What Sellers Need to Know About Renovating This Year

  • Dennis Hartley
  • 02/16/22

Those planning to sell their home in Redondo Beach this year are likely wondering what is needed – renovation-wise – to get a house ready that will appeal to the most buyers.

To begin, it’s crucial to work with a trusted real estate professional like Dennis Hartley, that knows the local market. There are a few key things that deserve consideration when deciding what to renovate and update before listing this season; note these points that ought to be top of mind.

The Number of Homes for Sale Is Very Low

Housing inventory sits far below what is normally considered a balanced market. In fact, according to the National Association of Realtors (NAR), the latest data indicates inventory is hitting an all-time low. Because there’s such a limited supply of homes available for sale, sellers are in a unique position; a newly listed home stands to benefit from multiple offers and a quick process.

These results only occur while buyers are still scooping homes up as fast as they’re being listed. Spending time and money on renovations before selling could mean missing the key window of opportunity. Of course, certain repairs may be important or even necessary. The best way to determine where to spend time and money is to work with an expert like Dennis Hartley, to confirm which improvements are truly needed and which ones aren’t likely to be deal-breakers for buyers.

Buyers May Be Willing To Take on Projects When They Purchase A Home

Today, many buyers are more willing to take on home improvement projects themselves to get the house they’re after, even if it means putting in a little extra work. A recent survey from Freddie Mac finds that:

“. . . nearly two-in-five potential homebuyers would consider purchasing a home requiring renovations.

If more buyers are willing to tackle repairs on their own, it may be wise to let the future homeowners remodel the bathroom or the kitchen to make design decisions that are best for their specific taste and lifestyle. Depending on the structural condition of a home, efforts may be better spent working on small cosmetic updates, like refreshing some paint and power washing the exterior to make sure the home stands out.

Instead of over-investing in upgrades that the buyer may change for themselves later on, working with an experienced agent like Dennis Hartley will best determine the key projects that will give the greatest return on investment.

Dennis Hartley, Expert Agent, Will Help Spotlight the Upgrades Already Made

Over the past year, many people made a significant number of updates to their homes. The most recent State of Home Spending report finds:

“Home improvement spending rose 25% year-over-year to $10,341. Homeowners who invested in home improvement did an average of 3.7 projects, up from 2.7 in 2020 . . .”

With more homeowners taking on more projects in the past 12 months, there’s a good chance updates to many homes will already appeal to buyers. If that’s the case, Dennis Hartley’s expert experience will find ways to highlight those upgrades in the home’s listing.

The same is true for any projects invested in moving forward. Before any renovation, contact Dennis Hartley for expert advice on what work needs to be done, and how to make it as appealing as possible to future buyers. Every home is different, so a conversation with your trusted agent is mission-critical, to make sure the right moves are strategized when selling this season.

In a sellers’ market like that which is going on at this hour, it’s important to spend time and money wisely when planning to move. Connect with Dennis Hartley today to effectively target your efforts before listing a home.

 

Photo by Thayran Melo on Unsplash

 

Work With Dennis

With over three decades of experience as a top ranked agent, he has the answer to any real estate question. He has helped nearly 1000 families buy or sell real estate. His emphasis on customer service has resulted in numerous sales awards and many satisfied clients.

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