Myth #1. Buyers would rather remodel after they buy

Myth:
This myth has been created by all the home improvement shows like “Fixer Upper” and “Property Brothers”. I love watching those shows too but things on TV are not necessarily the ways things work in the real world. Contrary to the popular belief that homebuyers prefer purchasing fixer-uppers to customize them to their liking, the reality paints a different picture. A majority of buyers struggle to visualize the potential of an unfinished space. Consequently, homes that are already well-presented and finished are more attractive to the majority of purchasers.

Truth:
In reality, most homebuyers seek a hassle-free experience. The dual challenge of purchasing a home and then embarking on a potentially stressful remodeling process — with all its inconveniences — is far from appealing. Many buyers gravitate towards homes that already exude a sense of warmth and comfort, even if some of their “dream” features are amiss. The allure of immediate livability often outweighs the desire for customization, and many are willing to invest more for a home that’s move-in ready.

Myth #2. Takes Too Much Time

Myth:
A commonly held belief among sellers is that the process of remodeling a home for sale is too time-consuming and cumbersome. This myth propagates the idea that it’s more efficient and lucrative to quickly list the home as-is, bypassing any renovation efforts, in order to expedite the selling process.

Truth:
The fact is that leveraging a seasoned real estate team, equipped with ready-to-go contractors and a proficient project manager, can streamline the remodeling process significantly. Such teams excel in making accurate time estimations and are committed to adhering to a predetermined completion date. Additionally, they possess in-depth knowledge of the real estate market’s rhythms. This enables them to strategically adjust project timelines, ensuring that the house is listed during peak selling periods when properties often command higher prices.

Myth #3. It’s not worth the cost to remodel

Myth:
A pervasive sentiment among homeowners is that remodeling prior to selling is not financially judicious. This stems from the fear that the costs of renovation will not be recouped in the sale price, leading to a diminished return on investment and potential financial losses.

Truth:
It’s a misconception to believe that all remodeling efforts won’t yield a positive return on investment. The key lies in targeted renovations: focusing on areas of the home that buyers genuinely value. When homeowners prioritize updates in spaces that buyers consistently demonstrate a willingness to pay a premium for, the return on investment can be substantial. The most informed guidance on which areas to focus on comes from seasoned real estate teams. With their extensive experience working with myriad buyers, they have a keen understanding of which home features are truly coveted and which ones can be sidelined.

The Benefits

Higher Selling Price:
Strategic remodeling enhances a property’s appeal, increasing its market value. Modernized spaces attract buyers, leading to higher offers and a more profitable sale.

Shorter Time on Market
Homes that have been updated and refreshed tend to attract buyers more quickly, resulting in fewer days on the market. A property that aligns with buyer preferences often experiences accelerated sales, minimizing the wait for sellers. Remember time is money!

Less Problems During Escrow
Remodeled homes often face fewer inspection issues, ensuring a smoother escrow process. Addressing potential issues beforehand reduces buyer renegotiations and delays, facilitating a faster and more straightforward transaction.

You Gain Experience
Understanding the process for a remodeling project equips homeowners with practical insights into property enhancement. This firsthand experience can pave the way for potential ventures in property flipping or confidently embarking on future home renovations.