Keller Williams Realty - Loveland Colorado

As the weather gets cooler, some homeowners could be considering undertaking home renovations or updates before the holiday season. Here are a few findings about updates and home sales:

• Homeowners typically spend considerably more on updates to their home when planning to live in and enjoy it, with an average of nearly $9,000.
• In contrast, homeowners only spend an average of $3,400 when making updates in preparation to sell.
• The most common updates performed before listing were paint, flooring, and light fixtures.
• Although the majority of buyers were least likely to compromise on the location, 16% were least likely to compromise on updates.
• 75% of homes sold were either fairly updated or very updated.
• Sellers began repairing their home 1 to 8 weeks in advance of listing.

Source: Keller Williams Realty, Inc., “This Month in Real Estate,” released September 2011.