By the time you are ready to sell your home, you are sick of pumping money into repairs and maintenance. Chances are you are ready to move on--preferably to a house that isn't so 'needy.'
Before you paint a couple of rooms, change some fixtures and prepare to list your home, consider why making some of the 'less sexy' repairs is so important.
You will get all types of people through your home when it is listed. Some of those folks will only care about your light fixtures and paint choices, but there will also be those who care about maintenance and will be willing to look 'under the hood' to find out what kind of homeowner you have been.
So despite all that, you go with the 'lipstick on a pig' approach and get a contract on your house. Woohoo...on to settlement, right?
Not so fast.
Almost all transactions, these days, have a home inspection. The home inspector does not give a hoot about your nice paint color. They are looking at the infrastructure of your home. That dry rot your agent pointed out, but you did not feel like fixing? It will matter now. The more items the home inspector puts on the report, the more nervous the home buyer will be about going through with the purchase. In most cases, the home buyer can get out of the contract (with no penalty) or renegotiate the price and terms. The good news, is many choose to renegotiate. The bad news? That is money out of your pocket.
If you were to spend $5,000 in repairs prior to listing, using your handyman, you could save yourself thousands of dollars. How? Most repair addendums will require you to use a specialist. If there are several areas that require a specialist, you will be hiring them and paying their specialist rate (think roofer, electrician and plumber). Often these repairs do not require a specialist (since they are often deferred maintenance), but if you wait until this point, it is a specialist that you will hire.
Be sure to do a thorough walk-through with your Realtor and understand what you need to do to address deferred maintenance. Once you have this list, don't ignore it, get it done and get your home sold!
If you like what you've read, please consider subscribing to my blog by clicking on the Orange RSS button and following the instructions. Thanks!
A GREAT Real Estate experience.
If I can help you, your friends or family buy or sell their next home in Northern Virginia, please let me know!
If you need help with a home outside of Northern Virginia, I have an extensive network of referral agents and will make sure you are working with the best!
The contents of this blog may not be copied or reproduced without the permission of Holly Weatherwax.