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Selling the house as it is or remodelling first?
Many people have a central question when it comes to selling their property. Should they sell the house as it is or remodelling it first? Come and find out your options so you can make the best decision.
When the time comes to sell a house, the owner usually has some expectations about the price to be paid for it. The desire is almost always the same: to achieve a quick, worry-free sale that results in the best possible financial return.
The valuation of a property, however, has several points to analyse. In addition to the importance of market conditions at the time of sale, other aspects such as the type of property, the location and, of course, the actual condition of the home are also important.
Often, for an effective and successful sale, the property's valuation can be important, and there are some remodelling works that can guarantee better deals. The whole process therefore involves some consideration of the improvements that can be made, the actual costs of this type of remodelling and how it will - or will not - become profitable by adding value to the property.
There are, in fact, many aspects to consider when deciding how to sell the house and what the advantages and disadvantages of remodelling are. With this in mind, many people continue to question whether they should sell their house as it is or whether they should refurbish it first. Find out which is the best option for you.
Advantages of selling the property as it is
Selling a property is always an important decision and one that will take some time to make. For many homeowners, realising the state of the house (or some of its rooms) can make them question whether it's worth selling the property as it is.
There are always advantages and disadvantages to selling an unrefurbished property but, depending on your objectives with the sale, selling the property as it is can be advantageous.
Selling the property without prior remodelling will, of course, be a more viable option for those who, for whatever reason - such as the intention to leave the country, the need for the proceeds from the sale or simply the desire to get rid of the property - create a sense of urgency in selling the home.
In fact, remodelling work can take some time, delaying the sale process a little, which may begin but is unlikely to take place until it has been completed.
What's more, this type of work requires an investment on the part of the owner and, even if this amount will be compensated or even exceeded at the time of sale - as the work will increase the value of the property - not everyone will have the economic fluidity to afford this type of expenditure.
Advantages of remodelling before putting up for sale
Houses for sale often have areas for improvement. Betting on remodelling can guarantee a great increase in the property's value, but even so, many homeowners question whether this option is truly profitable.
When a house for sale has been lived in and used, it's natural that remodelling work - even if expensive - can increase the property's value. Small refurbishments, such as modernising kitchens and bathrooms; deep cleaning damp patches; or even plugging holes in pictures or mirrors and painting the walls can help give the house a new face and make it more appealing.
If you have the money to invest in these works, you will most likely see a significant profit when the property is valued, improving its position on the market.
What's more, a remodelled house automatically gains new positive arguments at the time of sale, conveying a positive image of the property and its state of repair. This makes it easier for the consultant you're working with to find the ideal buyer.
Remodelled houses also generally generate greater interest among those looking for a house to buy, since many people prefer to buy a house ready to move into rather than a property in which they still have to make an investment. With better conditions and a cleaner, tidier and more modern appearance, remodelled properties thus become more profitable, easier to present to interested parties, more appealing and therefore better for all concerned.
When it comes to selling your home, the support of the best partners, such as Engel & Völkers, can be essential to making the right decision. Listening to the advice of real estate experts with a wealth of experience who understand your intentions when selling the property in a personalised way can be crucial when deciding whether to sell the house as it is or invest in refurbishment work.
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Engel & Völkers Portugal
Av. da Liberdade 196, 7 andar
1250-096 Lisboa, Portugal
Tel: +351 210 200 490