Selling a home can often be a daunting prospect. Although you’ll obviously want your home to sell for top dollar, there is nothing you can do about the dynamics of the local housing market. Selling at the right time, when demand exceeds the supply of houses on the market, means you’ll be able to ask for a higher price than if you sold when the market was slow. Still, the market isn’t the only factor that will determine your home’s selling price. While there may not be much you can do about the housing market other than trying to sell at the right time, you can still boost your home’s selling price simply by making sure it’s in good shape before listing it. Not all repairs you make will pay off, but there are a number of important remodels, repairs, and other home improvement projects that will provide a good return on your initial investment. With this in mind, here are a few of the most important repairs to make before selling a home.
Repairs to Make Before Selling a Home
1. Siding and Exterior Repairs
The exterior of your home will be the first thing potential buyers see, which means you should put your best face forward. In this sense, replacing your siding, painting and repairing your trim, and making any other minor cosmetic changes and repairs can make a huge difference in the total selling price. Not only that, but sprucing up your exterior also gives you a much better chance of attracting potential buyers in the first place.
2. Bathroom Remodels
Homeowners who sell soon after remodeling their bathroom typically recoup 86.4 percent of the total remodel cost, which means you’ll usually get at least most of what you spent back. However, in a hot housing market, this number often rises to well over 100 percent, which makes a bathroom remodel one of the smartest repairs to make before selling a home.
3. Interior Paint
In most cases, repainting your home’s interior will be neither all that expensive nor take too much time. Nonetheless, the monetary rewards you can get from a simple paint job are actually quite huge. This is especially true if your home’s interiors look a bit old or outdated, as nothing can update a home quicker than a fresh coat of paint. Choosing a light or neutral color scheme can also help increase your home’s appeal.
4. Redo Flooring
Hardwood floors have huge appeal, which means it’s well worth considering tearing out any carpets that are hiding wood flooring underneath. Of all the possible repairs to make before selling a home, this is one that can provide the biggest benefits with the least effort. If your home already has hardwood floors, you will want to have them refinished before selling. Also, it’s usually a good idea to replace any carpeting that is more than a few years old, especially if it’s stained or well-worn.
5. Kitchen Remodels and Improvements
As with bathroom remodels, kitchen projects will typically provide almost a 100 percent return on your investment and much more in a hot housing market. Still, it’s important not to go too far because many high-level additions will diminish your return. This means focusing more on things like refinishing or replacing your cabinets and installing new countertops, faucets, or flooring.
At the end of the day, the market will still play an important role in how much each of these repairs will actually raise the price of your house. This means that it is important to carefully consider any repairs to ensure that they’ll actually pay off. It would also be wise to speak with a real estate agent to learn more about what buyers in your area are looking for and how much they’re willing to pay.
Cowan Inspections Group offers inspection services to the greater Salt Lake City area including Pre-Listing Inspections for home sellers. Use our online request an appointment form and we will be in touch soon!