Renovate or Sell As-Is? Getting the Best Outcome From an Inherited Maryland Property

Inheriting a property can feel like both a gift and a burden. Alongside memories and emotions, many heirs are suddenly faced with a practical question they never expected to answer:

Should I renovate this home, or sell it as-is?

There’s no universal right answer, especially in Maryland, where housing inventory, buyer expectations, and renovation costs vary widely. The smartest choice depends on your goals, timeline, and how the numbers actually shake out.

Here’s how to think through the decision clearly and confidently.

First: Clarify Your Real Goal

Before looking at paint colors or contractor quotes, it’s important to identify what matters most to you.

Ask yourself:

• Do I want to maximize net proceeds, even if it takes more time?
  
  

• Do I need a simple, fast sale with minimal involvement?
  
  

• Am I managing this property locally or from out of state?
  
  

• Is there emotional value in preserving the home or would moving on be a relief?
  
  

Your answers help frame whether renovations are a strategic investment or an unnecessary complication.

When Renovating Can Make Sense

In some cases, targeted updates can meaningfully increase buyer interest and final sale price if done strategically.

Renovation may be worth considering if:

• The home is structurally sound and functional
  
  

• Improvements are mostly cosmetic (paint, flooring, lighting)
  
  

• You have the time, cash, and appetite to manage the process
  
  

• The projected return comfortably exceeds the cost
  
  

That said, renovations on inherited homes often cost more than expected, especially when older systems or deferred maintenance come into play.

As Meredith Fogle of The List Realty puts it:

“Renovations only make sense when they clearly improve the final outcome. The biggest mistake I see is over-improving without a clear understanding of what today’s buyers actually value and what work will render the highest return on investment.”

When Selling As-Is Is the Smarter Move

For many inherited properties, selling as-is delivers the best net result, even if the price is lower.

Selling as-is can be ideal if:

• The home needs significant repairs or updates
  
  

• You want to avoid contractor coordination or upfront costs
  
  

• Multiple heirs are involved and simplicity matters
  
  

• Speed, certainty, and reduced stress are priorities
  
  

As-is doesn’t mean “fire sale.” It means pricing accurately, setting expectations clearly, and attracting buyers who are prepared for the property’s current condition.

In Maryland, well-positioned as-is listings often generate strong interest when they’re marketed thoughtfully and priced correctly.

The Financial Reality Most Sellers Miss

Here’s where many inherited-home decisions go sideways: gross price vs. net outcome.

A renovated home might sell for more -  but after:

• Renovation costs
  
  

• Carrying expenses (taxes, insurance, utilities)
  
  

• Time delays and risk overruns
  
  

…the net proceeds can be surprisingly close to or even less than an as-is sale.

That’s why a clear, side-by-side analysis is essential before committing to any work.

Why Strategy Matters More Than the Choice Itself

The real advantage comes from understanding your specific property in today’s market, not from defaulting to renovation or avoiding it altogether.

A strong strategy includes:

• A realistic as-is valuation
  
  

• A conservative renovation ROI estimate
  
  

• An honest timeline comparison
  
  

• Clear pricing and positioning either way
  
  

“Inherited property sales aren’t just real estate decisions; they’re life decisions,” Meredith Fogle notes. “The best outcomes happen when sellers understand their options before emotions or assumptions take over.”

The Bottom Line

Renovating isn’t always the path to the best result - and selling as-is isn’t settling for less.

The right choice is the one that:

• Aligns with your goals
  
  

• Minimizes unnecessary risk
  
  

• Maximizes your actual outcome, not just the list price
  
  

If you’re unsure which path makes sense for your inherited Maryland property, getting clear guidance early can save you time, money, and stress - and will help you move forward with confidence.