Should You Renovate Your NYC Townhouse Before Selling?

Do you need to gut renovate or renovate your NYC townhouse before selling? Is it a good idea? We will demystify this topic in the following video.

I’m Nick at Hauseit (https://hauseit.com). Give us a shout if you're looking to buy sell or rent in New York City, Long Island, Westchester, the Hudson Valley or here in South Florida. We can save you money when buying, selling or renting. So, check out our website https://hauseit.com to learn more or send us an email to team@hauseit.com.

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So, going back to the topic here, should you gut renovate or renovate your townhouse in any way before listing it for sale here in New York City. We receive calls all the time from townhouse owners here in the city who ask us this very question and it is a very good question because the reality is a lot of these townhouses have not been renovated in decades.

A very common client for us who gives us a call is somebody who may potentially have acquired a property through the passing of a parent and the property just hasn't been touched in, you know decades upon decades they're quasi-decrepit in some cases so they ask is it you know is it a good idea to renovate my place, gut renovated, you know get a lot more money if I go ahead and do that. So, the answer to the question is that it's rarely if ever a good idea to gut renovate a townhouse for the sole purpose of selling it later on.

One of the main reasons why, is that you know buyers ultimately really prefer to make their own mark on a home. So, if you spend $50k on a bathroom and yeah you choose the wrong tile, a buyer would much have preferred to have paid $50k less for the property to have the opportunity to choose their own finishing for their new home. So, in other words you rarely will actually get paid back dollar for dollar if you undergo any form of like total gut renovation on a townhouse before selling.

So, aside from the cost the problem with gut renovating before selling is the timing and uncertainty factor. So, when you renovate in New York City, you have to deal with the department of buildings. You have to deal with engineers, architects and you also have to deal with the supply chain. Any one of those factors can potentially delay your renovation by additional weeks and months at a time. So, the actual scope of the project can just blow out from a timing perspective to the point where you're losing valuable potential time on the market and as we've learned with covet, the market can change it ebbs and flows.

Now another question we receive from potential home sellers of townhouses in New York City is you know, “okay you've told me that I don't need to get renovated but should I do anything to my townhouse before listing it?” Well this is a really interesting question because there actually are a number of things you can do cost-effective things you can do to maximize the return on your investment and to achieve the highest sale price. The most important thing honestly is to ensure that the property exterior and the windows are thoroughly cleaned.

The other recommendation for you know, enhancing your townhouse prior to listing is to make sure that you ideally clean the walls. Oftentimes, these walls are literally like dusty. They have cobwebs. So, you know basic cleaning and scrubbing of the walls is a starting point and
thereafter you may very well want to repaint.

Give us a shout if you are looking to buy, sell or rent. We can save you money on your transaction. So, you can contact us via email team@hauseit.com or give us a call at (888) 494-8258.

We have two services for sellers. We have our 1% Full Service, save you great deal of money compared to a traditional agent and we also have our Assisted FSBO Service, which is a lower
cost product if you are open to potentially saving up to 6% on your sale in exchange for having some degree of involvement in the process. I’m Nick at Hauseit and we'll see you on the next video.
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https://www.hauseit.com

Save money when buying, selling and renting real estate in New York and Florida with Hauseit. Available in NYC, Long Island, the Hudson Valley and South Florida. Est 2014.

Hauseit Group LLC, Licensed Real Estate Corporation
Tel: (888) 494-8258 | https://www.hauseit.com
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