Selling an outdated or dysfunctional home can be difficult if not impossible. However, many homeowners hesitate to put more money into a home that no longer works for them. There is a distinct line between spending enough money to get the home sold and putting too much into it that you won’t get back. The key is to create a renovation budget that takes care of the problems in the least expensive way.

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Know What Needs Renovated

The first step is to know what issues need to be taken care of. One way to find out where to put your focus is by having a home inspection and an appraisal done before the home is listed. Look at both reports and notice the big-ticket items. When homeowners work with a real estate agent, they have the advantage of the person’s experience to know what buyers will look past and what will need to be fixed.

Outdated electrical and plumbing and foundation and structural issues are big warning signs to most buyers and the most expensive to repair. However, cosmetic issues can also deter many would-be buyers because of the cost involved in updating. For example, the average cost of a kitchen remodel varies from just a few thousand on a minor renovation to almost $100,000 for a high-end space. The majority of that cost is materials.

Because kitchens and bathrooms are big selling points for a home, these two areas often need the most work if they are outdated. However, you also don’t want to overlook the landscaping and outdoor space. The living areas and bedrooms are relatively inexpensive to update.

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How to Designate the Budget

Some homeowners will decide to put all of their money into one area, such as the kitchen. While updating this space is high priority, when you stop with one area, you make the rest of the house look worse. Instead, it makes the most sense to divide the budget to hit all of the major points.

Put most of your budget towards the kitchen, bathrooms and landscaping. Save about 10 to 15 percent to make inexpensive updates to the rest of the house. Paint is relatively cheap and can do wonders to the living room and bedrooms. If you need flooring, you can find inexpensive options that won’t cut into the budget too much. For example, replace an old carpet with vinyl or laminate. Modern laminate can be made to look like hardwood at a fraction of the cost.

Learn How to Cut Costs

You don’t want to be cheap on your renovation just because you’re selling since buyers can spot low-quality materials and work. However, you can learn how to reduce your costs by shopping for clearance products or going to outlet centers. Last season’s light fixture is still going to look modern but at a fraction of the price of the latest designs.

If homeowners are willing to do some of the work, they can cut down on labor costs. Even demoing a room can help out a tight budget before calling in the professionals. Another way to conserve your money is by talking to a contractor before you start the work. Let them know your budget and your goals, and they can create a proposal that provides the basics within your price. They know how and where to get the less expensive materials and where to cut costs and in which areas you should spend more.

If you want to get a homeowner to renovate their home for sale within a budget, encourage them to contact a contractor or remodeling company in the early stages. Indiana Residential has experienced professionals who can work within any budget and provide advice on how to renovate a house to help it sell faster.

Are you a Realtor in Central Indiana? Our team at Indiana Roofing understands your workload and all the things you juggle on a daily basis; from open houses to closing schedules.  We can help make your life a little easier with our Roofing Program designed especially for Realtors and your ever changing timelines and schedules. We service homes throughout Indiana including Carmel, Lawrence, Plainfield, Greenwood, Meridian –Kessler, Zionsville, Fishers and more.

We assume that all the homes you are selling have a roof, and being proactive with examining and repairing any issues ahead of time will save you tons of time and headaches.  We partner with Realtors in Central Indiana for all their roofing needs because we are able to save you time and money by helping to prepare your homes for market and catch any issues that may come up in an inspection report. Why wait to get the report back when you and the home owner already know there may be a concern worth looking at.  Our roofing specialists can inspect your roof and let you know all of your options so you can be prepared to accept and offer on your home and get through the inspection and closing process with ease.

How do we do all that?

1. We work on your schedule/timeframe

   With our One Call program, we respond to your calls within 48 hours and we fully understand how tight timelines can be when you are trying to sell a home.  We react promptly so you can have all the information you need to move forward.

2. We inspect your roof and find issues ahead of the game

   Because we work with Realtors directly, we are able to take a look at the roof before the house ever goes on the market.  This allows the homeowner and realtor to have productive conversations about any repairs that may come up in an inspection. Why wait for an inspection report to reveal roofing concerns? When you build a relationship with Indiana Roofing, we make your life as a realtor and help you to avoid many of the hassles.

3. We can save you money

   When we come out for preliminary inspections of your roof, we are able to suggest many ways you can invest in repairs and upkeep of your roof that will minimize all the red flags that an inspector may find during an inspection.  Don’t wait to get a laundry list of issues revealed in an inspection; your potential buyer may even be scared off.  We help alleviate the headaches and surprises that can come with an inspection report on older and even newer homes.

4. We can mediate between the buyer and seller for you

   Roofs are always a concern for buyers and the seller may have to spend some money to get it repaired properly.  We can provide everyone with all the options available that make sense to both the buyer and seller.  We understand what the “need to haves” and the “want to haves” really are on maintaining a roof and are able to coach both parties to help come to a resolution that is a win/win for everyone. Just one more way we take this burden off the Realtors during this process.

5. You can sleep at night knowing that our work is guaranteed!

   We are an Owens Corning™ Roofing Preferred Contractor, therefore you can assure yourself and your clients that we carry all the required state and local licensing and insurance, we are in good standing with the Better Business Bureau, and we have Knowledge of the latest industry standards and technology.  We get the job done right so your clients can trust in your resources and provide quality referrals for you.

Our trusted relationships with Realtors in Central Indiana allow our business to grow and in return we strive to help make your job as painless as possible.  We understand both sides of selling a home and would love the opportunity to show you how advantages we can be for one another.  Contact us today so we can come alongside of you to one of your properties.