Excellent article by Michelle Huffman for the Council of Residential Specialists which is a high designation I proudly hold.
You want to sell your home quickly and profitably, but you may have a few repairs to make first. But how do you know which repairs are worth doing, and which ones are better left to the buyer? Here are a few tips:
Focus on the exterior. First impressions are lasting impressions, so be sure the outside of your home is clean and inviting. Paint or replace shutters that are faded or worn, update landscaping and make sure your front entrance is welcoming to visitors.
Play it safe. Fix items that are a clear safety risk or environmental issue, such as broken steps, electrical issues, water damage, rotten or chipped flooring or a leaky roof, which can spook buyers. You can save money on large repairs by getting competitive bids from businesses in your community, then your CRS can strategically include the repairs in your home’s listing.
Think small. Minor flaws can be seen as huge problems when potential buyers are examining the space—for every $1,000 of perceived defect, the buyer will ask for a $3,000 to $5,000 reduction of the asking price. Replacing or repairing worn woodwork, caulking in bathtubs and showers, faded wallpaper, marred walls and stained ceilings, loose knobs, sticking windows and broken light switches are all ways to make your home more appealing.
Decide when to go big. Once you know what repairs or upgrades are needed, it’s time to decide what’s actually worth fixing. For example, if your kitchen cabinets are very beat-up or outdated, it may be worth replacing them. However, since buyers tend to tweak cosmetic details to their own tastes, cabinets that are in relatively good shape can be resurfaced instead. Upgrades that are almost always worth it are hardwood flooring, roofing and insulation, which reap 95 percent returns on investment or higher. When in doubt, talk with your real estate agent about features that maximize your ability to sell in your area.
Keep it clean. Buyers may see the surface condition of your home as a sign of what’s underneath. Keep windows, floors, walls and other surfaces clean. Steam clean carpeting and other fabrics, and, if needed, hire a cleaning service to ensure the place is always tidy.
Provide quotes. Items such as energy enhancements or major appliances are best left to the buyer, but you can provide quotes to help them budget if they want to replace or upgrade in the future.
Inspect it. If you are still unsure about some features of your home, consider getting a pre-inspection or talking to a real estate agent about a pre-listing inspection.
When deciding to selling your home, guidance from a qualified real estate agent is invaluable. Not all agents are created equally though, so when you turn to sell, contact a Certified Residential Specialist. These agents have advanced education, training and experience and are certified as the best real estate agents in the business.
Sigal D. Waters, CRS