Wednesday, May 8, 2019

Should I fix up my home before selling?

Most home sellers asks themselves: Should I spend more time and money on fixing it up or just try to sell it as is?

The answer depends on variables. What's the condition of competing homes for sale? Is it a hot market? What's the likelihood of a return on your investment?

Most buyers want a home that's in move-in condition. You can limit the number of buyers who might be attracted to your home by not making repairs.

Before Fixing Up Your Home

Smart sellers will weigh the cost of the proposed improvements against the home's market value after the repairs or upgrades are completed. Before you decide to lift the roof and install skylights in the master suite, realize that kitchens and baths carry the highest return.

Compare homes in your price range to yours. If most of them have upgraded kitchens, you should concentrate on fixing the kitchen. This doesn't mean that you have to tear out the cabinets but a minor kitchen remodel might be a good investment. 

Where to Start

Make a list of everything that's defective, broken, or worn out. Buyers might wonder what else in the home has been neglected if they spot problems or malfunctioning systems as they tour your home.

Minimum improvements to consider making include patching holes and cracks in the walls and ceilings and fixing broken appliances and HVAC systems. Repair leaky faucets.

Replace broken window glass and repair the roof if necessary. Change any dated light fixtures or ceiling fans.  

Cosmetic Touches

Replace carpeting, repaint with neutral paint—not white. Tidy landscaping, a fresh coat of paint on the front door and a clean front porch will make a great first impression.

Keep in mind that empty homes don't show as well as furnished rooms, but battered furniture and clutter can detract from your home's appeal. Consider upgrading your furniture if it's in bad shape. You can always take it with you when you go. 

Talk to your agent before making any repairs to weigh the pros and cons with your particular home and your personal situation. Your agent has his/her thumb on the market, so ask him/her for advice.

No comments:

Post a Comment