Many homeowners have an extensive checklist for getting their home ready to sell. Unfortunately, not every project will justify its expense or effort.
It is important to know what not to fix when selling a house, because sometimes it is better to forgoing repairs that won’t help you recoup your investment during a sale. Here are three such repairs.
Paint
Homeowners typically face an extensive list of tasks when it comes to getting their house ready for market. Doing everything possible before selling can quickly become costly when some improvements don’t yield much of a return on investment.
Paint is one such example; while painting a room with vibrant hues might make the room more visually pleasing for you, it could prevent buyers from understanding its true potential.
Painting with a neutral palette can make it easier for prospective buyers to relate to, and new owners might even choose to redo the paint themselves. But it is important to remember that projects that won’t significantly increase curb appeal, livability or aesthetic should probably be avoided; that money could instead go toward repairs that increase value of your home.
Fixtures
Before listing their house for sale, homeowners often consider the list of repairs they must perform as necessary repairs can be extensive and expensive. Unfortunately, not all improvements are worth their cost and time spent; investing in certain renovations may actually decrease its value and prolong selling process; for instance adding a new kitchen or bathroom may increase aesthetic value but is unlikely to return the amount invested back through sale prices.
As opposed to making repairs or making upgrades that won’t significantly enhance the property, focus on upgrades that have the most significant effect. Here are three projects you should not do: 1. Fixing leaky faucets or fixtures 2. Refinishing cabinetry 3. Replacing outdated appliances or light fixtures
Flooring
Homeowners sometimes invest in repairs before listing their property for sale, but not all efforts are worth the expense; sometimes repairs actually decrease in value by more than they add in return.
If a room in which old flooring needs replacing but remains in good condition has never been addressed, don’t spend money replacing it immediately. Buyers might not care as much about these details and could see beyond them into your house’s potential.
Do not spend money to remove and replace outdated cosmetic features such as psychedelic carpeting or out-of-style windows; buyers are more likely to want to personalize their look than be as intrigued with your tastes.
Appliances
Before listing their home for sale, homeowners typically create an extensive checklist. Not every upgrade will increase its value; in fact, some may cost more than they provide an increase.
Though a brand-new kitchen and bathroom will impress buyers, the cost can often outweigh its benefit. Instead, prospective buyers might benefit from being given more freedom in customizing their space themselves through upgrades they choose to add themselves.
Avoid spending money on small electrical and plumbing issues like nonfunctional light switches or wobbly outlets that need to be disclosed as seller disclosure notice items. Buyers will likely address them during their own inspection process or be more inclined to upgrade appliances according to their tastes anyway – ultimately a good real estate agent can help determine which projects are worthwhile versus those left up for consideration by prospective buyers.
Lighting
Home improvements can significantly increase a property’s value, but not all projects should be prioritized equally. Sellers should determine which projects are worth their time and money before investing their resources in them.
Repainting rooms and touching up trim work are great ways to prepare a home for sale; however, installing an elaborate kitchen island or new flooring likely won’t increase its sales price enough to justify such costly investments.
Small electrical and plumbing issues won’t turn away buyers, but may require repair following an inspection anyway. Save yourself both the hassle and expense by disclosing these issues to prospective buyers before they move in; they’ll then have time to plan for these fixes on their own.