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Your Home Needs Work: The Condition of Home to Renovate

I help busy Maryland professionals maximize their returns on real estate sales with ease.
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Your Home Needs Work | Welcome back. Today I am continuing my series, “7 Reasons Why Homes Don’t Sell.” Today we are talking about the condition of your home.

If you want to sell your house for the full asking price that your home can command, then you have to present it in the best condition you can and in a similar way to the other houses that have sold for ‘top dollar’ in your neighborhood.

What does that look like? One way to get a better understanding is to go to the Open Houses in your neighborhood and see what your neighbors have done. Another is to have your Realtor pull your comps and look at the descriptions and photos to assess the level of their renovation.

What work should you do? Consult your Realtor and contractors for the jobs that provide the biggest return on investment and the jobs that must be done to reach certain price points. In one townhouse community in Silver Spring, the same 2-bedroom townhouse with a renovated kitchen will achieve around $25-30,000 more than the same layout with an unrenovated kitchen.

This area has enjoyed a hot, seller’s market for many years, but if the market slows and your neighborhood’s inventory increases, it will become even more important to focus on the condition of your home.

In my next video I will discuss some of the most common projects you should consider.