When preparing to sell your home, you may see a lot of information about what kind of repairs to make and the importance of repairs. But not every home needs the same repairs, and if you have kept up on maintenance, you may be wondering if there is anything that you actually need to repair your home. In order to decide what to repair, you need to understand why there is such a focus on making repairs.
What People Repair
The most common repairs that you will see people advertise are the really big ones, such as the roof, HVAC system, or plumbing. They may also advertise that they have renovated rooms or redone the landscaping within the last few years. In addition to these major repairs which increase the value of a home, many people will also replace flooring, spackle holes and paint walls, and perform other minor maintenance that helps a home feel fresher and makes the home more of a blank slate.
The Cost Benefit of Repairs
No matter how well you have kept up on maintenance, there are always things that can be done to improve your home, but that doesn’t necessarily mean that you should do them, even if you have the money for them. When deciding which improvements to make to your home before listing your home, you need to consider the cost-benefit that these options have. Compare the cost of the repair, including materials, time, and labor expenses to the amount of value it will add to your listing price. Unless it brings in substantially more money than it costs, you probably shouldn’t worry about it.
When to Sell As-Is
If you don’t want to make repairs, you can simply sell your home as-is. This is a great option, especially if the repairs needed are extensive, or beyond your financial ability. However, as-is homes that need a lot of work tend to struggle in the traditional real estate market. But that doesn’t mean you are doomed to watch it sit for months or that you have to settle for less than your home is worth. Cash home-buying companies will buy your home as-is, and they will still pay fair market value. When they evaluate your home, they take into account the cost of repairs needed, but they also make sure you have a fair offer.
Rather than diving in headfirst and hoping that your repairs will pay off, make sure you are using your time and money wisely. If you do decide to make repairs, make sure to do them properly and involve any needed professionals. Botched repairs are worse than no repairs.
Want to learn more about the difference between a traditional sale and selling to us? Click here to see the comparison!