Moving can be an exciting time in your life! Sometimes, the process of moving can be complicated as you have to figure out how to sell your old home, ideally make a profit, and buy a new home.
If you want to sell your home but feel the need to fix it up, read this article first. Our list of do’s and don’ts written by home-selling experts provide you with an excellent guide before you start tearing down walls!
Is It Worth Repairing My Home Before Selling It?
You may be asking yourself if repairs are worth investing in before selling your home. It is a good idea to consider the risks and rewards before deciding. Remember, you might not need repairs if you want to sell your house as-is.
Market Volatility – The first thing you want to consider is the market. If the market is quiet, many people are not buying homes, so you can either just do basic repairs or not even worry about them. However, when the housing market is booming, consider beyond the basic maintenance to please buyers compared to your competitors.
Other things you will want to consider before deciding on whether to repair or not are the timeline of the repairs, the budget you are on, what upgrades you are considering, and your approach with these repairs, whether that be through a contractor, real estate agent, or doing them yourself.
Overall, renovations are costly but might be worth it if you plan to enjoy the upgrades yourself before selling as well. Another critical thing to consider before deciding on renovations is the return on investment, or ROI for short. According to Business Insider, return on investment is “the financial ratio used to measure the profitability of an investment relative to its costs”. If you spend more on renovations than you get in return for the home, avoid investing in certain repairs and renovations. Also, beware of the risks of high or unfair pricing, bad contractors, and further damage to appliances.
What to Fix When Selling a House?
This list provides essential things to look into before selling your house to make your home look more presentable:
- Paint- touching up scratches or scrapes with a fresh coat of paint or an updated color could emphasize the rooms in your home
- Kitchen – changing the appearance of the kitchen to make it more modern and spacious will grab the buyers’ attention
- Bathroom – replacing the toilet, sink, floor, wallpaper, and tile will make the bathroom look clean
- Floors- think about hardwood or rugs that would be preferable to buyers (especially with the look of the home)
- Electric- fixing old wiring, exposed wires, electrical service panels, light fixtures, circuit breakers, outlets, and light switches would be good in case of safety hazards
What Not To Do When Fixing And Selling A Home?
Not everything in your home needs to be fixed as your return on investment may not be worth it, so here is a list of things to let alone:
- Minor plumbing issues
- Minor electrical issues
- Small cracks in the driveway or sidewalk
- Older appliances
Selling A House For Cash
Many companies are willing to take your home off your hands for cash, saving time and money without getting lenders or worrying about loan approval. Other benefits of selling a home for cash include not needing any repairs, closing deals faster, and saving money from the additional fees that come from selling a home.
Putting effort into your house is a great way to attract potential buyers and make yourself look good as a seller. Using some of these tips, you should sell your house with ease!
If you want to learn more about selling your house for cash as-is, visit House Guys to get an instant cash offer on your phone!