Renovating a home is not easy, especially when that home is in New York. While not required for selling a home in New York, renovations can help raise the resell value. Whether it is worth it or not depends on how you feel about renovation, though.
Know the Rules
New York housing is extremely strict, especially if you live within the city itself. Study the rules to find out what sort of renovations are allowed, if there is a certain time frame it has to be completed, and what sort of permits would be needed. It will make considering renovations much easier.
Look at the Numbers
Compare your pre-renovation home to other homes in the area, and see if renovations would actually make a difference. If you find they do, then chose to focus on areas like bathrooms and the kitchen, which bring in the most profit. Also consider whether you will save money and do the project yourself, or higher a contractor to help with the work.
How Far Will You Go?
Renovating before selling a home in New York can be extremely beneficial, but you have to be willing to spend a decent amount of money. New York buyers tend to expect higher-end products for the amount they spend on a home. It is also a good idea to consider if you will do one project or multiple and if it will be a DIY job or not.
It can seem expensive at first, but the payoff for renovating can be a big one. Just make sure you know what you are doing, or hire someone experienced to carry out the job. One good renovation has the ability to add thousands to your resale value.