NECESSARY REPAIRS CAN’T BE IGNORED
While major remodels aren’t always cost-effective, critical repairs can’t be overlooked. A leaking roof, faulty electrical wiring, or structural damage will be flagged in a home inspection and may deter buyers. If you can’t afford to make essential repairs, be prepared to adjust the price or offer buyer concessions. A buyer will factor major repairs into their offer—and if they’re taking on a large financial burden, they may expect a significant discount on the home’s price.
STARTING WITH THE BASICS
Every home on the market should meet fundamental buyer expectations. Your home should have:
A sound roof with no leaks or damage Functioning gutters and downspouts A solid foundation with no major cracks A working heating and air-conditioning system Safe and secure electrical wiring Strong subflooring free of major defects
Finance-mandated home inspections may require certain repairs before a buyer’s mortgage can be approved. If your home has significant issues, you may need to fix them—or risk delays or cancellations during the escrow process. However, extensive remodeling isn’t necessary to sell your home. Instead, focus on meeting the standards of comparable homes in your neighborhood. Over-improving can be a costly mistake. Market value is based on recent sales in your area, not just how much money you
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