Besides the choice between selling or renovating, there is also a third alternative that combines the two: pre-sale renovation Renovating your home before putting it up for sale on the market can be a great way to increase its market value and make it more attractive to potential buyers .
A renovated property is more likely to sell quickly than a comparably priced home requiring work. The need to carry out major renovations on the home is in fact a potential barrier to the appeal of certain buyers, who prefer to opt for a turnkey property.
Is it profitable?
If this third alternative seems to be the best option for your situation, you still need to carefully plan the renovations to be carried out to maximize their profitability . Because not all work has the same return on investment.
To help you better target the work to be done before selling your house, it may be a good idea to carry out a pre-sale inspection. of your property, carried out by a qualified building inspector. The report that this expert will give you will allow you to determine which improvements need to be made as a priority.
To know the potential return on investment of your work, it can also be useful to seek the advice of an approved assessor.
What makes a house most valuable?
Some improvements are more profitable than others. This is particularly the case of:
- The renovation of the bathroom ;
- The improvement of the kitchen ;
- The repair of the roofing .
Simply adding a fresh coat of paint can also be a good way to make your home look newer.
Conversely, landscaping, adding a solarium or a swimming pool are generally not recommended, since their return on invested capital is relatively low. This type of work has more of an amenity value, for the comfort of the occupants, rather than a real impact on the market value.
Finally, also consider improving the energy efficiency of your property, which can be a major asset for potential buyers who come to visit your home.