. This drives buyer demand, creating a perfect time to sell
. If you’re considering selling your house, let’s get together to help you confidently determine what will be the best choice for you and your family.