Is It A Good Idea to Repair A House Before The Sale
Selling your home is more than putting an ad and waiting for potential buyers to call. Just packing up your things and organizing a schedule for an open house are enough to overrun you with chores. Therefore, thinking about whether it is a good idea to repair a house before the sale is a valid dilemma that may not be as complicated as you think.
Inspect the shape of your home
How much work needs to be done depends on the shape of your home. Hire professionals to assess electrical installations, pipes, gas supply, water supply, and structural integrity. This will let you know whether you should sell your house “As Is” or do the repairs.
For example, a house where you need to install new electrical wiring, patch water leaks, replace tiles, and repair the roof is not a small investment. If this proves too expensive or could take too long, then it’s best to consider selling the house in the present shape. Unfortunately, you’ll have to lower the price, but you won’t have to indebt yourself to do any renovations.
Find out how buyers think
Not all buyers want a renovated home. Some percentage of house-hunters out there are looking for a fixer-upper they can make their own. However, there’s a catch here: they are not looking to invest in huge repairs, but rather cosmetic changes. Additionally, most of the fixer buyers want to buy cheap, invest in remodel, and sell for a high price.
Since this type of buyer likes to bargain, you may be in for lengthy negotiations where they will try to discount the price as much as possible. Thus, you should be better off doing some hefty repairs and selling the house for more, as well as that it might get you a buyer faster. Unless they plan to flip the house, buyers don’t want to go through complicated and expensive renovations, like roof repairs.
Cover the big stuff
If you want to sell your house for a good price, you need to target first-time buyers and people who don’t want to make big investments in repairs. This is why you will have to deal with the big repairs that these buyers will appreciate. HVAC, appliances, electrical installations, lighting, and plumbing are the things that should be in excellent operating conditions.
Now, you don’t have to buy a new air-conditioner or a faucet, just repair them and let buyers replace them if they want to. Roof repairs are something that both sellers and buyers are reluctant to do because they can be pricy. This is a well worth investment since you can factor it into the price and it can make your property more desirable on the market.
Don’t forget the exterior
Remember that the first thing anyone sees is the exterior of your house. The curb appeal can affect their opinion on the house so make it shine. The first step is to declutter your yard from all the junk that has piled up over the years and do some landscaping.
If you have heavy things to remove, consider a forklift hire since that can speed up the whole process of cleaning up the outdoor area. Refresh the paint on the fence, gate, front door, and porch, but also window frames and the roof edges. After you cleared the space, mow the lawn, trim the shrubs, plant colorful flowers, and power-wash embedded dirt and stains.
Do cosmetic remodeling as a minimum
Cosmetic touches are the least you can do to make your home more attractive on the market. This type of repair includes repainting the walls, cleaning the carpets, and upgrading your furniture. As a rule, empty homes are not as popular as furnished ones and you can’t have potential buyers looking at the battered décor.
When it comes to painting color, avoid dark shades and white. Neutral tones are welcoming and create the feeling of coziness that potential buyer is looking for in their future home. After all, it is all for show and you can take everything you brought with you when you sell the house.
Talk with your real estate agent
When in doubt, consult with your real estate agent since they know best what’s in demand on the market. They can tell you the prices of homes like yours before and after the repairs, so you can make an informed decision.
The common mistake among sellers is that they invest too much money into renovations, but they are not something a buyer is willing to pay extra. For this reason, you should sit down with your real estate agent and listen to his financial advice. That way you see what is best to do to make the sale profitable and smooth.
Yes. It’s a good idea to repair a house before the sale. The only thing that may prevent you from doing that is if you want to sell the property fast or don’t have money for improvements. Other than that, calculate your budget, browse through DIY pages, and give your home a makeover. It will pay off in the end.