Important Home Repairs You Should Consider Before Selling your Home  

Key Takeaways:

• Most homes would need all repairs completed before they are able to be sold for top dollar.

• Some home repairs can prevent the need for several other types of repairs if done right and on time.

• Procrastination can cost you 10x the amount you should have paid for one simple repair.

Keeping your home in good shape can pay significant dividends when it’s time to sell the house. Because of human nature, a home will likely need annual maintenance or a standard repair after short or long-term usage. No matter the maintenance culture you or your property manager adopt, or the attention to care given in managing the physical, financial and fiscal performance of a property, the effect of time has its way of making a home vulnerable to a few physical impacts and, most importantly, natural impacts from any form of occupancy and even vacancy, that can cause significant property damage and increase repair needs. While some damages can be minimal, requiring just a minor cosmetic or handyman type of repair, some can be severe, requiring several thousands of dollars to restore the property to code and to be habitable with all major systems in good and fully functional condition. Before listing your home for sale, here are some important home repairs you should make if you want to increase the return on your investment:

1. Roof Leaks and Openings

A damaged roof will most likely be due to time or natural disasters, such as an earthquake, flood,  windstorm, or perhaps even snow depending on what markets you’re investing in. However, a damaged roof is one repair you want to get right on and remediate as quickly as possible. Small leaks or small openings that happen over time can cause mold growth, weak walls, sagging roof deck, and damaged sheetrock and insulation. The more prolonged the issue, the more the damage, and a considerable repair budget will be required to get the property back to what’s marketable and saleable. While some issues might take a long time to notice, a bad roof will leave some telltale signs potential buyers can detect easily during the physical inspection phase of their due diligence period.

2. Broken Doors and Windows

Doors and windows are major features that every homeowner must have in good working condition. For security and protection, in-tact doors and windows will be harder for potential prowlers to breach, but broken ones can make the home insecure and reduce the curb appeal. If you’re considering selling your home, replacing broken doors and windows is one project you should expense for and add as line items on your scope of work to execute in order to increase the home value and attract potential buyers. Everyone wants a safe place to live in; however, doors and windows offer more significant benefits all year long as a barrier to external forces, including bad weather. With making these timely upgrades and repairs, you can likely get your home sold more quickly.

 3. Bad Plumbing 

Plumbing issues left unresolved can create bigger problems that further decrease a home’s value and scare potential buyers away. Old, galvanized, leaking and/ or broken pipes are all common causes of damaged drywall and flooring. Wet walls will allow mold growth which can pose a health risk and make the home unsafe. Identifying and fixing bad plumbing shouldn’t cost a hefty amount of money if inspected and detected early on, but a delayed repair can leave you spending more to fix other problems caused by negligence and deferred maintenance.

4. Faulty Electrical Panels

Electrical panels at home are like the heartbeat of the house. They are highly essential in virtually every nook and cranny of the home. An old system that needs an upgrade should be done to enhance functionality and performance while also decreasing capital expenditures on having to replace versus just service it. Meanwhile, bad fuses and unchecked cables can pose serious hazards that can leave one with long-lasting regrets. When an electrical panel needs a replacement, don’t hesitate to call an electrician to have them checked and be ready to make the required repair immediately. 

5. Crack and Settling Foundation 

A foundation makes a home stand, and issues with it can mean danger for everything occupied in the home. Issues such as sagging floors, vertical or horizontal cracks are signs that the foundation needs immediate repair. Before listing your home for sale, you should hire a concrete contractor or foundation specialist to do a thorough check of the foundation walls. During this inspection, they will look out for cracks or settling and if any findings of damage exist, they will call it out in their inspection report they send to you after. If you see this in your inspection report, you need to get a contractor to remediate these structural repair needs as soon as possible. Structural issues significantly can significantly cripple your cash flow and/ or property’s overall value if sold in it’s existing condition with these types of repair needs. 

Additionally, other important home repairs such as bathtub leaks, broken cabinets, faulty HVAC, and more can also lower the value of your home. The issues listed above can cause potential buyers to lose interest and consider your home a bad business decision to invest in if they are not interested in flipping the house or sweat equity contributions. When you consider making these home repairs before selling your home, you can significantly increase your home value and get more potential buyers ready to make an offer. Also, most retail buyers often look for homes that require fewer or no repairs and are turnkey, move-in ready properties. A bigger buyer pool creates more demand for your property and more demand creates bidding wars which ultimately and usually result in a higher selling price and net profit you walk away from the closing table having in your bank account. Furthermore, properties with Most of the above referenced repair needs will not qualify for conventional financing and most buyers in today’s environment are purchasing a property with the financial assistance conventional financing affords them in participating in the “American Dream” of homeownership. 

To get the best deal on the property, the reality is that most, if not all of those repairs will need to be done before you put your home on the market for sale. However, if you decide you don’t have $30,000 – $60,000+ to spend on renovating the property yourself like most people, you don’t have the time luxury required to dedicate to this large of a project with something most homeowners have no prior experience or formal training in, or you simply don’t have the interest in doing all of this, then your second option may be to credit the total cost or a percentage thereof of the repair costs to the buyer at closing. Lastly, you can consider selling your home as is, with or without the help of a realtor, to an investor or landlord buyer who can pay cash, close on your timeline, and not require you to make or pay for any home repairs at all to close since they typically have the time, team, experience, and capital required to buy and renovate the property with much more flexible terms and shorter closing timeline.

Like the sound of the latter option of selling on the market and/ or making home repairs? Contact us today! Here at Imperium Enterprise, we pride ourselves on being the area’s premier real estate solutions company, and since our inception we have helped homeowners and  improved communities in each and every city we work in. With the ability to directly purchase homes and make all cash offers, we can create an extremely fast, and hassle-free transaction. Our mission is to rejuvenate neighborhoods and increase the standard of living by improving the overall quality of housing for the residents and families we have the privilege and honor of housing. 

Call us today at 888-779-0065 and let’s see how we can work together!