Preparing your home for sale: Repairs

Before buyers consider your home seriously, it must meet their needs in a variety of ways.  It must be a suitable commuting distance, neighbourhood, design style, floor plan, size, number of bedrooms, etc.  If all or most of these needs are met, the buyer will begin to move in the direction of making a purchase decision.  The purchase decision is a both an emotional and intellectual response, founded on a level of trust in your home.  So, it is logical that in marketing your home your goal should be to enable the buyer to build trust in your home as quickly as possible.

Property Maintenance and Repairs

One way to do this is to address both surface and hidden repair issues before putting your home on the market.  A few small clues, such as torn carpet or leaky faucet, will create a feeling that your house is not well cared for.  Once the buyer has spotted a few defects, he will be on the lookout for more.  If the finishes in your home are in good condition, buyers will assume that the mechanical and structural systems are well maintained also.  

Make a complete list

Remember that potential buyers and their real estate agents do not have the warm personal memories and familiarity that you have with your home.  They will view it with a critical and discerning eye.  Anticipate their concerns before they ever see your home.  You may look at the leaky faucet and think of a £10 part at Homebase or B&Q.  The buyer thinks of a £200 plumbing bill.  Begin by walking through each room and considering how buyers are going to feel about what they see.  Make a complete list of needed repairs.  Hire a handyman, if you need one, to fix the items in a few days.  It will be more efficient to have them all done at once.  Some clients choose to market their properties as a fixer-uppers.  Of course, there are handy buyers out there who are not afraid of repairs, but they expect to profit from this, substantially above the cost of labour and materials.  When a house needs obvious repairs, buyers always assume there are more problems than meet the eye.  It is in your best interest to get minor repairs fixed before marketing your home.  Your house will bring a higher price and sell faster.

Get an inspection

Often sellers have their home valued by professional valuer before putting it on the market.  This is an excellent way to discover unknown repair issues that may come up later on the buyer's inspection report.  By getting this done early, you will be able to address the items on your own time, without the involvement of a prospective buyer.  There will almost certainly be some items that you choose not to repair and that is OK but you should note on the inspection report which items you have repaired, and which are being left as is, and provide this to your selling agent.  A professional inspection report answers buyers questions early and creates a higher level of trust in your home.

Should you remodel?

Often a question is asked should a house be remodelled for sale.  We believe the answer to this is no - major improvements do not make sense when selling a home.  Studies show that remodelling projects do not return 100% of their cost in the sales price.  For the average home, it does not pay to move walls, tear out cabinets, re-do kitchens and bathrooms, or add rooms, in order to sell.  There is a fine line between remodelling and making repairs.  You will need to draw this line.  Here are some decisions you may need to consider:

Counter-tops are outdated or wrong colour:

• It may be worth it to replace the counter-tops if other components of the house are acceptable.  An attractive counter-top can transform the kitchen, and the kitchen has a significant impact on the value of your home.

Carpet is worn, outdated or wrong colour:

• This improvement is almost always worth doing.  Do not worry about whether the buyer will like your selection.  Just choose a neutral colour, and make the change.  New carpet makes everything else look better.

Walls need complete or touch of paint:

• This is a must do!  Clean walls are critical to a winning presentation of your home.  On the walls you should use neutral colours, such as cream, magnolia, etc.

Wallpaper is outdated or torn:

• This may need to be removed and the walls painted.  However, if the home needs a good deal of additional updating, then wallpaper should be left as it is.

Bathroom caulking or grout is dirty:

• Put this one on the must do list!  Old or darkening caulking is a turn-off to buyers.  It is easily replaced.

Remember that as you prepare your home for sale, your first step should be to make needed repairs.  By making repairs you will answer buyers questions early, build trust in your home more quickly, and proceed through the closing process with fewer surprises.  Your home will appeal to more buyers, sell faster and bring higher price.