Should you renovate your Gold Coast Home to increase your sale price?
Should you renovate your Gold Coast home before selling? It’s the $10,000 to $100,000 question: your home looks neat and tidy, but the state of the kitchen, bathroom, or fences maybe let it down. So the big question is: Should you renovate, or should you leave the work so a buyer with some vision can do it themselves?
There’s a simple rule of thumb to help you make the decision.
If something isn't done right, or not finished, then this could potentially lead to buyers make significantly lower offers. An unfinished home is like cooking a cake without all the ingredients. A half-done kitchen or bathroom will likely deter most buyers
But then if the home is 90% untouched, then just leave it. Many buyers can see the potential in an older, original home and will often love a blank canvas that they can add their own touches to.
The big thing with renovations is not to over-capitalize. The best Gold Coast real estate agents, such as Joe Farr from your local Platinum Properties office, will often advise you on what an ideal spend would be to ensure a good return on your investment. It's important not to get carried away on renovations in your Gold Coast home. Try to match the level of the house when you’re deciding what to do.
If you have a $1 million property, then a renovation could cost you $10,000 or $100,000 but ideally, a 1% spend of the property value done wisely could bring you a 5-10%return.
So if you're in the process of getting ready to sell your Gold Coast home, just click to book a free appraisal & we'll give you some great ideas to help sell your home faster & for a better price with minimal renovation investment. Or call Joe Farr & The Platinum Team on (07) 5500 7000