Recently, a lot of sellers have been asking me, “Should I make repairs before listing my home?” The short answer is yes. While we’re still in a seller’s market, the truth is that there aren’t as many buyers as there were during the peak a few years ago. The good news is that buyers still looking to purchase a home in this environment are very serious about moving. However, due to higher interest rates and home prices, your property needs to be in great condition to stand out. That’s why today, I’m sharing three things you can do to get your home in perfect market condition before selling:
1. Have a pre-listing meeting. Meet with your agent before you list to go over which repairs are really worth it. Not every fix is worth your hard-earned money, so invest in repairs that will improve your home’s condition and net you a higher return on your investment. It might be worth it to pay for a pre-inspection before you list. This way, you can find exactly what might turn buyers away and fix it before you hit the open market.
2. Choose between cosmetic and high-maintenance repairs. Most repairs fall into one of two categories: cosmetic repairs and high-maintenance repairs. Cosmetic repairs are usually optional and won’t be a sticking point in negotiations. However, they can net you a higher return on your investment. High-maintenance repairs take longer and require a larger investment, but they often fix major issues that need to be addressed if you want good offers from buyers.
3. Proper repairs expand your buyer pool. The condition of your home is the most important factor you can control when selling because it expands your buyer pool. In today’s market, there are fewer buyers due to interest rates and higher home prices; however, you can still attract a lot of demand with a property in good condition. If you do the proper repairs, you’ll have more offers coming in from better-qualified buyers. Work closely with your agent to create a strong marketing strategy, and you might even create a bidding war and naturally drive up your price.
I always recommend sellers do repairs before listing, but it’s more important in this market than it ever has been before. If you’re wondering which repairs are worth doing or want to discuss a pre-listing strategy, just give me a call or send me an email. I’d love to hear from you!
