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So, you’ve decided to sell your house and now you’re considering whether or not you should sell it as it is, or invest in repairs. There are a number of factors, including your home’s current condition and the housing market that come into play when making this decision. 

An investment means gaining more income in the long run, so investing on repairs is always a good idea and will increase your home’s market value, but you don’t HAVE to repair everything. They’re not all good investments – there could be some repairs that are just a waste of resources. 

Things to consider: 

A lot of sellers usually put way too much towards fixing up their homes before having them listed. Your buyers are not going to see every little flaw in your home. They’re more likely to not even notice them at all. So, it would be beneficial for you to factor what takes priority and decide accordingly what you should and should put money towards.

State of the Nation– uhm, Real Estate Market

When your realtor says that the real estate market is hot, it means that homes are selling like hotcakes, and are getting multiple offers and even bidding wars. This is also called the seller’s market. So, when the market is hot, it’s easy to get away with fewer fixes before selling. But, don’t even think about skipping it altogether because a home with fewer fixes will still deliver a lower price. 

Condition of the competing homes 

We’re sure you have encountered the abbreviation “CMA” at least once while looking into real estate. A CMA or a comparative market analysis offers an overview of recently sold homes in your area. Your agent would be able to get hold of a CMA of your neighborhood to help you get a sense of whether your home offers more or less than the other homes situated in your area. 

Bring back ROI 

There are repairs and home improvements that would be more likely to benefit you more than others. This means that there are renovations that would increase your home’s market value more than other repairs. For example, a minor kitchen remodel can add more than $15,000 to your home’s value, but replacing a garage door would only increase your value over $3,000. It would be advantageous to have this insight, so the best thing you can do to assure this is to talk to your Landon Pacific realtor before making any repairs. 

Part 2: Your Home As Is

If the cost of your repair would be higher than your home’s selling price when you put it up on market even after the renovations, then it wouldn’t make sense to proceed knowing that you’ll end up with less money than you started with. 

Let’s say that the property in question is in need of a lot of repairs. I mean – A LOT. Just shy over being run down and seeming like it has been abandoned for a while. Economically, this is not a home that can be easily fixed per say. Because let’s face it, a coat of paint is not going to help. So, in cases like this, the best route is to just decrease the price of your property competitively enough to be able to receive multiple offers. It can still be considered a good target investment for contractors, investors, and house flippers.

Are homebuyers looking for fixer-uppers?

Well, the answer is, it depends on the buyer. Some may want to put in that extra work, some may not. It’s all a matter of those interested in making that investment finding you. Those who do want fixer-uppers are generally looking for properties that require only light cosmetic repairs and they’re usually those who aren’t qualified to buy a more expensive home, or looking to make a profit by fixing the home themselves.

Let’s look at the numbers: 

Buyers looking for fixer-uppers will inevitably want a discount from the price of the home to allow for the repairs, and then demand a bit more for the inconvenience. 

For example, let’s say that the home would be worth $100,000 if it had a new roof. The repair would cost around $10,000. However, a buyer would most likely NOT offer $90,000 for the home as they would be able to purchase an identical property with a new roof for the same price and save themselves from the hassle. 

The offer a buyer would make for a home like that would be around $75,000 or even less. You would be better off paying for a new roof and then selling your property for $100,000 in this scenario.

It’s beneficial for a seller to realize that few buyers will be looking forward to buying a home that needs a new roof. They worry that the work that comes along with it will cost more than what they initially thought and subsequently most buyers prefer a home that’s in move-in condition.

Before fixing up your home 

In order to get the best price possible for your home, you have to be a smart seller. Meaning that you will have to weigh the cost of the proposed improvements against the home’s market value after the repairs or upgrades are completed. Before you decide to lift the roof and install skylights in the master suite, think back and realize that kitchen and bathroom renovations carry the highest return. 

Here’s a short list of improvements you can more on your home with high ROI:

It’ll do you good to make time and tour other for sale homes in the neighborhood with your Landon Pacific realtor to help you note the condition and amenities in those homes. These homes are your competition. 

