So, you think you want to renovate, and you think you should do it before you sell. You’re done with the nasty old bathroom and a large kitchen island has been on your wish list forever. But do you have the stamina and patience required?
If you want to do home renovations, bathrooms and kitchens are the most popular; for your personal use, that’s one thing, but if you’re doing it to enhance your resale, that’s another. The philosophy of doing renovations prior to putting your home on the market is one of those calculations that depends on who you talk to and on the existing real estate market.
Right now, housing inventory is at an historic low and sellers tend to feel they can sell anything, so why go through the expense and hassle of renovating? Some of that is true – in today’s market, everything will sell eventually, no matter what condition it’s in. The issue is, do you want to attract the most qualified buyers in the fastest time frame and get the most money?
Many buyers today want a turnkey home in move-in condition, and are willing to pay a premium for a property that’s ready to go; this is why new construction always sells. They want to avoid the headaches involved in the renovation process, especially if it’s a retirement home or a second home. With so many $1 million and over properties on Anna Maria Island, buyers for these properties are going to be picky, even in this market. They will focus on the smallest detail and will look for high-end finishes and sleek modern baths and kitchens. If you’re in a position to give them what they want, do it; you’ll get the best offers and come out ahead in the end.
Whether you’re renovating for personal use or resale, the process can be tedious, long and fraught with problems. This happens to be something I know about since I just completed a primary bath renovation, converting a dated jetted tub to a walk-in shower stall.
When you start a project, sometimes the thing you think is the easiest is actually the most complicated. My energy was spent picking out tile, vanity, showerheads, mirrors and ceiling fans. When it came to the plumbing and electric work involved, I didn’t have a clue about the process or the cost. Well, that was my first shock, which also involved several issues to iron out from day one.
Some of it was funny, listening to the vendor in before the last one complaining about how they did their job, but most of it was annoying. Be ready for anything from a shortage of tiles to cracked tiles that require removal and placement of a new one, light fixtures that didn’t fit because of a plumbing line we didn’t know about and a missing toilet. The final insult was when my microwave decided it had enough after less than five years; at this point, I had enough after only three months. The day of the cracked shower tile I said to my husband, this is the reason new construction and gut renovation properties sell at a premium; I think by then he understood.
Finally, everything took much longer than I expected. Every professional trade company is blow-out busy; it appears everyone is coming out of the pandemic with money in their bank accounts and a pent-up desire to renovate. Also, expect to wait up to two weeks for appointments with most vendors.
I’m done for now, and maybe forever. Just keep in mind why buyers, even in a tight market, want move-in ready and why it might be a good idea to do the work before selling, as painful as it is.
