To Renovate or Not to Renovate Before You Sell
When deciding to sell here in California, some homeowners feel they need to get their houses ready to make it more appealing to Home Buyers. Before deciding on this choice, here’s a few things to keep in mind:
- There is a shortage of homes right now. In a “normal” market there would be a 6-month supply of homes available for sale. Presently, there is only a 1.9-month supply. As a result, competition is stiff and Sellers are receiving multiple offers. Many Buyers are more willing to take on home improvements themselves to get the home they’re after. In this market, it may be wise to let future Homeowners remodel the bathroom or the kitchen to make design decisions that are best for their specific taste and lifestyle.
- Focus on getting a good return on your investment. Make sure that any bigger project you are planning to tackle will give you the return on your investment you are seeking, and that those projects are worth the cost. Consulting a real estate professional before you renovate is a good idea especially in this busy real estate market. You may find that putting you house up for sale as-is, will still sell quickly and result in a good return.
All over the country, but especially in California, we are in a strong seller’s market. So many of the popular California counties, including Sonoma, Marin, Monterey, Santa Clara, San Mateo and even Southern CA counties, are seeing more and more homes slowing coming onto the market – and selling fast!
So, maybe the best course of action is not a reasonable renovation project but instead putting it on the market for the many Home Buyers waiting to buy! But, if you do need fast funding to get a renovation job done quickly in order to cash in on this market, give Sun Pacific Mortgage a call at 707-523-2099. We are a private mortgage funding company who can often get your funding done in as little as a week.
The content of this blog contains general advice only and does not consider individual financial circumstances, desired loan amounts or existing real estate or lending transactions. This information is intended for licensed Real Estate Agents and licensed Lenders/Mortgage Brokers and is posted on our company website and specific blog sites with the express purpose of reaching such licensed individuals.