Should You Renovate Before Selling? Pros and Cons

You want to sell your home quickly and for the best price possible. And you may have heard that making renovations can help you do so. 

While preparing your property for sale (which can include making certain renovations) is wise, not all upgrades are worth the hassle or investment. Sometimes, leaving your property as-is is a better bet.

Make a sound decision about whether to renovate before selling by familiarizing yourself with the pros, cons, and other key considerations. You’ll determine what really needs to happen to get your home market-ready— investing time, money, and energy in the right renovations (if at all). 

Should you renovate? Ask your agent

Before weighing the pros and cons of renovating your property, check in with your agent. Real estate professionals are experts on what local buyers seek in properties and can guide you toward the right renovations.

Have the agent come by for a walkthrough and give their opinion on the state of the home. You may be surprised to learn that your house is almost market-ready and that after some light DIY work and staging, you’ll be ready to receive prospective buyers. Or you might find that your instincts about planned renovations were off for the market. You could have been eager to do an expensive kitchen remodel, when really, it’s wiser to focus on boosting curb appeal through exterior renovations.

The pros of renovating your home

The short answer to whether upgrading your property before sale is a good idea is generally “yes.” But this doesn’t mean you have to undertake major renovations. Lean on your agent for recommendations on how to get your home market-ready. Being able to attract buyers quickly is one of the main pros of renovation. Here are a few others that top the list. 

Renovations add value

Renovated homes sell for more—so long as the renovations signify a value boost. Stay away from expensive remodels that suit your tastes and instead think of how to provide a “blank slate” for a homebuyer: a problem-free property that’s clean, freshly painted, and updated (within reason). 

Among the highest value boosters are renovations like energy-efficient doors and windows, garage door replacements, and new siding. It’s worth researching which renovations pay off and talking with your real estate agent. A realtor has a good handle on local market conditions and can provide insights on what upgrades would be worth doing.  

You can save yourself from contingencies

Some buyers state contingencies—tasks they want a home seller to perform before finalizing the sale. For example, a buyer might ask you to get your property inspected, and this inspection could surface issues that demand repairs. The buyer can ask you to make those repairs or negotiate the price down on your home. 

But if you perform an inspection beforehand to determine what renovations and repairs your home needs, you can ensure the property hits the marketplace in the best possible state. This way, you won’t have to worry about dropping your property’s sale price for a buyer who cites your roof needs retiling or your exteriors need repainting. You’re already aware of the home’s main issues and can take care of them.

The cons of renovating your home

Even doing simple, budget-friendly renovation projects can improve the look and functionality of your home, so you may be eager to jump in. Prepare cautiously by making a sound renovation checklist, hiring reliable contractors, and considering the following potential drawbacks of modifying your property. 

You may not recoup your investment 

The trick to a successful pre-sale home renovation is doing high-ROI (return on investment) work. 

You could completely remodel your home, making it look new, but you’ll spend a small fortune doing so. And not all of the changes implied in a total remodel provide value for a buyer. A very specific or luxury kitchen remodel, for example, may not be a potential buyer’s taste and they could tear out your work. A closet converted into an extra bedroom might appear cramped instead of a value add. Putting in a pool could drive some buyers to a hard “no.” Check out a recent cost-versus-resale-value list to ensure that your intended renovations will pay off. 

Renovations can be a time-consuming hassle 

Renovations, especially major ones, can turn your home into a construction site, making your daily life pretty uncomfortable. You might even have to put your stuff in storage and live in a rental while work’s being performed. And renovations can go over budget and time if they’re overly ambitious—meaning that you’ll have to wait longer to put your home on the market. 

It’s wise to plan for worst-case scenarios like renovations that extend past deadlines or cost 10 to 20 percent more than you’d hoped. It’s also savvy to prioritize the highest impact work. For example, it’s likely a better idea to replace a broken garage door than it is to give a perfectly functional bathroom a makeover. 

Not renovating? Consider these touch-ups

If your home doesn’t need renovations or you opt not to do them, you can still make the property more market-ready with the following few tips. 

• Deep clean: Wipe away years of grime, focusing on surfaces, grout, closets, and cabinets. A tidy home is easier for a buyer to imagine themselves settling into than one that requires major cleaning before move-in day. 

• Stage: Staging—decorating your home to maximize appeal for buyers—can transform your spaces. Replace dated furniture with newer rented models and add inviting decor like candles, coffee table books, and new linens. And there’s a perk: anything you buy to stage with you can take and use in your next home.

• Boost curb appeal: Curb appeal is the impression the exterior of your home gives off. And you can achieve great appeal by landscaping, keeping outdoor spaces tidy, and touching up the paint on your front and garage doors. 

• Depersonalize: Potential buyers want to envision themselves in your home, and you can help them do so by removing personal items. Take down the majority of your family photos and box up your nostalgia. Leaving a few items behind is acceptable—some folks believe a couple of personal touches can make your home look more “real” and inviting.

Convinced by the pros of renovation? Finance upgrades with a CLoC

Perhaps you’re eager to perform renovations that could increase your home’s value. Maybe there’s an irking repair you must make before putting your property on the market. But if you don’t have the funds for home improvements, you might feel stuck. 

Partner with a Titus-affiliated agent and gain access to top-notch representation and a unique financing tool: a closing line of credit (CLoC). You can use this credit to cover renovations, a rental if you need to get out of your home’s construction site, and staging or cleaning items. Credits of up to $25,000 are interest-free. Learn how it works here.