There's always a lot of debate about whether to upgrade your home before selling it or sell as is.
Will you make your money back?
Will you make money on your upgrade?
Will the buyers like your choices?
In the past, as a seller, you could get away with giving an allowance for repairs, new carpet, new paint or a new roof for example. But now the average home buyer may not be prepared to update or repair.
According to NAR
The average age of the first time home buyer is 31.
The average age of all home buyers is 42
First time buyers account for about 40% of home buyers.
This gives you a snapshot into who might buy your home. Chances are they are in their 30s and are both working in order to afford their new home.
Generation X is juggling both career, family and finances. Time for repairs, remodeling and cleaning may be limited.
Leaving repairs and minor updates to the buyers discretion isn't always a good plan. Assuming buyers KNOW how much it will cost them to change out carpet or counter tops, still leaves the X factor of how much they will deduct for the trouble of doing it.
Leaving your home for the next person to clean and update is a red flag to first time home buyers, who have little time to process the cost and less time to make the effort.
If you don't want to clean your own home and make minor updates and repairs, be prepared for buyers to feel the same way. The offers you get may be lowball.
Yes you can reduce the price but it always make sense to sell your home as if you were buying it. Clean, updated and ready to move into!
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