April 11, 2022
Is it worth it to make updates and repairs to your home before selling in 2022?all expert tips
Is it worth it to make updates and repairs to your home before selling in 2022? Probably not. With a massive shortage problem and huge population growth in Florida, buyers don’t have much of a choice in homes.
Once a home hits the market, it is usually going to have multiple offers pretty quick, regardless of condition. There is even an increase in buyers who are willing to make updates and repairs after closing.
That being said, we are going to discuss what updates and repairs are worth it, and when they are not.
4 point concerns
A four point inspection is vital in order for a buyer to get an insurance policy. A four point inspection focuses on HVAC, electrical, plumbing, and roofing. Buyers may not mind fixing a few things, but 4 point problems can cast serious doubt into their minds about your property.
Our advice is that if you have a major four point issue, fix it before listing.
As an investor, I have bought, renovated, and sold countless houses. In the past, we were able to add value to homes by adding in granite, better light fixtures, and so on. Today, we are seeing those same upgrades that were so valuable a few years back, not make the same impact today.
I do believe updating a house adds value, whether it is new floors, paint or appliances. The issue now is that you don’t get your money back plus an extra profit as often. So if your home is somewhat outdated, I probably wouldn’t bother.
Really outdated homes
If your home still has pink tile or an avocado toilet, the renovation will be worth it. Not all buyers are able to visualize the potential of a space. So if your home is especially outdated, buyers will have a low perceived value of your home and the renovation will always always make a massive impact.
Before listing your home for sale, get some guidance that will make a difference. Call us today or fill out the form here to get in touch.
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