Anyone who wants to sell their house or flat naturally hopes to achieve the best possible price. In many cases, however, the property is already showing its age: the white façade has turned rather grey, moss is spreading across the roof tiles and the interior may have been modern back in the 1980s. That raises the question of whether it is worth renovating the house or whether you should save yourself the cost and sell the house or flat as it is. This guide gives you the answer.
If the property you are selling needs renovating, prospective buyers will subconsciously assume that there are further problems or even damage. Even though this is not a logical conclusion, it can cost you real money. If the property does not make a good impression, potential buyers will either drop out straight away or use its condition to negotiate the price down. Buyers also usually estimate the cost of renovations to be much higher than it actually is. So take the opportunity to renovate your property before the planned sale, or let umbaumanager.ch do it for you!
Property value: which criteria matter?
To find out whether renovations are worthwhile when selling and will have a positive effect on the sale price, you first need to determine the current market value (Verkehrswert) of the property. This depends on the following criteria:
Condition
Location
Fittings and finishes
It is advisable to have an estate agent carry out the property valuation. After all, you do not want to sell the property for less than it is worth. But if the price is set too high, no buyer will come forward and the sale may be delayed indefinitely.
Renovation or refurbishment – what is the difference?
In everyday language, the terms “renovation” (Renovation) and “refurbishment” (Sanierung) are used as synonyms. However, there is a difference.
What is renovation?
Renovations serve to improve the appearance of a property. These measures are cosmetic and usually involve wallpapering and painting. Repainting the façade and refinishing or replacing floor coverings also fall under the term “renovation”. Renovations are not strictly necessary, but they make the home more pleasant to live in. However, if you are busy selling your house or flat, you are unlikely to have the time or inclination to carry out the renovations yourself.
It is always advisable to have a professional carry out the necessary work, and this is where umbaumanager.ch comes in. Get in touch with us, the house renovation company, and tell us about your project! We look forward to renovating your house or flat and will support you with qualified tradespeople, advice and practical help.
What is refurbishment?
Unlike renovation, building refurbishment is about remedying serious defects. Refurbishment includes, for example, drying out a damp basement or removing mould. These are complex measures that usually have to be carried out by a professional. Here too, you can confidently turn to umbaumanager.ch, and we will find the right solution for you and support you in every aspect of your refurbishment work.
Which renovations and refurbishments can increase the sale price?
In principle, there are many measures you can take to drive up the sale price. The individual options are listed below.
The roof
A watertight roof is a basic requirement for selling a property. But even if the roof leaks, it does not necessarily need to be completely re-covered. It may be enough to replace only the affected tiles. This way, the roof can be repaired with little effort and the property becomes easier to sell.
The façade
Before the sale, the exterior walls should be checked for dirt and cracks. A new coat of paint is not always necessary. In any case, it makes sense to clean the façade and remove any plant growth.
The garden
It is important that the outdoor area looks well cared for. It definitely pays to invest a little time and effort in the garden and smarten it up with some targeted work. The lawn should be mowed and the hedges trimmed. If the garden fence no longer looks good, a fresh coat of paint is advisable. Small improvements like these can transform the garden in no time, which increases the value of the whole property.
The interior
A simple rule of thumb applies here: the higher the standard of the interior, the higher the sale price can be. A property is considered normal standard if some of the pipes and cables are surface-mounted, the windows are double-glazed and the kitchen and bathroom are tiled. A high standard is defined by a modern heating system, a modern and timeless bathroom (large bathtub, wall-hung WC, walk-in shower), concealed pipes and cables, high-quality floor coverings (for example parquet or laminate) and thermally insulated windows.
The floor coverings
To sell at the best possible price, the interior should of course also look clean and well kept. If the carpet is old and worn, the floorboards underneath may well look better. If not, it is worth replacing the carpet. Bear in mind, however, that other floor coverings are better suited to increasing the sale price. That is why tiles, laminate, parquet and vinyl flooring are popular choices when renovating or refurbishing a property.
The heating
Installing a modern heating system is a good opportunity for owners to add value to their property. The options include gas, oil or pellet heating. Pellet heating is a particularly environmentally friendly method in which the system is fuelled with wood pellets. With an energy-efficient heating replacement, owners reduce their environmental footprint, which also makes a good impression in the sales brochure.
Regardless of any renovation or refurbishment, it is important that the flat or house makes a well-kept impression at viewings. The property must be free of defects and appear bright, clean and well maintained. These qualities are what primarily make the property attractive to prospective buyers and have a positive effect on the sale price.
Renovating before selling: is demand the deciding factor?
Whether it is worth renovating the property depends above all on demand. In areas with weak infrastructure and a population that often moves away because of a lack of economic development, you will find many old houses for sale. However, these properties often attract only a few interested buyers, which is why it is not advisable to renovate such houses before selling. Although renovations and refurbishments increase the market value of these properties, the lack of demand has a negative effect on the sale price, and even extensive renovations and refurbishments cannot make up for that.
When renovating always pays off
The situation is different in regions where supply and demand are balanced. These include, for example, areas with attractive residential locations, such as by a lake or in the mountains. People moving away are balanced out by people moving in, so demand always stays at a certain level. If you are selling a property in such an area, renovations and refurbishments before the sale are always worth considering, at least if the property is already showing its age.
Renovating in areas with high demand
Areas with a growing economy and well-developed infrastructure are particularly attractive to many buyers. In these areas, demand often exceeds supply, and properties on the market are highly sought after. If you decide to renovate and refurbish such a property before selling it, you can achieve a considerably higher price.
Renovating a house: the question of cost
If you decide to have your property renovated but lack the cash, a modernisation loan can help, for example. Alternatively, you can take out a reverse mortgage to raise the necessary funds and have your house renovated. If you have opted for a partial sale of your property, part of the amount paid out can later be used for the renovation. This makes it possible to renovate even very old houses with a greater need for refurbishment.
Renovating a house: what matters
Weak points or defects in the building fabric can seriously threaten the sale price. In that case, renovations before the intended sale are essential; otherwise you will not achieve a good price. Renovating the property is then indispensable. The costs always depend on the measures required. Older buildings in particular usually have considerable defects, and the house urgently needs to be renovated or refurbished before it goes on the market. The condition and age of the building fabric and any existing defects determine which refurbishment approach is chosen.
If you tackle the project yourself, the costs can rise sharply due to a lack of experience. Protect yourself from this and let a professional do the work instead. We at umbaumanager.ch are happy to help you with refurbishments and renovations. Send us your no-obligation enquiry today, and by tomorrow you will know more about what lies ahead. We will certainly not leave you alone with the tradespeople: we keep all the threads in one hand and coordinate all the administration for you. See for yourself.
Conclusion
If you want to renovate before selling, you should be fully aware of the condition and, above all, the location of the property. Refurbishment is only necessary if the building has defects that absolutely must be remedied. Renovations are usually enough to smarten up the property and drive up the price. If you do not want to or cannot renovate yourself, we, as a house renovation company, will gladly take on this work for you. Get in touch with us now for advice!
