Having an inspection prior to selling your home will help you anticipate problems the buyer may face and give you the opportunity to fix the problems before they stop the sale of your home. Repairing your home before your home’s sale can save you money in the end. Even if you plan to sell your home “as is,” knowing what to disclose to potential buyers is essential.
Why You Should Repair Your Home Now
You may think that there is no reason to repair your home now that you are selling. You’ve been living with the issues all these years, so why can’t the new owner do the same? However, there are several reasons to fix your home now.
What you don’t fix now will have to be fixed or compensated for later. All buyers will have an inspection made. If the inspector finds big items to be fixed, you will either have to fix them, drop your price, or lose the sale. Many repairs are relatively easy and inexpensive, and no one wants to push back a closing because of a simple weekend project. Fixing your home in a rush prior to closing will also cost more. You won’t have time to get estimates and the contractors helping with the project will charge more in order to squeeze it into their current schedule.
You want your home to be the focus of the sale. If your home’s problems stick out like a sore thumb, the problems will be the focus, and will lead to a lower selling price. Because your home looks fabulous after repairs, you’ll have more people coming through. Since selling your home is a numbers game, the more people that see your home, the more likely you are to sell it quickly and for the right price.
Seven Things You Should Fix Before You Sell
One of the biggest reasons home sales fall through is because of home inspections gone wrong. Fixing these seven things will help you keep this from happening to you.
- Electrical – Most older homes are not made to handle all the technology we currently have. However, rewiring the whole home can get expensive. Check with an expert to find what you can do to make your home more functional. Also, make sure that all electrical fixtures are working properly and safely.
- Plumbing – Make sure that all the plumbing in your home works and is safe. Once again, replumbing the whole house will not be necessary, but toilets and sinks in working order and pipes that are not leaky are a necessity. Also, consider snaking any drains that are slow, and fixing showers that don’t have enough pressure. If you can’t find the problem on your own, have a plumber come in to see what the problems are.
- Roof – Roofs only last 15 to 30 years depending upon the material of the shingles. If an inspector finds that your roof is faulty, you should go ahead and put on a new roof. It will seem expensive, but you will get the cost of the repair back with the price of the house. People hate moving into a new house that needs a new roof immediately.
- Heating and Air (HVAC) – This is essential to the comfort of those living in the house. Make sure your systems are working properly before you put the house up for sale.
- Mold – Mold causes health problems and is usually a sign of a water problem. First, fix the problem that is causing the mold. Once the water issue is solved, remove the mold with a bleach solution made of 1 cup of bleach to 1 gallon of water. If the material that is moldy is absorbent, such as ceiling tiles or carpeting, you will have to throw them away and replace them.
- Asbestos – Asbestos was used in homes through the 1970’s as insulation and as a fire-retardant. However, we now know that asbestos causes cancer and lung disease. If an inspector finds asbestos in your home, have a professional repair it by sealing it, covering it, or removing it.
- Lead Paint – If your home was built before 1970, you likely have led-based paint in your home. If you have lead paint in your home, the law dictates that you disclose this to potential buyers. You cannot paint over lead paint to remove it. You will have to hire a certified lead abatement contractor to remove it or seal it effectively.
Additional Items To Consider Fixing
You are likely to be given a long list of items that need fixing, but not everything on the list needs to happen. In addition to the main systems of electric, plumbing, roof, and HVAC, as well as the issues of mold, asbestos, and lead paint, you might consider the following items. These items are easy to fix and will make a big difference in how your home is perceived by potential buyers.
- Items that are tricky to use – If you have to wiggle, shimmy, or jiggle to get something to work, now is the time to fix it. A potential buyer is not going to find the unusual operation of your kitchen faucet quaint or amusing. People coming through your home expect items to work as they are supposed to.
- Water stains – If you have water stains, remove them immediately. You may know that you no longer have a leak, but water stains signal a leak to those investigating your home.
- Musty basements – If your basement smells musty, then you need to fix it, because a musty basement is a sign of water problems. Perhaps adding a dehumidifier will do the trick. You may also need to seal the walls.
- Unusable fireplaces – Fireplaces are a big draw to buyers, but a big turn-off if they don’t work. Make sure that all fireplaces are functional and have been recently serviced.
- Overhanging tree branches – Tree branches that hang over a home can cause a lot of damage in a storm. Buyers often look to see if the home is clear from these kinds of dangers. Hire a professional tree service to remove any overhanging branches.
- Unsafe stairwells – Make sure your stairwells have the right features in place to make them safe. This includes fixing or installing handrails, having a light at the top and bottom of each staircase, and firmly attaching any carpeting on the stairs.
Beyond The Inspection
Sometimes a little remodeling will also help with the sale of your home. If you are already making a few repairs because of your inspection, you may also want to consider a few updates at the same time. If you have carpeting, replace it with a neutral color. If you have hardwood floors, refinish them. If you have tile flooring, replace anything that is broken.
Additionally, painting the walls is a great way to spruce up your home for very little money. Be sure to paint your walls in a neutral color. Remodelling the kitchen and bathrooms if they’re outdated is also a good idea, and studies have shown that you will recoup the cost of your remodel 100% at the time of your home’s sale.
Timing Is Key
Make sure that all these repairs are completed before you put your home on the market and before you have a real estate agent price your home. Once all the projects are completed, your home will show better and be able to fetch a larger price.
If you want to sell in the spring and summer, the best time for home sales, then you will want to have your home inspection in the early fall so that you have plenty of time to make the repairs before putting the home on the market. This will also give you time to save the money needed to make the repairs.
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