Although, this doesn’t mean that you would have to buy designer appliances to one-up your neighbors. The goal is to make minor renovations that would give you the highest returns. 

Repairs That Will MATTER

Before going through with the repairs, make a list of everything that’s either defective, broken, or worn out. Things like that will heavily affect your buyer’s decision if pursuing the sale. The anxiety that would be brought about by the constant thought that something else might be broken is not an appealing selling point. 

Here are some more improvements to consider before selling your home:

Bottom line

Selling your home as it is is more of a gamble than it is a smart investment move. Before you decide on it, make sure to learn as much as you can about the housing market and other homes for sale in your area, and then consider which home repairs are most likely to give you the highest return on your investment.

Source blog:

How To Sell Your Home During The Holidays

It’s a known fact that the real estate market slows down during the holiday season. Not surprising, most people wouldn’t necessarily find it “joyous” to move out or move in during such a festive time. However, there are a lot of advantages to selling one’s property during this holiday period. So, if you’re serious about selling your home, here are some tips to help you sell during the holidays.

Deck the halls, but don’t get carried away. 

Homeowners regularly put their home’s best foot forward during special times of year, yet merchants ought to be mindful so as not to try too hard on the stylistic theme. Decorations that are too big or too plentiful can swarm your home and distract purchasers. Likewise, avoid alienating buyers by picking general fall and winter decor rather than things with religious affiliations.

Hire a dependable realtor. 

That’s somebody who will work hard and won’t ghost you during Thanksgiving, Christmas or New Year’s. Ask your peers as to whether they can recommend a listing agent who will go above and beyond. One who will exceed all expectations to get your home sold. This will give you time to relax and give you more opportunity to enjoy the season. 

Source serious buyers. 

Anybody house hunting during special times of year should have a valid reason for doing so. Work with your agent to target purchasers who are on a cutoff time, including but not limited to, individuals relocating for work, financial backers on charge cutoff times, undergrads, staff, and military faculty, on the off chance that you live close to a military base.

Price it correctly. 

Regardless of  the season, a house that is evaluated low for the market will cause purchasers to feel optimistic. Rather than making small value decreases over time, many realtors encourage sellers to cut their costs prior to putting a home up for sale.

Prioritize curb appeal. 

When fall hits and the trees begin to lose their leaves, retaining the exterior of your home turns out to be more significant. Bald trees make for a  more exposed home, so finish up the paint, tidy the drains and maintain the yard. Keep in mind the buyer’s safety by ensuring steps and walkways are clear of snow, ice and leaves.

Take first rate real estate photographs. 

Once the weather cools down and the days shorten, homebuyers are probably going to begin their house hunt from the comfort of their own homes by browsing on the Internet. Establishing a good first impression by offering an abundance of complimentary, top-notch photographs of your home. If you can, have a summer or spring photograph of your home accessible so they can see how the property would look all year-round.

Make video tours. 

You’ll get less walk-ins during the holidays because of the cooler climate, less daylight, and vacation plans. Be that as it may, shooting a video tour and posting it on social media might draw in house hunters who don’t have the opportunity to truly see your home or would prefer not to venture out. 

Provide a place to get warm.

Make your home feel comfortable and welcoming during showings by keeping the interior warm, playing delicate traditional music, and offering hand-crafted festive treats. When you encourage purchasers by investing more energy into your home, you likewise give them a greater opportunity to appreciate its best elements.

Offer seasonal joy through financing. 

Lenders can be Scrooges nowadays, however in the event that you have the means, why not offer a home credit to a genuine buyer? You could get a decent rate of return on your cash.

Unwind — the New Year is not too far ahead. 

Holidays are stressful enough with presents to buy, meals to prepare, and family members to spend time with. Pause for a minute to remind yourself that if by chance you don’t get to sell now, you can always try again next year, which, fortunately, will only be a couple of days away.

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