SHOULD I RENOVATE BEFORE I SELL?

The answer depends on the condition of your property, the selling environment that you’re in when you decide to sell and your skill set. There’s a tipping point.

If it’s a “sellers market” and your property is in a reasonable to good condition, then you are in the best position because you will undoubtedly sell for a great price and won’t have to put any money or effort into a renovation. Buyers will be keen and not all that picky.

If your property is in a poor condition and the market is hot, it’s still not necessary to renovate - it likely won’t affect your outcome. What should be done is a lot of cleaning and de-cluttering. A fresh coat of white paint throughout also helps. If the window coverings are old or ripped/broken in any way, they should be removed.

This way, buyers will be able to see your property as a blank slate, a clean canvas for their belongings. If your property is somewhat dated, it is likely that they will have renovation plans of their own so there’s no point guessing what their tastes might be.

It is also worth noting that if your property is in a poor condition, buyers will appreciate being able to see exactly what they are up against, instead of having to guess what’s behind Door #3.

All of this changes if the market conditions aren’t so favourable for sellers. The pendulum swings.

In a “buyers market” it can be challenging to sell a property, even in a fair to good condition. The same things apply - always clean and de-clutter completely and add a fresh coat of paint if necessary. But in a buyers market, take it a step further. Get the gardens done and the edging. Carry out some serious maintenance - clean the gutters and downpipes, get the seals refreshed in all the wet areas.

If your property is in a poor condition in a “buyers market”, you will be better off with a minimalist renovation worth no more than $50,000. To achieve that, you’ll want to engage an interior designer who can help you by making economical choices, improving your floor plan and advising on colour palette.

Make sure any significant work you get done is by a licensed tradesperson. Trust the professionals!