Why failing to make repairs costs home sellers too much money
Lee Ann makes a valid point to home sellers with her statement that: "It's not your home any more; it’s a product you are selling."
If Homeowners thought about that and if they put themselves in the buyer's shoes for a few minutes, they'd agree that some repairs really are necessary.
But there's a second point to be made. If the seller makes the needed repairs or updates before the buyer sees the house, the repairs will cost less.
They'll have time to gather recommendations and get bids rather than being in a hurry to get things done before closing.
Many times I go to a listing appointment and I have to have the dreaded conversation with the seller regarding repairs that should be made before putting the home on the market. It can be anything
from small cosmetic changes to major repairs.
As you can imagine, this is not always a favorable topic. I am usually met with two kinds of challenges.
It’s hard for sellers to see the value in making cosmetic changes since “they love that color” or “those gold fixtures were expensive (20 years ago)”. But sellers, you must remember once you put your house on the market its not your home any more it’s a product you are selling and the best way to appeal to a wide variety of buyers is to update your home even with something as inexpensive as new paint and a couple of new light fixtures. These relatively inexpensive repairs, if not done can cost you thousands in the end.
I know expensive repairs such as windows, furnace, roof, etc., not everyone can afford to make these repairs. But if these items need to be repaired or replaced, the price must reflect those repairs needed. Nothing screams “DON’T BUY ME” like a 40 year old furnace and a 30 year old roof. I have also heard from sellers that they would rather wait until after the home inspection and see if the buyer wants those items repaired, “why fix it if I don’t have to”. I always felt this is the wrong approach to selling your home. You want your home to show its best and costly needed repairs will turn away a large group of buyers. As a result your home will sit on the market longer and eventually you will have to decrease the price. So in theory, you didn’t want to spend $3,000 on that new furnace, but you have reduced the price of your home since listing it by $10,000.
Don’t be foolish trying to save a few bucks in the end it will probably cost you!!!
SELLING MORE THAN HOMES - SELLING A DREAM
Providing the Personal Service and Committment My Clients Deserve.
Lee Ann Obenauer - Licensed Real Estate Agent
For more information or assistance buyer or selling a home, please feel free to contact me at
(716)983-3607 or by e-mailing me at metro_obenauer@yahoo.com
METRO ROBERTS REALTY
Western New York's fastest growing real estate company with four locations to serve you. We offer the most extensive marketing package available in Westen New York.
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