How to Increase Your Home's Sales Price: Small Repairs
Want to know one of my top ten tips for making your house more marketable and selling it for more money? Take time to do the small repairs.
Every house seems to have things that need to be fixed. The reality is that houses are lived in, so they get used and take a bit of a beating over the years. We have dogs, cats, guests, people bumping into stuff, we hang art on the walls, things break, and things get wet - it's nothing bad, it's just what happens. So, if there's any small thing that needs to be fixed or updated (i.e. a doorknob needs to be replaced, there is a missing hinge screw, a wall has scuff marks everywhere and needs a fresh coat of paint, etc.), it's important that you make sure to get it done.
Though we tend to become immune to the nail holes in the wall, or that section of carpet that won't stay down, those are issues that a potential buyer isn't going to be able to look past. As a matter of fact, those will be the first things they'll notice. And if they don't notice it, you can guarantee that a realtor or inspector will - and all of those little things can have an effect on how much buyers value a property (meaning you could get an offer for way below what you're hoping to make).
The good news is that if you do make these repairs a priority, you have a shot at making your property stand out on the market. Most properties for sale have things that are wrong with them, and it's rare to come across a house that is totally fixed up. If you can make your house one that people can just move into right away, they're going to want to pay more for it than the other ones. As small and annoying as some of these things are, even if you have to hire a handyman to do them, it is 100% worth it because buyers don't want to spend time and money fixing it. For them, it's just an added stressor to the process of purchasing a home.
Then, of course, there's also the fact that HGTV has set a standard for buyers in the market, meaning that if you can do additional refreshes (especially painting - painting is HUGE and can have a major impact on your home), you absolutely should. Just be sure to stick to popular colors and styles (grays are in high demand right now) because it gets people excited about making your house their new home.
How much does all of this cost? You can probably do most minor repairs for less than $1,000 total. This is a total steal considering that you could earn thousands, if not tens of thousands, more on the sale of your home just by making the effort and doing the preparation.
So, be sure to really look at your house and determine where the issues are located, then fix all the little things in your house that need to be repaired. Your bank account will thank you for it.