October 23, 2019
There’s a big difference between renovating a home and updating it. The former involves a more dramatic execution—knocking down walls or retiling an entire bathroom. Updating is making cosmetic changes such as painting a kitchen or replacing a light fixture. Renovating is, obviously, much more expensive and time-consuming than updating, and that’s why many sellers resist it when they’re listing their home. According to one broker, renovating helps sell houses. “Buyers may say, ‘I’m willing to do some work as long as it’s not too much,’ but the truth is, when they actually walk in the front door, the ready-to-go house wins hands down,” says Robin Kencel, an associate real estate broker at Compass Real Estate in Greenwich, Connecticut. What makes a move-in-ready house or apartment so attractive to potential buyers comes down to this: Someone has already done the work, which means the buyer won’t have to.