repair those before putting your home on the market or expect to give concessions to the buyer. Improvements like putting railings on porches (where the deck is two or more feet from the ground) may be necessary because of regulatory requirements when the buyer is planning to get a VA loan. For more information on VA loan requirements, please visit: https://www.benefits.va.gov/ roanoke/rlc/forms/ci_guide_2005.pdf
STARTING WITH THE BASICS
Every listed home should meet the basic expectations of any buyer. It should have a sound roof, functioning gutters and downspouts, foundation without cracks, functioning heating and/or air- conditioning system, solid subflooring and safe and secure electrical wiring. With financer-mandated home inspections, any shortcomings may be required to be remedied to get buyer financing approval. 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, as in the example above, 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 and having an updated kitchen may help sell your home faster, 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.
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