Should I renovate my home before I sell in the East Bay? Will I get that money back?
Renovate or not, is it worth it?
To renovate or not to renovate before you sell your home? Are you trying to figure out if you should do something to your house before you put it onto the market? Is it worth it? Will you get the money back out when you go to sell it?
Right now, inventory is far below demand. A healthy and even market is about six months of supply and in fact, the market time and the East Bay is down to 21 days on average. Market data can help you make that decision. Focus on the return on investment of your money with any improvements and or fixes. Some homes need an entire kitchen or maybe even a bathroom, a new roof or other major work, but rarely does it make sense to do all of these projects. So, having a professional realtor guide you is the key.
Last, how will you pay for these renovations? Renovations can be expensive? They can run anywhere from $10,000 to $100,000 depending upon what needs to be done and the level of finishes. So where will this money actually come from? Did you know that you're able to actually use the equity in your home to invest in these renovations before you sell your home? Where else can you put $10K and get 20, 30, sometimes even $40K out? And if you don't need to pay the 10K upfront, it's even better.
Bottom line is that it's a strong seller's market out there. If you're considering selling and wondering what renovations make sense, and maybe you need help paying for it upfront, Please reach out below.