Renovating a property to sell to an investor is different from flipping a home for a quick profit. You are not just making it look nice for the next owner, you are increasing its value so it can bring in higher returns.
What you have to do is make smart upgrades that attract investors looking for long-term gains. If you are in Sarasota or Bradenton, the right renovations can make your property more competitive in the market.
Homeowners who know the importance of working with property managers have a higher chance of having their property taken off the market in the shortest time possible after renovations.
1. Understand How the Market Works
Before making any renovations, research the Sarasota and Bradenton property markets. Investors will be looking at median home prices, rental income potential, and local demand.
You need to know what buyers in these areas are willing to pay for a renovated property. Over-improving can make your home too expensive for investors, while under-improving can make it unattractive.
2. Plan Your Renovation with a Strict Budget
One of the biggest mistakes sellers make is over-capitalizing on renovations. The key to a profitable renovation is setting a budget and sticking to it.
In Florida, full-home renovations typically range between $21,500 and $76,400, depending on your home’s size, the materials you choose, and how much work you’re actually doing.
Per square foot, you’re looking at about $16 to $65 for a full renovation, but if you’re just redoing the kitchen or bathroom (which are great resale boosters), that jumps to $130 to $280 per square foot.
Once you have your top-line budget, set aside at least 15–20% as a buffer, because you never can tell what’s behind your walls when you pull them down. There could be leaking pipes, mold, or anything that requires an inspection fee.
You should also avoid overcapitalising. If your property’s post-renovation value is expected to be $500,000, do not spend $200,000 on renovations unless you are certain of a high return.
3. Focus on High-value Improvements
Investors want properties that are move-in ready and require minimal additional work. Focus on renovations that add the most value. In Sarasota and Bradenton, properties with modern kitchens, updated bathrooms, and fresh curb appeal attract more buyers.
Investors also appreciate energy-efficient upgrades, so installing LED lighting, smart thermostats, and efficient windows can make your property more attractive.
4. Address the Structural Issues First
There’s no point in making cosmetic upgrades if your home has major underlying issues. Before anything else, check that the essentials are in good condition.
No one is going to buy your property for a reasonable amount if there are any underlying issues such as roof damage, foundation problems, rotten wood or termite damage, or even electrical and plumbing issues.
Before you sell, call in a professional home inspector to check for these damages. Also, if your property has been vacant for a long time, check for hidden structural damage before starting renovations.
5. Work with a Property Management Company for Maximum Returns
Once renovations are complete, selling your property through a reputable property management company can streamline the process and help secure the best deal.
If you’re a homeowner looking to renovate and resell your home in Sarasota and Bradenton, Jennette Properties offers expert property management services tailored to investors. We understand the local market, have a network of potential buyers, and can help you maximize your return on investment.
Get in touch with us today to turn that “For Sale” sign into a “Sold” sign in no time!
