Imagine you’ve got a 9 year old clunker of a car that has a blue book value of $500.

You’d like to sell it, but it needs a new muffler.

Old Jaguar Car

No one will buy it, even at $500, because it needs a new muffler.

 

Now, imagine you’ve replaced the muffler.

That didn’t increase the value of the car, did it?

You’ve fixed the car so that you can sell it, but it’s still only worth $500.

 

Old HouseUnfortunately, the same is also true for your home.

If your home has repairs that are necessary – leaky roof, broken furnace, etc. – you’re not really increasing the value of  your home by making these repairs. You’re just fixing it so that it’s more likely to get sold, but it’s still not going to sell for more than it’s worth.

In fact, if you don’t make those repairs, you’ll have to give concessions to the buyer to make the repairs, and they’re likely to expect much more in concessions than the repairs are actually going to cost because of the inconvenience.

 

You’d be smart to repair the systems of  your home before you try to sell it. It may cost you some cash, but you’ll get a buyer.

 

 




~ Wayne & Jean 


Union County, NJ - a great place to live and work!


If you're looking to buy or sell a property in Union County, call us at 908-917-4189 or email TeamZuhl@gmail.com.

Check us out on Facebook at Real Estate Today and Things to Do in Union County! Follow us on Pinterest and Twitter.


All opinions, information and data provided is deemed reliable but is subject to errors and omissions. Not intended to solicit other Brokers' clients. We cooperate with them fully. 

 
Star Posted by Wayne and Jean Marie Zuhl on 10/19/2012 03:53 AM   Comments (25)   Seller Tips in the Home Selling Channel   selling a home  
Originally posted at: Union County Homes: Does replacing a muffler increase the value of a car?
Short URL: http://actvra.in/KjH

25 Comments on Does replacing a muffler increase the value of a car?

20 Most Recent Comments Displayed Show All

OCT
19
564,817 Points 17 Featured Posts Called Shot Master
Wayne & Jean, great post. Many sellers think every tiny thing they have even done to the house increases value, when in reality, it could be deferred maintenance, which just brings the house to the current level of competition, or just below it.
4:36am • #6
653,369 Points 70 Featured Posts Outside Blog Called Shot Master

Great analogy Wayne and Jean!  I couldn't have said it better myself.                                                                             
5:12am • #7
731,093 Points 15 Featured Posts Outside Blog Called Shot Master

Wayne and Jean, great analogy! Some sellers think they can should recoup the money spent on repairs. I hear this all the time.
5:41am • #8
590,765 Points 62 Featured Posts Outside Blog Hit Router Attended Rain Camp Called Shot Master
This is classic. So is the thought that whatever that new fixture or update cost, is just simply added to the list price of the house. Wrong O!
5:58am • #9
780,359 Points 97 Featured Posts Outside Blog Called Shot Master

Wayne and Jeanne - Love the analogy; makes sense to me!
6:15am • #10
840,383 Points 69 Featured Posts Outside Blog Called Shot Master

I have often told people that certain work will make the home sell quicker...As to more money, some repairs just don't do that..In fact, less money dynamics apply if it is serious repairs that are not addressed...relevant post and thank you
6:50am • #11
486,374 Points 3 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

This philosophy could be said of your health ---- it cost you much more the more you ignore the signs that need fixing.
7:40am • #12
226,761 Points 4 Featured Posts Outside Blog Called Shot Master

Great Post. Love what Lenn said that deferred maintenance is an expensive one.
8:23am • #13
1,423,587 Points 41 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Great post and I also like Lenn's comment. .

BTW

I'm thinking of putting a flowmaster on my car!
8:44am • #14
139,440 Points Outside Blog

Agree with you completely.  Can't do much to increase the value of your home by making repairs before selling it.  
9:30am • #15
106,229 Points Called Shot Master

Very true but if you put a new roof on perhaps it will make your home more valuable than the one that will need a new roof in 10 years...
9:33am • #16
227,522 Points 8 Featured Posts Outside Blog

You make a really good point here.  Excellent analogy, as well.  Thanks for posting.

 
9:55am • #17
229,889 Points 1 Featured Post Called Shot Master

9 years old makes it a clunker? Mine's an antique clunker!
10:45am • #18
161,147 Points 1 Featured Post

Don't they call that "putting lipstick on a pig"?  :-) Mostly, only investors want to buy a home that is not habitable.
11:28am • #19

Outstanding point!  Many sellers don't understand that maintenance on their home, usually doesn't increase the value of it.
11:53am • #20
3 Featured Posts Outside Blog

So true, and yet said how sometimes sellers don't understand this is an opportunity to fix their house (no longer their "home" since they are selling) and make it look great to attract prospective buyers.
2:23pm • #21
175,904 Points 1 Featured Post Outside Blog Attended Rain Camp

Yes, and lets not forget that most agents call general maintanence issues an "UNGRADE"...not so.

A compressor for the A/C system is not an upgrade.....

 

Eve in Orlando
3:56pm • #22
1,155,856 Points 86 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

This is an excellent analogy. Addressing deferred maintenance on a house is not the same as remodeling and updating, it just becomes more sale-able
6:19pm • #23
873,128 Points 47 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Wayne and Jean, houses must be maintained to stay at market value. Maintenance does not = more value. As you say, it means more buyers.

Sharon
9:04pm • #24
OCT
20

Yes the point your trying to make is true, but the other side of the coin is also true, replacing the muffler will allow the car to sell for something more then it can sell for now, same with houses so yes replacing the muffler will increase the value.
4:55pm • #25

20 Most Recent Comments Displayed Show All


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
W%20and%20j%20down%20the%20shore%20june%202012 Rainmaker_large

Wayne and Jean Marie Zuhl

Clark, NJ

More about me…

Hallmark Realtors

Address: 112 Westfield Avenue, Clark, NJ, 07066

Office Phone: (732) 499-0030 x 244

Cell Phone: (908) 917-4189

Email Me

Musings from Union County, NJ


Listings

Links

Archives

RSS 2.0 Feed for this blog

Find NJ real estate agents and Clark real estate on ActiveRain.