The home selling process can be stressful. If you don’t know what not to fix when selling a house, you may spend too much money fixing minor issues. As a result, you’ll lose money if the profit you expect is less than your investment.
Without a doubt, a house in good condition has a higher selling price than a house that’s not. However, many homeowners make unnecessary home repairs hoping to make more money. Unfortunately, these homeowners make a loss instead of making a profit.
We have come up with a do not fix list because we understand how challenging it can be for an average homeowner to know what not to fix when selling a house.
These unnecessary repairs include cosmetic issues, minor electrical issues, old home appliances, and removable items.
Cosmetic issues
In most cases, cosmetic damage can be easy to fix. Cosmetic damages can be broken light fixtures, a front door that needs a fresh coat of paint, walkway cracks, and scratches on hardwood floors.
Be careful not to fix cosmetic damage and replace it with what you think is currently popular. Instead of helping you sell quickly, a potential buyer who doesn’t like the trend may lose interest in your house. So suppose you choose to add a coat of paint to your home; you should consider neutral colours.
However, leaving cosmetic problems the way they are is not bad; it helps you save money. A cosmetic issue is not a potential hazard and may not drive buyers away.
Minor electrical and plumbing issues
Some electrical issues are safety hazards and require you to attend to them before placing your house on the market. These issues include old wiring and exposed wires.
However, don’t spend money on minor plumbing and electrical issues such as dead outlets, dripping faucets, and light switches. Don’t worry about these issues because the inspection report won’t tell the buyers about a broken light switch.
Old home appliances
Having broken or hardly functioning old home appliances can damage your home sale. You can make your home sell faster by buying new appliances before putting your house up for sale.
Even better, you can purchase functioning used appliances instead of new ones. New appliances may cost you top dollar, and most prospective buyers will believe you always had these items in your house.
Removable items
Instead of replacing old items, you can also remove them before selling your home. You can also take the removable items, such as curtain rods if they have space in your new home.
If the removable items are broken or worn out, don’t leave them behind. Getting rid of old removable objects before selling your house may make your asking price reasonable to most buyers.
Frequently asked questions (FAQs)
Do I need to consult a real estate agent before I fix the house?
Yes. Consult an experienced real estate agent before making a significant renovation and request a comparative market analysis(CMA). Home selling is a competitive market, and the CMA will give you information about the selling prices of other comparable homes.
Real estate agents have experience with market conditions and can advise you on what repairs you need to implement. It’s in the interest of the real estate agent to make your property impressive to potential buyers while ensuring the cost of home improvements is not unnecessarily high.
Before putting your home on the market, ensure it’s clean and has good curb appeal. Remember, you only have one opportunity to make a first impression with potential buyers.
Does curb appeal help attract potential buyers?
Curb appeal is a term that describes an overall attractiveness of a property to buyers. Paying attention to the curb appeal convinces buyers you’ve been taking good care of the house.
Should I stage my home to attract prospective buyers?
Yes. Staging your home before putting it up for sale helps you sell it quicker. An experienced real estate agent will recommend staging for its cost-effectiveness.
What are the costs of selling a house in Victoria?
If you are trying to find out the costs of selling a house in Victoria, there is no definitive answer as each house will be different. However, in total, you can expect to pay anywhere from 5% to 10% of the sale price of your property in selling costs. This is in addition to the capital gains tax that you may have to pay on the profit from the sale.
Conclusion
In most cases, you may not need to make any repairs to sell your home at the price you need. It’s essential to consult an experienced real estate agent when you want to sell your house. A real estate agent will offer you professional advice when investing in repairs before the home sale.
