Are you looking to sell your home? Don’t sweat the big renovations; instead, I want to tell you why small repairs make all the difference when selling your home.
To illustrate my point, I purchased a property a while back that was up by Mill Creek, and it was in bad shape. Even though it had a ton of problems, I decided not to do all the repairs. Instead, I replaced the furnace, painted it, and replaced the broken windows. These may not sound like tiny repairs, but the property probably needed $80,000 worth of repairs while we kept it to $10,000.
When we put the property on the market, I only had to make three phone calls before I was able to sell the property for a great price. I fixed the glaring issues and presented the buyer with a blank canvas so they could do whatever they wanted. I have a long history of selling homes, and I can confidently say that something like painting your home or putting in new carpet will go a long way. Let me go over a few reasons why:
- Small repairs increase perceived value. Have you ever gone into a car dealership or model home and noticed how nice everything is? It’s because they maintain their inventory. Small repairs give your home the same feeling.
- Small repairs help with the inspection. Even a highly motivated buyer will be turned off by a huge list of repairs. If you fix the small stuff yourself, the inspector won’t find as many issues, and buyers will be more likely to close on the home.
- Small repairs have a great return on investment. I can give you example after example of $1,000 worth of repairs bringing in an extra $10,000. It’s because you aren’t just adding value to your home; you’re marketing it better. People are busy, and they don’t want to waste their time making tiny repairs all over their new home. Putting a move-in ready property on the market gives you a huge leg up over the competition.
If you want more information about the psychology of home buying, good repairs for ROI, or any other selling advice, please call or email us. We are always willing to help. Happy selling!