Update or Credit?

When planning to sell your home, one thing people consider is if you should update the interior (flooring, appliances, etc) or be ready to provide a credit to a potential buyer. Each situation is different so you have to decide what works best for you, however, here are some reasons to update before listing your property:

1) Replacing things now will allow you to enjoy the upgrades at least for the time your property is listed. You may even change your mind about selling after you've installed the new flooring or upgraded your appliances and cabinetry. Of course you should stay within a budget and also get advice from an expert Realtor or stager prior to selecting your materials and color.

2) Move-in-ready homes are of more interest to most buyers nowadays then fixer-uppers. The potential for your home to sell in an upgraded condition is greater than selling it with a credit. The home will also show better, influencing a buyer to put in an offer on your home rather than the fixer-upper around the corner.

3) Doing the upgrades yourself may be more cost-effective than providing a credit. Buyers may over-estimate the cost of upgrading, requesting you provide more of a credit than you planned and more than it would have cost you to upgrade prior to listing.

There is no universal answer to this question and many factors will play into your decision. And there are buyers out there who are looking for fixer uppers. You need to look at your situation and consider consulting a real estate professional for an expert opinion.

For more information on renovating, staging, or any other real estate questions, please contact us at 888-988-6248 or www.choicehomeshawaii.com.

About the Author

Brandon Lau grew up in Kailua and currently resides in Honolulu with his wife Andee and children Caylah, Elijah, and David. His eighteen years in real estate led him to become a Partner at ChaneyBrooks Choice Advisors. Over the past 10 years he has developed the team and systems that has created a high level of service and value for his clients.

What differentiates Brandon and his team is his consultative approach to real estate. He advises clients with relevant data and expert insight to help them make the best choices in real estate. Good choices in planning for long term dispositions, negotiating for the best price or knowing when not to pursue an investment are ways his consultative services will give you an advantage in the marketplace. His bottom line is providing service with the utmost integrity and expertise.