Renovate then sell?

At this time of the year, many real estate agents are finding that some home owners would rather stay put in their homes and renovate than try and sell in the struggling market.

For those who choose to renovate, it’s important they are aware of the value of their property and know that any major structural renovations will not have an immediate effect on the property’s value but will add to it over the next 10 years or so.

It is common for home owners to be hesitant about selling in a dull market; however there will always be people out there who need to sell or need to buy and as real estate professionals, it’s our job to inform home owners of all the alternative options.

When giving advice to home owners, it’s important to remember that many other factors come into the decision of selling up and moving on.

While some may believe the rational thing to do in a tight market is to hang onto what they’ve got, others will see the benefit of selling up and moving to a property that better suits their lifestyle.

Although home owners might be afraid of not getting the maximum amount they could in a good market, they should also remember that the market could swing in their favour when buying their next property; however if they wait too long for the market to pick up again, upgrading to a bigger house or different neighbourhood might not be achieved as easily.

By talking through the different options for home owners in a clear and transparent way, they’ll be able to make the best decision for their situation and will appreciate the unique Realmark approach to real estate.

It’s always important to remember that what might be the best solution for one client, won’t necessarily be the best solution for the next.