Most Spring 2019 Buyers Are Looking for Homes in Need of Renovation
Are you worried about updating your home before you put in on the market? With all the beautiful home renovations we see on TV and Pinterest today, sellers may sometimes feel the need to modernize their home to be competitive in today's market. But recent data shows otherwise. In fact, new realtor.com® studies show that as many as 60% of buyers this spring are considering homes that need renovations; of these buyers, more than half are willing to spend as much as $20,000 on remodeling.
"The combination of rising home prices and limited entry-level homes for sale is prompting many home shoppers to consider homes that need renovating," says Danielle Hale, realtor.com®'s chief economist. But even though it's the rising market that's pushing more and more buyers to make this choice, almost none of them are doing so grudgingly - the survey revealed that 95% of the buyers who are considering a home in need of renovations are optimistic about a getting positive return on their investment.
So before you start shopping for paint or new appliances to make your for-sale home more attractive, consider consulting with a professional to find out whether you need to do anything at all. Chances are, a couple of minor tweaks may be enough to do the trick.
We always recommend talking to an agent when you are considering putting your home on the market. Our professionals will give you experienced, local advice on what to do, and what not to do, to have your home sell at it's maximum. Whether it's staging or renovations, you want your home sale to be in the right hands. For a professional consulation and free market analysis, contact our agents here!