Fixing to Sell? Ask these 5 questions before spending money.

Imagine walking up to a home that you are considering buying; The first thing you notice is that the roof shingles are curling. Then you walk up to the door and notice the paint on the front door is chipped and peeling. What kind of first impression would you have of this home?

I am commonly asked by my seller clients if they should put the time, effort and most importantly money into their home or to simply price it well and sell it as is. I decided to write this post to help sellers easily make the decision to fix or to not fix.  Most times a small investment on your part will result in a quicker sale, more positive feedback and hopefully an great offer (or maybe even multiple offers if you’re lucky!)

Obviously, there are few people who wish to spend a lot of money on their home in hopes of getting it back when it sells; however, you must look at your home through the eyes of a prospective buyer. I can assist with this process, bringing fresh eyes to your home. As home owners, we get used to certain things in our homes that have “always been that way” or “aren’t that bad”. Let me give you some guidelines that will help you determine what to fix in your home by asking yourself these helpful questions;

1. WIll the repair make my home show better and will it be more appealing to prospective buyers? Obviously you want the overall impression of your home to be a positive one. You don’t want little things that add up to a big list of things to deter buyers from making an offer on your home.

2. Are you looking for a quick sale? Homes in good-repair that are clean and freshly painted typically sell quicker than homes that are needing “fixing up”, even if it’s only cosmetic fixes. The goal is for potential buyers to see themselves living in your home. Sometimes bright and bold paint colours that don’t appeal to the masses cause buyers to be on the fence about a property. We have literally seen homes on the market that are not selling be taken off the market and painted in a neutral tone throughout to be re-listed and sold within a number of days. Newly painted walls, ceilings and trim can brings a freshness to a home of any age.

3. How does your home measure up to the competition? Is the current state of your home typical for the area and desired asking price? For example; If the majority of homes listed in your area require new shingles you may wish to price your home similarly to the others or have a competitive edge and replace the shingles on your home. Our bet is home buyers would choose your home over the competition even if they had to pay slightly more.

4. Is the cost of the repair inexpensive? There are many “almost free” fixes which I would always recommend doing. Home buyers love turn-key properties and the little things that can be taken care of prior to selling will only help you get the most money for your home in the shortest time frame.

5. Would the item needing repair be a deal breaker to a potential buyer? As an example; if your home had a few foundation cracks that could prove to be a deal breaker for some buyers. As a seller you could hire a foundation repair professional to inject the cracks and provided a transferable lifetime warranty for the work which would provide peace of mind for the new owner.

There are certain things that should be on every home sellers list when preparing their home for today’s market. These things will cost very little but make a huge impact! Some of these listing basics are; a coat of paint, de-clutter, de-personalize, clean (magic erasers are a great tool when it come to deep cleaning), steam clean carpets, organize, replace burnt-out light bulbs, and ensure all caulking around the sinks and tub is in good shape. The effort you make in preparations for the market will make a great impact and from our experience cleanliness sells!

The bottom line is, homes that are in need of repair might set off red flags and give a false representation of the level of care to potential home buyers. You do not want people to think that the house had been neglected.  For example, a leaky faucet might lead the potential home buyer to believe the home has not been maintained in other areas as well. Simply put, if you are fixing to sell then our recommendation is to attract as many buyers as possible with a clean, well maintained property.

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