For buyers, home inspections are a common part of the real estate transaction. Buyers want to be sure that they’re buying a home which has working appliances and thus avoid costly repairs. It’s often a pre-requisite, before any final signatures go on the purchase agreement. Typically, this includes things like air conditioning, electrical, plumbing, heating system, roof, and foundation, among other things.
For sellers, investing a bit of time and money into these things can make a big difference when selling their home. Ensuring that everything is in working order, will mean fewer delays in finding a buyer and closing a sale. Thankfully, most of these repairs are not very costly and can even justify an increase in your asking price, depending on the level of the improvements.
Here are the main areas that you should focus on, when putting your home on the market:
Curb appeal refers to how much the outward appearance of a home can entice prospective buyers to arrange for a showing. This is what exterior is all about and it really doesn’t call for anything drastic. A new coat of paint, a bit of landscaping and a welcoming looking front door, can work wonders. Of course, you also shouldn’t overlook other less obvious things like the state of the roof and the gutters.
Likewise, interior repairs don’t have to be drastic but it’s really up to yourself how far you want to go. Start by decluttering your home, so it looks more orderly. Apply new coats of paint where they’re needed and fill in any cracks or missing plaster. If you have any carpets they should be deep cleaned by a professional service company.
If your electrical or heating system is a little outdated you should have them serviced or even replaced, if necessary. Any inspections by a professional inspector will be sure to turn up any problems with these, if there are any.
This is the area that makes for the largest costs and is really only justified, if you’re not planning to sell for another 2 to 3 years. Still, nothing can help you boost your asking price like an updated kitchen and bathroom. It’s always helpful to hire professional designers for helping with this, as they typically know what buyers are looking for.
Even if you’ve made all the necessary repairs, you should still have a home inspection done by a professional inspector. It will give you confidence that there are no problems and allay any doubts in buyers minds about the state of the house.
If you’ve made any major improvements or updates to the house in the past five years, you should keep the bills/invoices. This will allow you to give full disclosure on the state of the house to any buyers and give them greater peace of mind. Any improvements that include energy cost savings, should especially be kept for showing any buyers.
Taking the time to make all these repairs will guarantee a much smoother and faster sale. Home inspections and repairs during the listing period can mean losing out on potential sales. So, the sooner you do it before the listing, the better.