Health & Fitness
Should You Renovate Or Should You Sell
Signs of a seller's market may have you considering listing your home or sprucing it up. What is the best decision for you?
Many homeowners have been on the fence when it comes to selling their homes. Yes, home prices have dropped from years ago but the market is in a rebound and believe it or not, many areas are beginning to see the transition into a seller's market. According to absorption rates, Media Boro, Middletown, Upper Providence, and Swarthmore are all hot areas for sellers. What does this mean? It takes an average of less than four months to sell a home listed in these areas.
So the question is, how do you know if it's the right time to sell your home or renovate to make the home work for you longer? If you're living in a area that's becoming a hot buy you may want to consider getting your home on the market so you cash in and take advantage of the low interest rates and great prices you can find in a new home. If you're not quite ready to move and want to invest a little more in your home there are renovations you can do to add value to your home while making it a more pleasant place to live.
Minor Kitchen Remodel: Average cost is about $18,000 and it can add close to $14,000 of value in your home.
Find out what's happening in Mediawith free, real-time updates from Patch.
Siding Replacement: Average cost is about $13,000 and it can add about $10,000 of value in your home.
Deck Addition: Average cost is $9,000 and it should add around $7,000 in value.
Find out what's happening in Mediawith free, real-time updates from Patch.
Entry Door Replacement: Average cost is just over $1,000 and it will add just under that cost in value to your home.
Obviously there are many other renovations you can do to add value to your home but you should always consider the value the renovation will add to your enjoyment of the home if you're considering staying there longer. If you do plan on selling, be aware of your neighborhood and what similar homes are selling for. Will your renovation make a difference to buyers? If it doesn't, you may want to reconsider taking on a project. And of course, to get an idea of what your home can sell for, you can always give me a call and I, as your Realtor®, can create a comparative market analysis of your home.
Like my tips? You'll love what I can do as your Realtor®. Don't forget, if you or someone you know is planning on buying or selling a home, give me a call and I'll make your home ownership dreams come true.
Kristy O'Connor
Realtor®
Weichert, Realtors - Media
606 E. Baltimore Pike, Media, PA
267.243.6434
KristyLOConnor@gmail.com
