When preparing to sell your home, making the right repairs can significantly increase its value and appeal, leading to a quicker sale and potentially higher offers. Here’s a list of the top 10 repairs worth considering before you list your home. If you’re not sure whether a repair will be worth the expense, call your agent - you don’t need to wait until the sale. Real estate agents are experts and they know what buyers want. We can help you every step of the way.
1.Fix Structural Issues
Addressing any structural defects like foundation cracks, sagging floors, or roof issues is crucial. These repairs are often necessary for passing inspections and will reassure potential buyers about the home’s condition. Generally, not fixing structural problems can lead to a decrease in the home value far exceeding the cost of the repairs.
2. Upgrade the Roof
If your roof is nearing the end of its lifespan, consider replacing it. A new roof is a huge selling point and can dramatically increase your home’s marketability and price. At the very least, replace missing shingles and fix leaks. In some cases, replacing the roof can recover 100% of the expense. Not only that, but insurance companies are getting tougher and many won’t insure a roof over 10 years old.
3. Repair Plumbing Issues
Leaky faucets, running toilets, or a malfunctioning water heater should be fixed. Minor plumbing repairs are generally low-cost but essential improvements. They can prevent potential issues that might deter buyers, such as leaks or outdated fixtures, from affecting their decision. While the specific return on investment (ROI) for minor plumbing updates may not be explicitly documented, addressing these issues before selling can contribute to a home’s overall perception as well-maintained and move-in ready, which is highly attractive to potential buyers. This approach ensures the home does not present any immediate red flags during inspections that could hinder a sale or reduce the offer price.
4. Electrical Upgrades
Ensure all electrical components are up to code. Replace outdated wiring, fix or replace light fixtures, and ensure all outlets function properly. This not only helps with inspections but also enhances home safety. Like minor plumbing fixes, electrical repairs demonstrate are and basic home maintenance.
5. Interior Painting
A fresh coat of paint is one of the most cost-effective ways to freshen up your home. Stick to neutral colors to appeal to a broader range of buyers. This simple update can make your home look cleaner and more attractive. This one fix is probably the most common because it is easy and has the highest ROI - refreshing your home with paint generally returns 107% of the cost - or more.
6. Update HVAC System
If your heating, ventilation, and air conditioning system is old or unreliable, consider replacing it. A new HVAC system is a strong selling point and ensures buyers they won’t face immediate, costly repairs. At a minimum have it serviced. Buyers will look for service records and last service date.
7. Refinishing Hardwood Floors
If your home has hardwood floors, refinishing them can remove signs of wear and tear, making the space look inviting and new. This is particularly effective in older homes where the charm of original floors is a key selling point. Not only that, but with an average ROI of 147%, this is one fix worth doing.
8. Revitalize the Kitchen
Kitchen updates can yield a significant return on investment. You don’t need a full remodel; even small updates like replacing cabinet hardware, updating an old backsplash, or installing new countertops can make a big impact. Minor kitchen remodels can yield about 67% ROI, with updates like new sinks, refrigerators, and pantry spaces being particularly effective. While that may not seem worthwhile, the cost of a kitchen in need of repairs is hard to quantify - kitchens and bathrooms sell homes and for good reason. These are often the spaces buyers have the most fear or renovating.
9. Refresh the Bathrooms
Like the kitchen, bathrooms are a focal point for buyers. Re-grouting tile, replacing faucets, and ensuring all fixtures are in good condition can boost your home’s appeal. Consider updating lighting fixtures to brighten the space as well. Moderate bathroom remodels can offer around 64% ROI, making them a worthwhile consideration for enhancing property value and like kitchen remodels, the worse the bathroom is in the first place, the more it will enhance your sale price to upgrade it.
10. Enhance Curb Appeal
First impressions are crucial, so don’t overlook the exterior of your home. Simple fixes like power washing the siding, painting the front door, and maintaining a neat, attractive landscape can make a great first impression. Larger projects can also have an effect. Painting the home’s exterior can be quite beneficial, with an estimated ROI of 152%, significantly enhancing curb appeal.
Before listing your home, investing in these critical repairs can make a substantial difference in how quickly your home sells and for how much. Not all repairs are equal in terms of return on investment, so focus on those that solve fundamental issues or significantly enhance the home’s aesthetics and functionality. With these upgrades, your home will be poised to make a great impression on potential buyers.
And never fear, if you’re not up to the task or don’t have the budget for repairs, we can still help you get top dollar for your home.
Not sure where to start? Schedule a free in home staging consultation today.
With over 20 years in the business, we know what buyers want and can help you decide which projects are worth your time and which won’t net you more.