Getting The Most for Your Property
Moving a property can be a long process that’s complicated, daunting, and disappointing. People will look at what you’re selling, then disappear never to be seen again. Sometimes there are bidding wars, and the winner backs out at the last moment.
While the present market is absolutely unpredictable, with a market bubble burst coming soon, the time said market implosion will happen is unknown. If you’re going to maximize potential property value, you’ll want to be sure you’ve got every issue you can fix.
However, some things are more worth your while than others. If the only money you get in return for a repair is precisely what you spent, you would have done better just to subtract the cost of such damage from your asking price. The result would’ve been the same.
So with that in mind, we’ll cover a few things you’ll definitely want to get fixed if you’re looking to sell a house swiftly, and at its maximum possible value. Certainly there are other things to think about as well, but the following five are going to apply to most homeowners.
1. Landscaping: Curb Appeal And First Impressions
One of the most important features of your home isn’t even inside the property. It’s the exterior veneer of the house you’re selling. Landscaping can add tens of thousands in value to property value. If you have neither the time, inclination, or resources to effect full landscaping on your property, you should at least clean things up.
If you can’t get the lawn right, rip it out and add river rock or wood chips. Make a little pathway up to and around the one bush or tree in the yard.
A better idea is keeping your yard as pristine as possible. It takes a little to get the ball rolling, but once you do, it’s just a few little weekly chores. Maybe you water the plants once a day and take ten minutes to do so.
2. Honey-Do’s: Loose Wiring, Bulbs, Wall Patches, Etc.
Sometimes wiring is sticking out from where an appliance was hooked into the power grid of the home. Sometimes you’ve got lightbulbs that are out. Sometimes the walls need repainted or patched. Make a list of what are known as “honey-do’s”.
These will be on the outside and the inside of your house. Fix them one at a time as you have opportunity to.
3. Finishing the Basement, The Attic, And Anywhere Else
Exposed wiring or plumbing in the basement needs to be fixed. An unfinished basement tends to be pretty cost-effective to get taken care of, especially if you go the Do It Yourself (DIY) route. You can tile the floor or use LVP (Luxury Vinyl Plank). Carpet or wood flooring is also an option; wood is better than carpet, LVP is easiest.
Sheetrock is difficult, but tongue-and-groove wood looks beautiful and it’s very simple to install. Once you install it, you can apply stain and polyurethane, voila; your basement looks like a mountain lodge in some haute resort along Colorado’s front range.
Do the same sort of thing for your attic. If you’ve got some bedroom you’re remodeling, be sure you finish it, and generally assure the house has a “finished” veneer to it before you sell. Even properties with minimal value tend to be more salable in such situations.
4. Plumbing Issues: If You’ve Got Them, You Must Fix Them
While a hot water heater leaking into a pan isn’t a big deal, and the heater can be replaced, savvy buyers will immediately question whether structural integrity was impacted prior to the leak. Water damage is incredibly expensive to repair.
If you notice it, fix it quickly. If it nearly got away from you, repair the problem as best you can. Don’t leave anything dripping when a potential buyer comes to examine your property.
5. Flooring: Fix Up Old Floors as It Is Possible for You to Do
Flooring was briefly alluded to regarding the basement earlier. Well, let’s look at dining rooms, kitchen, “family rooms” and living rooms. Do you have carpet? Rip it up and replace it with LVP; that’s the easiest solution.
You can clean up any mess beneath the carpet, you’ll get rid of smells, and your home will suddenly have the veneer of remodel about it.
A Robust Return on Repair Investments
There are a lot of repairs you could or should make as you go about preparing your home to sell. Generally, you want to fix up the floor where it’s got issues, or where you know something like LVP would be better than carpet.
Also, assure you get any plumbing problems rectified, finish any unfinished areas of the home, do all the little honey-do’s, and landscape. A home that looks good inside and out will command a higher price on the market.
Right now, home sellers are getting a lot more money than they have for similarly-valued properties in recent years; list your home high and fix things up as buyers come. Generally, you want things fixed prior listing, but the market is wild right now. So position yourself for best results.