One question sellers often ask is this- "Should I improve my home or sell it?"
That's a interesting question because sometimes sellers will say, "I think I'm going to wait until I put the garage door on, or the garage door opener in, or the new dishwasher in, or I'm going to put a new roof on and repaint the house."
Usually we would say that's great because we want the house to be parade-ready and priced right but this is not a normal market. This is a frenzy market. We are seeing 71% of listings sell in the first 30 days for 99-100% of list price. Which creates a dilemma, sellers who invest dollars back into their home may not necessarily get 100% of that money back.
For example, fixing a garage door is the number one item that you could do to a home to increase its salability. But even today, you're still not going to get 100% of that money back as an investment. Sellers on average are getting about 85% of their investment returned. A deck edition is the second most important thing a homeowner can do to improve value. Yet on average they still receive less than 80% of their money back. Even with a major kitchen remodel sellers only receive 60-65% of their money back.
So when you look at those numbers, what's the answer to "should I remodel or sell?'
The answer is you should sell and you should sell right now! Don't waste your money. Let the buyer make improvements after they purchase the home.
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