Have you been put in a position where you are looking to sell your home but you have deferred repairs over the past couple years?
The sales price of real estate is based on the market and at any given time the market demands more or less money depending on the product being offered.
If your home is in need of a lot of repairs your home will demand a lower asking price, however, if your home is in the great standing condition you should be able to obtain market value or above.
Making the necessary repairs to sell your home for full market value can be tricky and is always a question that has to be answered.
This is because some of these repairs can be very pricey and time-consuming, sometimes you don't have the money or the time before you plan on selling.
They always say that when you plan on selling your home it should be in tip-top shape, but what they fail to realize is that this is not always possible for every homeowner.
Not every homeowner has disposable income to spend on making the necessary repairs obtain full market value for their home.
A good real estate agent will be able to offer you advice as to what repairs to make before selling and what repairs will increase the value of your home.
Every repair that you make, you need to look at as an investment. As we stated your home's full market value in Syracuse NY may be $149,999 but you can only sell your home right now in its current condition for $99,999. You want to make sure that for every repair that you make, you will be making 1-2x the cost when you end up selling.
The following are a few repairs to consider before selling your home in Syracuse NY:
5 Repairs To Make Before Selling Your Home in Syracuse NY
1) Fresh Paint Job
One of the most cost-effective ways to add value to your property is with a fresh paint job. We look at paint like makeup, it can make the ugliest of homes look pretty and it is fairly inexpensive. The ability to hide water marks, old wear & tear, smoke stains and other marks is the reason it is so valuable. If you consider painting your property before selling, keep these quick tips in mind:
Choose neutral colors - These colors appeal to the widest range of potential buyers and give the look of a clean slate for the new homeowner
Nail Holes- If you have miscellaneous nail holes throughout your home, consider using some putty to fill these holes before painting.
Out-dated wallpaper- Even though wallpaper is making a little comeback, this does not mean that your old, out-dated wallpaper is appealing. If this is a problem in your home, consider scrapping off the wallpaper, mudding and sanding areas that need it and putting a fresh coat of neutral color paint over top.
Professional - Are you not comfortable with your ability to paint? If so, consider hiring a professional to take on this task. Typically you will be able to get a fair price on your investment and increase the value of your property 2x during the process.
2) Fixtures & Outlets
Another very cost effective way to increase the appeal of your property and add value to your home is changing out light fixtures, bathroom & kitchen fixtures, outlet switches / covers and light switches and covers. The material for this project will cost you:
Outlets & Switches- 70 cents - $1.25per
Bathroom Faucet - $25.00 - $75.00
Kitchen Faucet- $40.00 - $125.00
Ceiling Fans- $30.00 - $100.00
Ceiling Lights- $10.00 - $40,00
Recessed Lights- $10.00 - $50.00 per
It is difficult to find a fair priced electrician who does quality work, however, if the electrical in your home is in good condition, this will be a fairly simple task for a qualified electrician.
A fair rate to charge for this task will be about $10 an outlet and fixture.
3) Kitchen Repairs
One of the best value add repairs you can make to your home will be found in your kitchen. Kitchen and bathrooms sell homes and your having a nice, refurbished kitchen can add tremendous value to the property. Since this is one of the rooms in the home that will require the most use, make sure that you take care of any problems that will make the kitchen less than usable or relaxing. Here are some repairs to consider for your kitchen:
Door Hardware- Replacing the door hardware on your old cabinets has the ability to add some inexpensive appeal to your kitchen
Refinishing Cabinets- If your cabinets are in rough looking shape but are still functional, consider sanding and painting to give a new refurbished look.
Quick Repairs- Consider repairing any cabinet that is not functioning properly. If these cabinets are in really bad shape, get prices on putting in new cabinets. This goes the same for countertops. If your countertops have chips, consider making necessary repairs clean these tops up.
Faucets/Sinks/Garbage Disposal- These are inexpensive replacements that can give a feel of a newer kitchen to your home.
4) Bathroom Repairs
If kitchens are the #1 selling point for your home, then bathrooms are #2. Having a clean,updated bathroom has the ability to sell your house for itself. These rooms are value added pieces because these are rooms where family members spend a lot of their time. Since you shower and use the sink under high temperatures, the high moisture content can make bathrooms more prone to damage than other areas. Pay special attention to this part of the house and make some quick repairs to make this room a no brainier for the new buyer.
Replace/Repair leaky faucets or vanities
Replace the toilet
Curtains & Blinds make some changes
New caulk works wonders
Grout can help, re-grout your tile
5) Curb Appeal
The first impression of your home to a potential buyer will be of the exterior of the home. The reason, we think adding to the curb appeal can add value to the home is because you can do a lot of the labor yourself. If your home is in rough shape from the outside, your potential buyer may never even take a look at the inside. Here are some inexpensive ways to spruce up the exterior of your home.
Paint Front Door/ New Front Door
New Garage Door
Rack the mulch / Add soft layer of mulch
Trim the trees/bushes
Repair cracks in the driveway/sidewalk
Some more expensive exterior capital improvements are:
Reshingling / New Roof
New Windows
New Gutters/ Soffits
Brand New Landscaping
Wrapping Up|Repairs To Make Before Selling Your Home in Syracuse NY
Selling your home is not as easy as some agents make it seem or sound. If your home is not in a great location, market conditions are not right, your home is not in good / in great shape you can have a very hard time selling your home. This can result in accrued expenses and have your house sit on the market forever and not sell. As we talked about throughout this whole post, there are several inexpensive ways to make repairs to your property that will not break the bank and add value to your property.
However, if you are in a position where you are forced to sell your home in Syracuse NY fast and you do not believe that your home will sell quickly due to the condition or amount of repairs that are needed, contact us. We have an alternative selling option that is very simple and will be hassle free for you and your family.
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