Repairs,
renovations and upgrades are a must-do before you put your house on
the market.
All existing systems, including windows, doors, plumbing, and electrical must
be in perfect working order. You may not have to replace or upgrade every item.
But you need to know that buyers in this marketplace expect that the home they
purchase is in perfect working order. The benefit for you is that this buyer
pays you top dollar for a home that is “toothbrush ready.” That’s a real estate
expression that agents often use to signify a house that is move in condition
without any further preparation. “Just bring your toothbrush.”
4 Reasons Why
Repairing Before You Sell Saves You Money
- Your potential buyers won’t be distracted by problems and repair items; they will focus on your home’s positive, not negative, features.
- Your actual cost to fix items will always be less than a buyer’s estimate.
- Your purchase negotiations won’t drag on and on over minor repair issues.
- You won’t have to do a price reduction to reflect the estimated (over-inflated) cost of repairs.
Ignoring Repairs
Costs You Money!
You want to make
the big bucks when you sell? You want to sell quickly? Then you are just going
to have to bite the bullet and do all the needed repairs. It’s important to
complete all these repairs before the sale because you are going to have to do
them eventually. Yes, that’s right, somehow and at some point these repairs
will cost you! And if you don’t do them before sale day, you’re going to be selling your house for a lot less than what these fixes
cost. And here’s the real bottom line: Fixing them now is the most
cost-effective way to take care of them. The longer you wait, the more it will
cost you. Simple as that. So just do them!
Saving Money on
Repairs
The least
expensive way to deal with problems and repairs is to address them before you
sell. Waiting to have the buyer inspect and then ask for a credit or price
reduction always results in the cost of the repair being overestimated—costing
you money. It also forces the negotiations to drag out longer—costing
you money. It can force you to reduce the price of your house—costing you
money. But most importantly, even the littlest repair or problem will distract
your buyer as they walk through your house deciding if they want to buy and how
much they want to offer. It takes them out of their positive emotional
experience and forces them to focus on problems…not positive aspects. Again…and
big time….costing you money!
Excerpted from Michael Corbett’s Blog on trulia.
Excerpted from Michael Corbett’s Blog on trulia.