Do you keep your property and renovate, or should you sell and start over?
That question haunts homeowners across the country, especially those living in older homes with outdated plumbing, ancient wiring, and questionable structural integrity. Whether you recently inherited a family home or are just staring at your aging kitchen and wondering if it’s time to move on, this guide from Karin Ross Designs will help you weigh the possibilities while keeping your sanity and finances intact.
Renovate or Sell? Here’s Where to Start
Before you begin calling real estate agents or picking out tile samples, take a step back and give the decision the careful thought it deserves. Emotional ties, financial goals, and the condition of the home all come into play. It’s not just about whether you can renovate or sell, but whether you should.
A great starting point is to consult experts in the fields of real estate, remodeling, and home inspection. This is especially true if the home is showing signs of wear or an outright rebellion, such as leaky pipes, a bowing roof, or flickering lights.
Many homeowners make the mistake of rushing to list their homes before considering the true potential a thoughtful home renovation could unlock. The opposite is also true. Some people throw money into renovations without knowing if they’ll get a good return. Timing, local market conditions, and personal circumstances all matter.
Get a Thorough Home Inspection
One of the first things you should do, whether you’re leaning toward renovation or sale, is to schedule a thorough home inspection. This is not an inspection that merely checks for termites and mold. You’ll want specialists to look at:
- The roof – Is it shedding shingles or showing other signs of wear?
- The foundation – Are there any cracks or shifts?
- Plumbing and electrical – Are your pipes and wires old, outdated, and possibly dangerous?
- Safety hazards – Is there anything that could fail a building code inspection or scare off potential buyers?
These inspections will give you a realistic idea of the cost and scope of what’s needed. Whether you choose to renovate or sell “as is,” these issues will need to be addressed sooner rather than later.
Ask Yourself: Are You Emotionally Attached?
A home isn’t always just walls and a roof. If this is your childhood home or where you raised your own kids, your attachment may go beyond resale value. That sentiment could make staying and renovating the more rewarding choice, even if it’s not the most financially obvious one.
Renovating a beloved family home can be a way of preserving memories and maintaining a legacy. With the right team, like Karin Ross Designs, it’s possible to honor the home’s past while updating it for the future. Just because your kitchen has never seen a renovation doesn’t mean it isn’t worth saving.
Location, Location, Location
Real estate always circles back to location, and this decision is no different. If your home is in a thriving neighborhood or an up-and-coming one, renovating can be a savvy investment.
In a hot market like Kansas City, for example, properties in good school districts or near trendy amenities can skyrocket in value with a few simple upgrades. On the flip side, if your home is in a declining area or next to a highway on-ramp, renovations may not yield as much return. Market trends, zoning changes, and development plans should all factor into your decision.
Talk to a Contractor and Interior Designer
Once you’ve done the inspections and soul-searching, it’s time to bring in the professionals. A remodeling contractor will give you an estimate on the work required, while an interior designer will help you visualize what’s possible, especially in spaces like the kitchen or bathroom where function and form both matter.
Getting both experts involved early can save you time and money. For example, if you’re opening up walls to replace wiring, that’s also the perfect time to reroute plumbing or reconfigure your kitchen layout. Karin Ross Designs has worked with countless homeowners to modernize kitchens and bathrooms in ways that are both practical and breathtaking.
Whether you’re going for a full gourmet kitchen or a powder room remodel, the best results come from collaborating early with pros who understand your style and budget.
Financing the Dream or the Exit Strategy
Whether you’re fixing up to stay or to sell, the cost question looms large. Renovations can be expensive, especially if you’re dealing with major systems like plumbing or electrical. However, there are smart financing options available.
- Home Equity Loans and HELOCs: Use the value you already have in your home to help pay for the repairs or upgrades.
- Renovation Loans: Some lenders offer loans specifically for home improvements.
- Government Incentives: There are often tax breaks available for installing energy-efficient appliances or solar panels.
- Grants for Historic Homes: If your home qualifies, you might get financial help for preservation.
Don’t forget to factor in permits, labor, materials, and even potential hotel stays if your home becomes uninhabitable at any point during the remodel. The bottom line is that renovating should be viewed as an investment. It could boost your home’s value, whether you plan to stay or list it down the road.
Move-In Ready vs. Sold As-Is: Know the Market
If you’re leaning toward selling, understand what buyers are looking for. These days, homes fall into two main categories: Move-In Ready or Sold As-Is.
Buyers love a home that doesn’t require immediate work. Move-in-ready homes often fetch higher prices and spend less time on the market. On the other hand, selling a home as-is may be faster, but you’ll likely have to accept a lower price and attract a smaller pool of buyers willing to take on the work.
Renovating key areas like the kitchen and bathrooms can put your home firmly in the “move-in ready” category. That’s where design professionals like Karin Ross can be invaluable, helping you choose upgrades that buyers crave.
Your Home, Your Call
Ultimately, the choice to renovate or sell comes down to your unique situation. Do you love the neighborhood? Can you afford the investment? Is this home a place you see yourself in for the next five, ten, or twenty years?
Maybe the home needs work, but it’s in a location where values are climbing. Or maybe it’s a money pit in disguise, and the best thing you can do is walk away with whatever the market will give you.
Whatever you decide, don’t make the call without the right information, the right professionals, and a clear understanding of what matters most to you, financially and emotionally.
Ready to Take the Next Step?
Whether you’re dreaming of a gourmet kitchen, a spa-worthy bathroom, or finally updating the original tiles, Karin Ross Designs is here to help. With over 30 years of experience in bathroom and kitchen remodeling in Kansas City, we specialize in remodels for those who plan on staying or selling. Contact us today to schedule a remodeling consultation, and let’s figure out whether your future lies in renovation or relocation.
