You may have seen it on TV: getting down to work - pun intended - revalues the home to maximize profits when selling it. But this art is not for everyone.
To avoid a market full of overpriced apartments after a cheap renovation, we will have to identify when it is a good idea to carry out works to improve the valuation of a property before selling and when it is not. Real estate professionals have opinions on this matter.
Sources from Housfy, a comprehensive real estate and home services platform, emphasize that, a priori, reform may not be the smartest idea. And the result may be far from the buyer's taste and the qualities he prefers, and will limit the market of interested parties.
A comprehensive renovation, however, can increase the sale price by 50%, if the apartment shows serious signs of deterioration. The data, which the specialists consulted share with La Vanguardia, allude to unavoidable investments when the condition of the property prevents its release on the market.
Superficial modifications are, according to the same sources, highly advisable. The increase in the price of the property can reach, in this case, 28%, by fixing, for example, humidity or leaks, improving the energy certification or applying a coat of white paint that gives another light to the rooms.
And, above all, the owner must analyze the viability of the operation, calculating the increase in the value of the home after the renovation, something that today can easily be done with an online home appraisal simulator.
If you are not a professional in real estate flipping (an investment strategy focused on renovating homes for subsequent sale), only in specific cases will it be advisable to raise dust in an apartment that you will later get rid of.
If the home has been published for many months, for example, and it is not selling or has few interested parties, it may need a new advertisement, and a new face. Receiving lower offers also gives revealing information about the buyers' vision, who consider that the apartment is advertised at a price above its value, since they will have to dedicate part of their savings to fixing some aspects of the home.
The same if there is an excessive supply of properties for sale in the same area: a renovation will help you stand out from the competition. In that case the qualities and aesthetics can make the difference. Contacting an interior designer or an expert in the field before selling the home will ensure that any move will not be in vain.
