19 Feb Should I Make Repairs Before I Sell My House?

I recently had someone ask me, “I want to sell my house in the Lake Norman area, but it needs major repairs. Should make those repairs before I list my house for sale?”

This is a common question of homeowners who want to sell. Truth is there’s not a one size fits all answer. It all depends on the circumstances. To arrive at the best answer for any situation I would recommend that a seller have an honest conversation with their listing agent about it. That conversation will uncover the details about what’s right for their specific situation.

Many things come into play when selling a home. Arriving at satisfying end result always comes down to the two most basic fundamentals in real estate: the price and condition of the property.

Every market has a price range concerning like for like properties. If a home is free of any defects, appears well maintained, and all finishing’s are current with modern trends, it can be expected to bring a price near or at the top end of the price range for the particular market it’s in.

If it does have defects, the final purchase price will be lower than the top of that range. Just how much lower will be determined by the specifics of the defects it has. If a seller desires the absolute best price for a property, then it’s recommended that all major repairs be completed before listing the property for sale.

One must consider, however, that not all repairs or improvements made to a property will provide a return. Some items such as new flooring or a new roof are viewed as maintenance items and simply bring the home to the expected standard. I can’t stress enough that when considering what should be repaired and what may be acceptable the way it is, a seller should have an honest conversation with their listing agent about it before taking any action.

There are a few other scenarios that can make a situation unique when considering what to repair or improve prior to selling a home. The first is that major repairs can be expensive. Not every seller is in a financial position to make major repairs if needed.

If the seller doesn’t have the money to make the repairs, then any defects need to be made known to potential buyers on the seller’s disclosure. Recall that everything comes down to price and condition when selling real estate. If major defects or needed repairs exist, the property should be priced accordingly.

The other scenario is that a seller may not have the time to make the needed repairs. Several reasons could cause this, such as a relocation due to a job transfer or medical condition. In such scenarios, a seller needs to have reasonable expectations about the final outcome of a sale if major repairs are required.

The bottom line in answering the “Should I make repairs before selling” question comes down to that critical point of having an honest conversation with the listing agent before doing anything. I’ve seen far too many people take action without having such a conversation and regret it later when they realized they weren’t able to financially recover the amount they invested.

This blog post was facilitated through the fastest growing network for real estate marketing, BuildMyAgent.