Refresh, renovate or sell as-is? A seller’s guide to adding value that counts

 

SUMMARY:

Want to get your home market-ready? From quick cosmetic refreshes to full-scale renovations, we break down how to map your goals, understand your buyer, and decide which approach will deliver the best outcome.

You’re thinking of selling your home, you’re convinced the floors are in dire need of recarpeting, but your partner is adamant the next owners will want to add their own touches anyway. Whether it’s flooring, interior paint, kitchen cabinetry, or a tired ensuite, the “worth it or a waste of money” debate never fails to divide households. While a knowledgeable local real estate agent’s feedback specific to your home is absolutely priceless, we’ve rounded up our best common-sense advice around whether you should refresh, renovate or sell your home as is.

Map out your goals

Before lifting a paintbrush or flicking through décor magazines, take a moment to clearly map out your goals for selling and an ideal timeline. For example, are you aiming for the absolute highest price, or is a fast, low-stress sale the priority? Do you need to sell to make another purchase, or do you have the time and flexibility to wait for the right offer? If you’re clear on your home-selling goals upfront, decisions on budgets and timing (and what’s worth doing) will slot into place much more easily.

Understand local market conditions and your potential buyer

Are homes selling like hotcakes in your area? If so, potential buyers are likely to overlook your slightly haphazard paving out front, and won’t be inspecting your property with a fine-tooth comb. Are the main buyers of homes in your neighbourhood young families, working professionals or retirees? Different buyer categories value different home attributes, so take these into account when preparing for sale. For example, if your area is flooded with young family buyers, could you easily ensure your yard is fully fenced? Could you swap the high-maintenance garden for hedging better suited to working professionals?

 Evaluating your options

With clear goals in place, an understanding of market conditions and your potential buyer, it’s time to look at the three main approaches for prepping your home for sale:

 1. Refresh

Refreshing your home is all about bang for buck – these are small, affordable improvements that create impact, without requiring big budgets or months of construction.

2. Renovate

Getting underway with a pre-sale renovation is a much bigger undertaking. These are major improvements, like a kitchen or bathroom upgrade, or paving and landscaping. Renovating takes time and money, but it is ultimately intended to increase your property’s sale price.

3. Sell as-is

This one’s simple. Sit back, relax and let the buyers come!

The ins and outs of a home refresh

In many cases, a quick refresh is all your home needs to have it shining for open homes. Here are some of the main tasks you might want to tackle:

• The power of paint
  New home smell aside, a fresh coat of paint in neutral tones will instantly brighten and modernise spaces, and create a home with broad appeal. You can even paint over dark, outdated wallpaper, provided it’s in good condition.
• Take it outside

We’ve said it before, first impressions count, so make sure your front gate, letterbox and entryway wow buyers from the get-go. Give your outdoor living space a glow-up, too, whether that’s with soft furnishings, festoon lights, or cleverly placed outdoor furniture.

• Spring clean whatever the season
  Some buyers are weird; they’ll peer behind couches and into long forgotten nooks, and of course, many will open every cupboard that exists in your home. A deep clean (yes, where you move the couches and clear spilled cereal from the shelf) and a full decluttering operation are in order. The end result? A home that looks larger, fresher, and more inviting.
• Simple fixture upgrades
  These are the finishing touches or the cheap-and-cheerful changeouts that can make a big difference. Things like lighting upgrades, which modernise and brighten your home, swapping old-fashioned interior door handles for something more modern, or substituting the ancient vanity mirror with a more contemporary replacement.
• Do the ‘to-do’ list
  You know those little jobs you’ve been meaning to do for so long that you don’t even notice them anymore? The gate latch that needs screwing in properly, the dent in the wall from when you dropped the fry pan – those. Do them now. It’ll show buyers the property is well cared for and remove those annoying niggles.
• Styling or staging – it’s worth it

Once you’ve deep-cleaned and decluttered, DIY styling or professional staging is the absolute cherry on top. It helps buyers imagine their lives in your home, and a good stylist knows exactly how to showcase your abode’s best features (and distract the eye from any not-so-great ones).

Renovation considerations

While major renovations can increase your home’s value and saleability, it’s absolutely crucial to view them through a critical lens. Material and labour costs are currently at an eye-watering high, and you’ve also got to factor in the time it will take to complete. Here’s what to think about:

• Return on investment

First and foremost, a potential renovation must increase the likely sale price by enough to justify the expense, time, and effort you put in. Make sure you account for budget and timeline blowouts too, as these are very real threats.

• Buyer expectations

Refer back to your understanding of the local market conditions, and to your potential buyer: are they expecting a fully renovated, move-in-ready home, or are they looking to roll up their sleeves?

• Time, stress, disruption

Remember your goals? Are you prepared to have a revolving door of tradies and happy to endure living in a construction site to get top dollar for your home?

• Mates’ rates?

If you’ve got tradie mates that owe you a favour or know how to swing a hammer yourself, renovating while keeping costs down is a winning formula. Recent research shows many buyers are shying away from doer-uppers – due to current high construction costs – in favour of freshly renovated, move-in-ready homes.

• Expect the unexpected
  Significant renovations (particularly on older homes) often reveal unexpected issues that were best left buried. These often not only increase your costs, but also push out your timelines.

Ready, set, sell as is

Perhaps your home is already meticulously maintained and oozes charm on the daily, or the slightly derelict neighbour’s house just sold for a bomb without the buyer even setting a foot through the front door. Sometimes, selling your home as is makes sense. Here’s why you should be so lucky:

 The values in the land

Sitting pretty on a full block that’s recently been rezoned for high-density housing? Renovating or refreshing is probably unnecessary if property developers are your likely buyers.

• Time is of the essence!

Need to sell so you can buy your next home? Renovations are likely off the cards, but we’d still recommend a spring clean and declutter.

• Because market conditions said so

If buyer demand in your area is particularly strong, or your typical buyer is the type who wants to add their own touch, relax and welcome buyers with open arms and open homes.

 The best answer isn’t one size fits all

Renovating can be rewarding, or, equally, completely unnecessary. There’s no one-size-fits-all answer, as it’ll depend on your individual circumstances, your home, and your potential buyers. It all comes down to understanding your goals, understanding the market, and making informed decisions that align with these to the best of your ability. Having a trusted local expert by your side makes all the difference when it comes to these decisions. With service at the heart of everything we do, your local First National Real Estate team will confidently guide you every step of the way.

Ready to make your move? Call your local First National Real Estate team today.

 

Disclaimer

The following advice is of a general nature only and intended as a broad guide. The advice should not be regarded as legal, financial, or real estate advice. You should make your own inquiries and obtain independent professional advice tailored to your specific circumstances before making any legal, financial, or real estate decisions. Click here for full Terms of Use.