Many people feel nervous and anxious about putting their house on the market. They are exposing their personal space to any qualified buyer that wants to see it. Often sellers want to create the impression that their home is perfect. Well, putting a lot of money into fixing up your home before selling can be a waste of time and money. So which repairs and upgrades are worth it?
Before looking at the specifics of what not to fix, it is essential to recognize that a couple of variables are at play. First is the neighborhood. Even if you have recent upgrades and high-end finishes, the sales price of your home will be limited by the comparable homes in your neighborhood. Second, consider the state of the market. If we are in a seller’s market, you, as the seller, have the advantage, so you don’t need to spend as much time on upgrades. However, if we are in a buyers market, you will want to put more time and effort into fixing up your home, so your home stands out. Okay, now let’s move on to what you don’t need to fix before selling your home.
1. Flooring
Do not bother replacing the flooring. This can be very expensive and the future buyers might want something completely different. If you replace the flooring before selling, you will not see a return on your investment. If you have carpet, I do suggest having it professionally cleaned.
2. Countertops and cabinets
Replacing countertops and cabinets in the kitchen and bath can be very expensive, and you will not get a good return on this investment. Just like I talked about in my last video, consider replacing the knobs and faucets instead. Also, replacing just the countertops or just the cabinets might cause your kitchen or bath to look unfinished. An unfinished room might even look less appealing to a buyer.
3. Roof
Unless your roof is leaking or caving in, it is not worth getting this fixed before selling.
4. Driveway or sidewalk cracks
Potential buyers will be able to see beyond driveway cracks. Instead of repairing cracks, focus on curb appeal with your landscaping and light fixtures or even painting your front door.
5. Windows
New windows can add visual appeal and make your home more energy-efficient. However, the expense of replacing all your windows is not usually worth it. Now with that said, many buyers are looking for a home that is turn-key and move-in ready. So if the windows are very drafty or inoperable it may be worth considering replacing them.
Another thing to remember is that people buying your home will likely have a home inspection done once you are under contract. At this time, you can find out what is important to those buyers. Maybe they want a more energy efficient home, or a home with newer carpet. Based on what those buyers want, you can decide if and where you need to spend money. This is something your real estate agent will help you negotiate. ln the end, you may find the buyers are happier with a credit so they can pick out their own upgrades.
Remember, before tackling any big project, I recommend talking with your real estate agent. They can look at your home and run some comps to determine if updating makes financial sense. Now, what DOES make financial sense? Watch my next video to find out the #1 upgrade when it comes to selling your home for the most money.