Should You Repair Your House Before Selling?
If you intend to sell your house soon, you’ll need to decide what to fix or replace beforehand. Around seven out of 10 homebuyers seek dwellings that don’t need any major repairs, according to a recent survey. Some people still look for “fixer-uppers,” but renovations would help your home appeal to many more potential buyers. You may be asking yourself if you should repair your house before selling.
If your house has significant flaws, more people are likely to look at the property without making offers. A sale may fall through after the buyer reads a professional inspection report, and banks could refuse to approve mortgage applications if the house is in poor or dangerous condition. These problems will slow down the process.
Things to Fix
At a minimum, try to complete multiple small, inexpensive repairs. A homebuyer who is willing to accept one major defect might get discouraged if there’s also numerous minor flaws. Several small problems could combine to create delays and reduce the selling price by thousands of dollars.
Understandably, it’s difficult to perform major repairs if you don’t have a lot of extra cash. One option is to take out a home equity or improvement loan. Some equipment installers directly offer financing for things like heating systems and roofs. You’ll need to have a sufficiently high credit score.
If borrowing money isn’t realistic, you could expedite the selling process by openly disclosing the problems and offering your house “as is.” An alternative is to promise that you’ll complete a major repair when the home sells. This still deters some buyers, but it reduces the level of risk for the seller.
The right choice differs depending on the condition of your house, its potential value and your budget. If you need help with repairs, please contact us today. Our skillful and friendly staff works to promptly fix a wide range of problems at affordable rates.