You are preparing to list your property and you are facing the dilemma of making repairs or allowing the future homeowner to contend with the "fixing" themselves. For some homeowners, home repairs may not be an option, especially if they find themselves upside down in their investment and facing foreclosure. However, when considering listing the property, one of the biggest question you may face with potential homeowners is, "Do Home Buyers Want Fixers or Fixed Up Homes?"
Some home buyers want to buy a fixer upper home, but generally these buyers want a home that will require light cosmetic repairs. Typically, buyers who gravitate toward fixers are those who either don't qualify to buy a more expensive home or those who want to make a profit by fixing the home themselves. Most fixer buyers are willing to do simple repairs such as paint the walls, put in new carpeting or replace light fixtures, but they usually don't want to rebuild a foundation or move walls.
So what should you do? Well of course, before deciding to make any specific repairs before resale, it is important to be aware of the other homes in the neighborhood that are for sale or have sold recently. This is where I come in. I can show you "comps" in your neighborhood to help you better grasp the price and value that each home has sold or has been listed. Looking at comps allows you to explore the condition and amenities in the other homes, particularly around the most attracted qualities of the homes on the market, such as upgraded kitchens, bathrooms, etc. which can help you better concentrate their efforts.
I am not going to suggest you make a major overhaul and hire a designer to install a gourmet kitchen, unless you choose, but there are some ways that you can tend to some repairs to make your home more favorable on the market. Remember, if a buyer can spot small problems such as an old, musty carpet, then it makes them think of potential bigger problems (and out of pocket expenses).
As you prepare to sell your home, make a list of everything that is defective, broken or worn out. Here are 10 improvements to make before selling your home:
Within a seller's market, you may be able to get away with fewer fix-ups before selling; however, a home that needs repairs will still deliver a lower price. If the market is slow, well.... buyers might not even look at a home that needs work. My best advice, do your best to keep up with your home as much as possible. It is a true investment that can yield you great benefits and wealth.