A frequently discussed topic between sellers and brokers is what a seller should do to a home prior to listing it for sale.  “Should we paint? Should we replace the carpet? Should we finish that list we’ve been working on for years, but never got to it?”  Yes, is the short answer to all of those questions,…if you want the house to sell for the most money and in the shortest amount of time.  But, is taking the time and going to all that expense in the best interest of the seller?  Maybe so, or maybe not, it’s not a one-size-fits- all solution, even though many brokers routinely pressure sellers to make big renovations before they will list a property for sale.

Fixing the brakes on a car does not make it worth more, but adding a paint job might.  Similarly, fixing roof leaks won’t add value to a home even though those are needed repairs.  Curing deficits of deferred maintenance such as broken or inoperable structure or systems should almost always be completed prior to a sale simply because those functions are what make it a house.  The question above really relates to whether a seller gets every dollar back (or more) by making certain cosmetic or functional renovations and whether that exercise is worth the time and money.  When you go to a used car lot you don’t expect to be purchasing a brand new car, and that analogy similarly transfers to the expectations a buyer has for a used home. 

But, first impressions do matter!  If a home is in tip-top condition it is easier to sell and easier to get top dollar.  Marketing photography always highlights the best features of a home and when the home is well cared for that makes a big first impression on potential buyers.  Stating the obvious in listing remarks, (such as “seller will allow discount for carpet allowance”) never has the same effect as the look and smell of new carpet, no matter how large the discount. 

Staging a new or vacant home is one way to make a great first impression, but there are pros and cons.  Some brokers claim well staged homes sell faster and for a higher price because it highlights the best features and creates an inviting atmosphere.  But the cost for staging can be expensive and the process cumbersome.  Sellers should evaluate staging or renovation strategies based on a cost vs value approach and make decisions accordingly.