Renovating to Sell: Common Missteps
Renovating a home to sell is a venture that can cost money. In fact, most things that have to do with making the home look great costs money. However, not everything possesses the same financial disaster like an enormous home renovation project gone wrong.
Knowing this, we will be looking at the most common missteps many homeowners make when renovating their home to sell. Let’s explore these further below.
Here Are Some Common Missteps in Home Renovation
Going with The Least Estimate
When hiring a contractor, one of the first steps you have to take is to get estimates from various contractors you have deemed reliable. However, the instant they offer you their quotes, it can be enticing to go with the least to save some funds. But, the truth is, most times, costs are low for a specific reason. You may be letting go of some vital services that are worth the additional home renovation costs.
To make a choice in regards to the right estimate, check the quotes for a number that shows up the most. Numbers that come up frequently are probably the actual cost. After determining this, do some additional research to select a contractor. You can do this by checking out their online reviews or reach out to other homeowners they have previously worked with. Lastly, if after all of your research, you are left with more than one top pick, choose a contractor you like best.
This can mean a lot of things. However, in many instances, it means going with inexpensive materials. Purchasing a window, fixture, or door of lower quality can help you save lots of costs. But in the long run, this may come back to cost you problems in terms of money and time.
Another common way may homeowners cut cost is choosing the service of a subcontractor or contractor without the appropriate license. Sure, it may seem like a good move at the start, but the trouble it could bring you, later on, is not worth it. In the end, you could end up saving all the cash you presumed you saved on numerous repairs.
DIY Without Any Experience
Renovating a home and kitchen, as we have covered earlier is quite expensive. For this reason, many homeowners try to cut cost by going DIY. This is not a bad route to take if you have the needed experience and skills. However, if you do not, and you are doing your renovations based on guesswork, then you could cost yourself lots of cash down the line.
Renovating a home has to do with understanding where your limitations lie. First, ask yourself the following questions:
- Have you handled a similar project before?
- Do you have the skills and experience to take on a project like this?
- Do you like physical jobs?
If you answered ‘no’ to any of the questions listed, it would be best to get the help of an expert.
Listing Your Renovated Home at A High Price
After investing lots of cash and time into renovating your home, it is understandable why you want to sell the home fast and make a profit for all your effort. However, many homeowners, after calculating their expenses, tend to list their homes for an excessively high price. If your home stays on the market for too long, people will start to think something is wrong with it and selling will become harder. In the end, you may lose cash because you can’t sell your home.
When trying to determine your listing price, do a comparison within your neighborhood or seek help from the professionals.
If you need to sell your home in Lancaster, reach out to The Jeremy Ganse Home Selling Team. Our professional agents can help you sell your newly renovated home the right way.