Articles and Advice
What to Repair Before Listing Your House
Making a home ready to be listed for sale isn't always a matter of large-scale improvements. It is, more often than not, a matter of a few key repairs that will make all the difference, while a handful of less important fixes will wait. Here's how to determine which is which.
Begin With What Turns Off Potential Buyers
As you tour your own home with buyer's eyes, make a list of things that would give a potential buyer pause. Address these first, while the rest can wait, as the first impressions are the most important. Make repairs to give a buyer immediate positive feedback, such as painting a room in a nice neutral color, replacing the screen on a door, or repairing the light fixture at the front door, all of which will go a long way toward making the home enticing to the first potential buyers.
Tackle the Small Projects
The small things have a big impact on a buyer's opinion of value, as well as an inspector's report. Quick and inexpensive repairs to loose doorknobs or windows, or old or missing caulk in the bathroom should all be on a priority list, as they are things that a buyer is likely to note and can become points of contention during price negotiations. If an issue is likely to come up during the home inspection, it's almost always best to fix it yourself now and within your price range, rather than waiting until negotiations are already underway and the buyer's agent is asking for a credit at closing.
Pay Off the Value Repairs
Some repairs offer much better value than others; in short, certain home improvements offer much more in return than others. Larger-scale repairs, such as those to electrical and plumbing systems or the roof, have significant value to many homebuyers, as do repairs to kitchens and bathrooms, which are major factors in the value of a home. Upgrades done to paint and fixtures have value, as well, especially when it comes to making the home feel more welcoming.
Don't Overimprove the Property
It's important to keep the value of similar homes in the area in mind before making any improvements to the home. In short, buyers will not overpay for upgrades, especially if they aren't in keeping with the value or style of the homes surrounding it. Before doing any improvement projects, it is a good idea to talk to a real estate agent and determine what upgrades would improve the value of the home in the eyes of the buyer, as well as see what other similar homes in the area have been selling for.
Ask for a Second Opinion
Before making any of the repairs in this guide, it's always a good idea to ask your real estate agent to go through the home with you to see what they think should be done. After seeing a number of homes go through the repair and selling process, an agent will be able to advise you on what is and isn't worth the time and money in order to make your home enticing to buyers. Beyond that, a second opinion can draw attention to things that you have stopped seeing after living with them for so long, such as a loose stair rail or a door that doesn't close properly.
There are many things that don't require repair right this second, so make sure to create a list and prioritize what needs to be done based on value and time. It's always a good idea to keep repair receipts on file, especially in cases of major expenses.
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