Scott Moize Jr.

First United Mortgage Group

  • Home
  • About
    • About Scott
    • Site Security
  • Resources
    • Calculators
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage FAQ
    • Mortgage Glossary
  • Testimonials
    • Client
    • Agent
  • Blog
  • Apply
  • Contact

Pros And Cons Of Completing Home Renovations Before Selling

July 3, 2020 by Scott Moize Jr.

Pros And Cons Of Completing Home Renovations Before Selling

Whether you originally bought a fixer-upper or you’re just a homeowner who wanted to update their house, chances are you have seen your share of home renovations. Home renovations have the potential to greatly add to the value of your property, but they can also add to your own quality of life. Hopefully, you have completed your home renovations and gotten plenty of use out of them before listing your home for sale. 
If not, you may find yourself wanted to move before all the renovations are complete. What’s the best course of action? Should you put the time and money in to finish? Or should you cut your losses and list the home for sale? What are the pros and cons of completing home renovations before selling?
Pro: The Home May Sell Easier
Your real estate agent will be happier if your home is fully renovated. That’s because they know that the home may sell easier in a fully renovated condition. Of course, you could get a prospective DIY homebuyer eager to put their own “stamp” on the home, but that is nothing you can count on.
Con: You May Not Recoup The Extra Expenses
Not all home renovations equate to value-added improvements that you can count in your wallet. If your renovations are small things like replacing door hinges, patching a hole in the plaster, or stripping outdated wallpaper, you are unlikely to see an equal increase in what you can get for your home sale.
Pro: There Will Be Less Explaining
If you have finished the renovation, you have nothing to explain and no excuses to make to anyone. In the renovated condition, the home is what it is. Even if a prospective home buyer does not happen to like the new paint color you have chosen, they still can?t complain that it is old or worn looking. 
Con: You Will Need To Delay Your Listing
Home renovations can take up a lot of time, as you may know, if you have done a lot of them already. You will have to delay listing your home, which in turn will mean putting your moving plans on hold for what could be an extra month or two. Depending on your future plans, this could impact your child’s school entry date and more.
No one will force you to complete half-finished renovations. But consider these pros and cons before deciding how to proceed.

Whether you originally bought a fixer-upper or you’re just a homeowner who wanted to update their house, chances are you have seen your share of home renovations. Home renovations have the potential to greatly add to the value of your property, but they can also add to your own quality of life.

Hopefully, you have completed your home renovations and gotten plenty of use out of them before listing your home for sale. 

If not, you may find yourself wanted to move before all the renovations are complete. What’s the best course of action?

Should you put the time and money in to finish? Or should you cut your losses and list the home for sale?

What are the pros and cons of completing home renovations before selling?

Pro: The Home May Sell Easier
Your real estate agent will be happier if your home is fully renovated. That’s because they know that the home may sell easier in a fully renovated condition. Of course, you could get a prospective DIY homebuyer eager to put their own “stamp” on the home, but that is nothing you can count on.

Con: You May Not Recoup The Extra Expenses
Not all home renovations equate to value-added improvements that you can count in your wallet. If your renovations are small things like replacing door hinges, patching a hole in the plaster, or stripping outdated wallpaper, you are unlikely to see an equal increase in what you can get for your home sale.

Pro: There Will Be Less Explaining
If you have finished the renovation, you have nothing to explain and no excuses to make to anyone. In the renovated condition, the home is what it is. Even if a prospective home buyer does not happen to like the new paint color you have chosen, they still can?t complain that it is old or worn looking. 

Con: You Will Need To Delay Your Listing
Home renovations can take up a lot of time, as you may know, if you have done a lot of them already. You will have to delay listing your home, which in turn will mean putting your moving plans on hold for what could be an extra month or two. Depending on your future plans, this could impact your child’s school entry date and more.

No one will force you to complete half-finished renovations. But consider these pros and cons before deciding how to proceed.

 

Filed Under: Mortagage Tips Tagged With: Mortgage, Renovation, Selling Home

Scott Photo

Contact Scott


Mortgage Sales Manager

Call (214) 755-5307

NMLS #595311
Servicing Texas
Logo

Connect with Scott

Have a Question?

  • This field is for validation purposes and should be left unchanged.

Consumer Compliant & Recovery Fund Notice

CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIALMORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.

Browse Articles by Category

Recent Articles

  • Navigating A Market With Higher Interest Rate
  • Understanding Mortgage Pre-Approvals and How to Avoid Being Declined for One
  • What’s Ahead For Mortgage Rates This Week – March 20, 2023
  • Is A VA Loan The Best Option For Your Needs?
  • Should You Pay Discount Points When You Get Your Mortgage?
Scott Moize - NMLS# 595311
First United Mortgage Group
NMLS #400025
This is not a commitment to make a loan. Loans are subject to borrower and property qualifications. Contact loan officer listed for an accurate, personalized quote. Interest rates and program guidelines are subject to change without notice.
First United Mortgage Group is an Equal Housing Lender.
EQL Logo
NMLS Consumer Access

Our Location


One Lincoln Park
8750 N. Central Expressway
Suite #930
Dallas TX, 75231

Copyright © 2023 · Powered by MySMARTblog