STARTING WITH THE BASICS
It is important to understand that the market value of a home is determined by the prices of comparable homes recently sold in the area. Extensive remodeling to sell the home or to increase the value may not pay off. The property needs to be up to the standards of neighboring homes, so while the kitchen has to be comparable to others, spending $25,000 to remodel a kitchen in an area where comparable homes recently sold for $275,000 will not increase the house’s value to $300,000. While it may be a helpful selling feature, it won’t return dollar-for-dollar value.
MECHANICAL MAINTENANCE IS A MUST
It is easy to get wrapped up in the more eye-pleasing aspects of preparing a home to sell. However, the upkeep of all the more mundane aspects of the home cannot be overlooked.
These mechanical features require consideration:
• Electrical boxes and wiring • Natural gas lines • Plumbing • Central heating and air-conditioning
If these components are old, outdated, or not working correctly, the home’s appeal is lowered, as is the eventual sale price. According to the National Association of Realtors®, 65% of homebuyers surveyed wanted to be sure their new home had a working central air system. Of the 31 mechanical features inquired about in the survey, this was the most important. People want to purchase a home that reflects their aesthetic tastes and lifestyles, but also one that is safe and sound. Faulty electrical
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