Selling This Spring? Here's What Needs To Be Repaired Before Your Home Goes On The Market
After years or perhaps decades of living in your home, we all become a little blind to its quirks and may have learned to ignore any updates that need to be made. It happens to everyone; the day-to-day demands take priority over starting any home projects. If you’re getting ready to list your home this Spring, it’s important to prioritize the most pressing updates and repairs. How do you know where to focus your time and resources?
Here are some of the most common issues a potential buyer will want to be addressed.
Basic Safety Issues
Home inspection reports will note any missing smoke detectors or carbon monoxide. Luckily, these are inexpensive to purchase and won’t require any major repairs. Another common pain point is old outlets. GFCI outlets must be present in any room with a water source, which many older homes do not have.
Roofing
Buyers are easily spooked by roofs that are over 20 years old. Understandably, a large chunk of their savings will be depleted by purchasing a home, and it could scare anyone to know that they may need to invest in a roof upgrade within the next five years. Fix any present roof leaks and ensure that it is properly insulated.
Rain Water Drainage
Surprisingly, many homes don’t have gutters installed. This can be a very large issue for homes with basements, as it could lead to serious basement leaks in the springtime. Investing in gutters can do wonders for putting potential buyers at ease. If your home has gutters, ensure they’re well-cleaned and maintained. Spouts should divert water at least four feet away from the foundation of your home.
HVAC
Many midwestern homes have furnaces or boilers that require regular service and maintenance. When properly maintained, furnaces should last 20+ years. Call your local HVAC professional to perform annual maintenance on your boiler or furnace. This will be a feature that your realtor can mention to buyers' agents and will go a long way toward putting potential buyers at ease. The last thing a new homeowner wants is a furnace that goes out on the first winter in their home.
Remember, You Are Not Alone
Typically, when you begin working with a real estate agent, they’ll walk through the property you intend to sell. You can ask them for their professional opinion of where you should invest money on repairs.
Be prepared for them to have suggestions in regard to cosmetic updates that might help sell your home. Common cosmetic updates might include:
Additional lighting to brighten up a space
Painting in more neutral colors throughout the home
Decluttering and/or investing in a professional cleaning service
Investing in landscaping updates (new mulch, trimming trees, etc.)
Related Reading: Home Upgrades With A High ROI
Why Make These Repairs Before Showing Your Home
If you’re aware of any major or minor issues in your home, you are legally required to disclose that to your real estate agent, and buyers will have access to that report. If there are issues in your home that you aren’t aware of, they will come up during your home inspection. If you can anticipate any repairs that need to be made before selling your home, you might be able to escape a lengthy and complicated negotiation process with a buyer. Your home may sell for the asking price or above when there are no major issues present. Therefore, investing a small amount of money and time in repairs before listing your home could ensure a smooth and successful selling process. Preparation is everything!
We’re wishing you a successful Spring and the sale of your home! If you’re hoping to purchase a new home at the same time as you sell your current home, please feel free to reach out to Imagine Home Lending with any questions that you may have about financing your next home!