You’re putting your house on the market. But do you make all the updates that sellers are looking for, or do you discount your asking price? Frankly, both are an option, but it all comes down to your specific situation.
Update
Lots of people are looking for a move-in ready home. If you’re finding that buyers keep overlooking your home because you haven’t made some of the key updates they expect, you may want to bite the bullet and get it done. Some buyers look to avoid the extra time it would take for them to get estimates, taking time off or working with contractors.
Discount
Depending on the area you live in though, that may not be the case. If your home is in a super sought-after neighborhood, your home could sell quickly regardless of what updates it needs, because the location matters most to the buyers in that area. Some people also love that they get a blank slate to make their own decisions on colors and styles in their updates.
In-between
If you’re on the fence, consider getting estimates for the updates you need! If you can show buyers the approximate cost and a few options, but that you wanted them to have a say in the updates, it feels like you got it started for them and set them up for success. It’s a great middle ground if you’re not leaning a particular way.
Remember, utilize your real estate agent when making these decisions! Whether you update or offer a discounted listing price, it’s their job to know the neighborhood and what kind of buyers are looking there. They can offer valuable insights for you! We hope you found this helpful! And if you’re looking for a lender or have any questions, please reach out to us. We’d love to help!
Best,
Audrey
The Christian Mortgage Mom
