After a few buyer showings, sellers often receive feedback about their home’s negative features from a buyer’s or agent’s perspective. This often puts them in the dilemma of whether they should invest any money to update or repair these items. In our current buyers’ market, it’s a reasonable concern, but often it can cost you much more later if you don’t spend the money now. To make a wise decision, it’s important to weigh the cost of repairs against the change in your home’s value. You must also consider that not making certain repairs or updates can lead to a lengthy market time and even cause a pending sale to fail inspection or appraisal!
Understandably, it may be beyond most sellers’ financial means to complete costly repairs or remodeling, but small things can make a big difference. Replacing a broken screen door to add curb appeal, adding stainless steel appliances, or updating a worn kitchen floor with neutral tile can save you market time and attract an offer. If you are not sure what buyers are looking for these days, talk to a Liquid Blue Realty agent. One safe assumption is that if you don’t want to do it, a buyer won’t either! Also take a look at the many decorating sources available online, and you can always see the latest and greatest trends at The Remodel Ohio Show which starts Thursday, January 29th and runs through Sunday February 1st at The Cleveland I-X Center.
In a buyers’ market the home at the best price and in the best condition will sell first. If you spend $1000 on new appliances, $500 on a new floor, and $500 to freshen-up the paint, this $2000 investment might be all you need to sell your home 3-5 months sooner resulting in months of tax, insurance, & mortgage payment savings, which will certainly save more than the $2000 you spent! You will also most likely sell closer to your list price giving you an even better return on your investment. As they say “Time is money” so think about what it’s costing you not to spend!
