Renovation before sale – What's worthwhile for sellers

Is your property far behind the latest standards? And has it been quite some time since the last renovations and refurbishments? When property owners decide to sell their property, they must also consider whether it's worth investing more money and effort in renovations and refurbishments. These could potentially affect the selling price.

Giving the walls a fresh coat of paint or replacing the wallpaper are cosmetic improvements. They can make your property appear more well-maintained and thus more appealing to potential buyers. These tasks are easy to do and not very expensive. Nevertheless, they can potentially lead to a higher selling price for your property.

To increase the selling price through renovations, these renovations generally also need to raise the property's standard. Often, it's outdated kitchens and bathrooms that make properties unattractive. For example, outdated heating systems should be replaced with underfloor heating or other energy-efficient systems. If energy-efficient renovations are carried out before selling, significant savings can be expected in the future. This applies to both new windows and improvements to roof insulation.

Property sellers are often unsure whether renovation and refurbishment measures will increase the property's value sufficiently to generate actual profits. Expert advice can be invaluable in this situation. A professional real estate agent, with years of experience, knows which renovation measures are worthwhile.

Whether final improvements to a property before the sale are worthwhile also depends on the overall demand. In regions with high demand, improvements can certainly pay off. For regions with significant population decline and low demand, it's generally not advisable to invest heavily in renovations before selling. A professional real estate agent is intimately familiar with the regional market and can expertly assess your individual situation.

Finally, there are always two different types of potential buyers. Some are looking for a property they can customize entirely to their own specifications. Others are looking for a property they can move into quickly without having to do much work beforehand. This latter group of buyers is generally much more common.

Would you like to know if renovation work on your property would be worthwhile to increase its selling price? Contact us! We'd be happy to advise you.

Legal notice: This article does not constitute tax or legal advice for any specific case. Please consult a lawyer and/or tax advisor to clarify the facts of your individual situation.

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