If you plan to list your place on the market soon, you might wonder what to do before selling. After all, most of us want to make as much as possible throughout the sale to maximize our returns. You might even wonder if the list of what repairs to do before selling a house is worth addressing since the real estate market has shown tremendous growth.
If it’s worth making those home repairs in this market — what are essential repairs to make before you sell?
Do You Need to Make Repairs Before You Sell?
Before we even discuss things to fix before selling your house, there’s likely one question on your mind. Is it worth repairing your home based on the current real estate market?
This is where things get tricky right off the bat. It’s been well-documented that many Canadian homebuyers have had to forego the home inspection process to purchase a home. Therefore, when there are multiple offers on a property, you have to do whatever you can to ensure that your bid goes through so that you don’t miss out on your chance to become a homeowner in a competitive real estate market.
As a homeowner, this means that you may not technically be as concerned about issues with your property since you know that properties are still getting multiple offers regardless of their state.
Here are a few reasons why it makes sense to invest in house repairs before selling despite all of this:
- You can charge more money for the property with specific repairs
- You don’t want to raise any red flags with potential buyers with apparent repairs that you didn’t manage
- Sellers are legally obligated to disclose any issues that would render the home inhabitable or come with a hefty cost to repair
Homebuyers can also request access to the property between the time a deal is accepted and the official possession date. While it would be difficult to get out of the agreement at this point, you still don’t want any trouble.
Your home was likely one of the most significant investments you’ve made. Therefore, you want to make as much money as possible when you sell.
For major renovations, house flippers generally use the standard rule of thumb that every $1 you spend on your home will add $1.50 to your home’s value. So here’s the bottom line on what needs to be done before selling a house, even in the current market:
4 Repairs to Make Before You Sell
There are significant house repairs and upgrades that you’ll want to focus on before the selling stage. This will avoid raising any red flags with prospective home buyers.
#1. Take Care of Your Roof
A new roof is expensive, but this investment instantly makes your home more attractive to potential buyers because they’ll know that they won’t have to think about this for at least a decade. You’re going to want to repair your roof at least to ensure there are no broken tiles or potential spots for a leak.
#2. Tune-Up Your HVAC
You will want your heating, ventilation, and air conditioning system (HVAC) to be in good working order. You could hire an HVAC technician to assess your system’s condition. Buyers may sometimes want a warranty on the HVAC system, so you must ensure it’s functioning correctly.
#3. Manage Plumbing Problems
You will want to ensure that your plumbing system is functioning correctly. Leaky pipes or clogged drains could bring down the value of a home because these issues could lead to mould. Not to mention, water damage is difficult to deal with in general.
Potential plumbing repairs include:
- Leaking pipes
- Damages from a pipe burst
- Clogged drains.
#4. Electrical Repairs
You can hire an electrician to examine all switches, wiring, and circuit breakers to ensure that the electrical system works properly. Since electrical issues could lead to potential home damage, you will want to look into your electrical system.
What Repairs Maximize Your Return on Investment (ROI)?
When looking for things to fix before selling your house, it’s important to remember that certain repairs are often necessary, while upgrades can be optional. For example, you don’t want to begin an entire kitchen remodelling project while trying to sell your house.
First, consider these optional upgrades:
- Replacing siding
- Replacing old, worn-down windows
- Adding in a deck
- Refinish hardwood floors
- Purchase new appliances
- Improve the fencing around your house
- Home exterior (garage door, gates, and so on)
- Bathtubs and showers
When searching for things to fix before selling your house, you will also want to speak with your real estate agent about similar properties in your market. In addition, you want to ensure that you’re offering a comparable house so that you can have multiple offers.
What Small Repairs Should You Make?
Let’s say you’re not in the position to invest significant financial resources into your home remodelling. In this situation, let’s look at minor and easy upgrades that you can do to make your home look more presentable when trying to sell it.
- Paint. A fresh coat of paint can make the interior look fresh and clean for home buyers at first glance.
- Walls and ceilings. You’ll want to repair nail holes and any dings in the wall so that your home looks more presentable.
- Replace any broken window glass. You don’t want to leave any broken glass around.
- Change any dated light fixtures. Lighting can make a significant difference in how a home looks.
- Update the landscaping outside. The first thing prospective home buyers will see is the exterior of your home. A few simple tweaks could make your home look more attractive.
Final Thoughts
Hopefully, you have a better idea of which things to fix before selling your house to maximize your profits for the next step in your life. The goal is to decide what home repairs you should make based on potential ROI and what would make your property more attractive to prospective buyers.
While there are homebuyers who want a fixer-upper property, most of these folks are aiming for light cosmetic repairs that won’t break the bank.
