How Much is a Renovated Home Worth to a Buyer?

Buyers are willing to pay more for renovated homes, but not as much as they were a couple of years ago. Right now in Manhattan, the "Renovation Premium" is about 18%, meaning that fully renovated homes sell for about 18% more than unrenovated homes, according to UrbanDigs. That number is down from around 32% during the peak of the post-lockdown buying frenzy, when supply issues and strict building Covid protocols made renovating even more expensive and time-consuming than it normally is.

This doesn't necessarily mean you should renovate before listing your home for sale. First, it depends on your goals. Second, there are many measures you can take that will make it more marketable for much less money and effort (we've used some of them, and we know that they work). Contact us and let's discuss your best course of action.