Knowing what to fix and what not to fix when selling a house can be tricky. Still, if you’re wise and diligent, you can carefully choose which enhancements are worthwhile to invest your money wisely.
The idea is to learn how to strategize so you can make the maximum possible profit.
Many first-time sellers believe they will drastically improve their chances of selling it by completely redoing their house when they don’t need to renovate every last bit of it.
Moreover, it is vital to understand how much you lose selling a house as is since it can drastically decrease its value. As a flipper of houses, you need to keep track of how much money you lose from each sale.
Although it will reduce the house’s value by a certain amount because it’s being sold as-is, there can be consequences for over-improving the home.
Those consequences include adding in too many extras or not leaving enough room for potential buyers to make changes to the home to fit their unique needs and design preferences.
Before selling it, real estate flippers typically fix all the structural damage and plumbing/electrical problems before putting it on the market.
Take a look at this comprehensive guide about what not to fix when selling your house. The goal here is to not spend more than the additional value you will gain.
Checklist on What Not to Fix When Selling a House:
First, let’s take a look at three steps that will help you determine what type of repairs to make before you put your house on the market.
1. Rule out partial fixes
The rule of thumb when considering what not to fix when selling your house is, “Go Big or Go Home.”
If you’re planning to renovate a room or a section of your house, make sure you do it all at once rather than in parts. It’s very tempting to try and update one aspect of a room so that it looks more appealing.
Still, unless you completely renovate its interior elements as well, it can come off looking lackluster and uneven instead.
For example, if you replace an old bathtub with a walk-in shower but leave the walls cracked and discolored, the whole setup will look visually confusing.
Take our advice: wait until you can do it all at once!
Ultimately, be sure to allow your project to shine by replacing old fixtures with new, sleek ones that have just been recently updated.
Individuals often make the mistake of thinking they can work around shoddy surfaces like countertops and cabinets by purchasing new accessories like faucets and appliances instead – this will never make a space look better!
2. Don’t stress over trivial cosmetic issues
In estimating how much money you lose when selling your house as-is, you will want to splurge as much as possible to make it appealing to potential buyers.
However, the fact is that no buyer expects to walk into a home and find it perfect in every way.
After all, a fair few leave more than just a bit of clutter along the way when checking out new potential homes.
What buyers do expect, of course, is that the home they plan on purchasing from you is structurally sound and in tip-top working order. This means focusing your efforts on tidying up those areas that might frighten people from making an offer on your home – namely those aforementioned structural issues and stressful problems like outdated plumbing or electrical systems.
Even though people can get over minor cosmetic damages like scuffed floors and chipped paint, no one can make light of significant repairs needed!
3. Ignore Driveway and walkway cracks
Don’t let cracks in your home stress you out. Homeownership is often a rewarding experience.
However, it can be stressful when little jobs around the house keep piling up. Also, you’ve no idea where you’ll find the time for them all!
Keeping on top of small leaks and lightbulb replacements is even more important than paying for costly repairs when you’re working hard to pay off your mortgage.
So, don’t worry if your ‘curb appeal isn’t up to scratch.
Focus instead on things that will add real value to the safety of your family or make their lives a bit easier; spend a pretty penny on attractive fixtures and fittings, then make sure they’re functional too, like handles that are easy to grasp!
4. Skip any minor electrical issues
While there may be many things you’d want to fix before putting your house on the market, sometimes this isn’t always necessary.
This point stands true for minor repairs such as cracks in walls and wobbly sockets and even odd light switches that don’t turn anything on.
Remember: these problems won’t turn any potential buyers off from buying your home, and neither would they affect its value in any way.
Electrical issues are usually the most important thing to repair before selling your house.
While this stands true for a house with major electrical problems such as faulty wiring or a malfunctioning circuit, sellers don’t have to worry about fixing wobbly sockets or odd light switches that do not turn anything on.
Remember, these minor problems won’t turn away any potential buyers, and neither would they affect the overall value of your property. In conclusion, this is definitely what not to fix when selling your house to avoid losing money.
5. Don’t obsess over trends
House paint trends come and go, just like clothing styles and other design elements you see. If you check the color of a home on a listing website these days, you’ll notice how gray paint seems to be trending.
However, this popular choice isn’t necessarily the best in terms of making your home look attractive and catchy to buyers.
On top of that, it’s not something that can trick buyers into thinking your home has been recently refurbished. This is because as soon as they walk inside, they will compare what is directly in front of them with their expectations of seeing new innovative designs.
Keeping things neutral goes a long way toward giving your home an updated and remodeled appearance without spending too much money or simply stressing out over a coat of paint!
Consult a Realtor Before you Fix anything
So, this was your checklist on what not to fix when selling your house. You might now be wondering if any pocket-friendly fixes can benefit your property and ease the home-selling process.
For that, we recommend that you work with certified real estate specialists since they know which final fixes can be valuable and how much you lose when selling your house as-is.
A local, experienced real estate agent should be able to help you assess the value of your house.
A real estate agent like Real Estate Juan C can help you by evaluating your house relative to similar homes recently sold in the neighborhood. Lenders use a similar metric called loan-to-value (LTV) ratio equations.
To start this assessment, request an appraisal from a professional who is familiar with the kind of property you’re selling and can provide a comparative analysis with other properties that were sold nearby that were around the same price as yours.
If everything on your CMA at your desired sale price is in a condition similar to yours, you may not need to do any repairs before listing.
Additionally, if everything on your CMA is much more updated – especially if no homes nearby are listed for sale – you may want to update some aspects of your home and overcome any flaws before putting it up for sale.
If you’re planning to sell your house…
Take a look at the houses we’ve sold on Zillow if you want to see what they look like. You may find that they didn’t fix some things you were thinking of fixing.
[Related Article: 10 Questions You Should Ask Any Realtor When Selling Your Home]
If you want an expert’s opinion, we at Real Estate Juan C can help you. Contact us today, and let’s define what’s best for you.