It’s time to sell your home and, let’s face it, the place could use some TLC. But how much time and money do you need to invest in fixing things up to get top dollar on your home?
Before spending a dime, consider these questions suggested by Houzz:
- What is the condition of comparable homes to yours? Google to find other homes for sale in your neighborhood, and study the pictures available. How do these homes compare to yours? “Are the kitchens updated? Are the floors in good shape? If all of the other homes you see have a certain feature (for instance an updated kitchen) that yours lacks, consider making that a priority [to fix],” notes Houzz.
- Will it look like you haven’t cared for the home if you don’t fix it? Certain items can be red flags for buyers, including leaky faucets, cracked tiles, broken appliances “or anything else that doesn’t work as it should.”
- Can you fix it relatively inexpensively? Think about how to make things look fresh without breaking the bank. For example, if your kitchen looks outdated, consider painting the cabinets, updating the cabinet hardware and/or buying new appliances—“something current and functional but not top-of-the-line,” suggests Houzz.
- How much will you have to lower the price without fixing it? The answer to this isn’t as simple as adding up the cost for repairs and deducting that from the asking price; you also need to consider the time and effort buyers will have to invest in shaping things up. “[B]uyers looking for a fixer-upper will also be looking to discount the selling price for the repairs, plus the hassle,” notes Houzz.
- Will it spoil a buyer’s first impression? If it’s one of the first things a buyer sees when coming to your front door and entering the house, don’t pinch pennies; fix it. First impressions count.