Monday, July 16, 2012

What Update or Repairs Should You Make Before a Home Sale?

Are you curious about the essential updates or repairs you should make before you sell a home?  Most sellers choose to paint, fix flooring or update the fixtures. All are great relatively easy ways to get it ready for a sale.

If you choose to update, remember most remodels only give you a 70% return on investment, however your home will sell much faster after most updates. The best updates are in the kitchen, bathroom and living room areas.  Add granite/silestone/corian countertops if your cabinets are in good shape.  Add hardwood flooring if your budget allows.  It trumps carpeting every time.   Add only middle of the road reliable kitchen appliances.  You will never get the money you invested out of a new Viking range or a Subzero refrigerator.

A homes functionality is what is important, not the square footage. If possible add a needed extra bedroom/bathroom, garage stall or a four season porch.  According to the National Association of Realtors your giant kidney shaped pool, topiary garden or state of the art home office will bring you very little return on your investment when you go to sell your home.

As your Realtor I highly recommend all repairs.  Did you know that Buyers will not be able to qualify for financing  (FHA, government loans) without  the necessary repairs done to the home?

Here is a must do list of repairs:
1. Chipping, pealing, or flaking paint. Also rotting wood.
2. Defective electrical outlets.
3. Plumbing leaks.
4. Non- functional heating or AC
5. Roofs with less that 2 years of life.
6. Missing or badly damaged floor coverings.
7.  Obvious structural problems.

You have to spend money to make money. When selling your home it is important to spend the money on the right things. Repairs are as important as updates, and make sure you update your home with a focus on what buyers are looking for.  Call me for a consultation.  I will be happy to help you decide what updates or home repairs to do before putting your home on the market.