If you have ever browsed through online listings for used items you may see a condition rating system including the words new with tags, good, like new, fair, acceptable, or even good used condition. Often both buyer and seller will assume that the closer an item’s condition is to brand new the more it is worth. But when it comes to the real estate market the category of the condition isn’t quite so cut and dry.
While it is true that homes seemingly in perfect condition most often sell for more money, improving your home’s condition to get it in its most pristine state may not always be the best idea financially. You might end up spending way more money than you will ever gain in added fair market value on the property.
How is a homeowner decide what improvements they should make and what they should just leave alone before listing their home for sale?
A List of Things to Leave Alone
Only Updating Part of a Room
Let’s say that the vanity in the bathroom looks like it was from a bygone era yet the rest is not so bad in your opinion. As tempting as it could be to make the simple switch out for a new vanity, it is better to just leave it alone unless you want to completely redo the entire bathroom.
A partial update never looks amazing and can easily stick out like a sore thumb making the room feel worse than it did before.
Minor electrical problems
When you first hear the words electrical problems it can be a concerning red flag. While this is true, some items are actually very minor fixes that are not impacting the overall safety of the home. For example, a loose wall socket.
Expensive Concrete Work That won't Make a Difference
Curb appeal is very important for a home, but minor items that may be unsightly like a hairline crack in the walkway leading up to the front door are not worth the extensive time and effort to have fixed. This minor flaw does not do much to draw away from the overall total curb appeal of the home.
Stuff That is All About Looks
If the issue is merely a means of how something looks and it feels old and tired but still functions perfectly, fine leave it be. Yes, you can perform some minor cosmetic issues, but if they take a large amount of money or time to complete you should just leave them alone.
Grandfathered building code problems
The building codes in a local area change from time to time. A building code issue can cause a little bit of worry when it shows up on an inspection report, but there is no need to spend thousands of dollars to get things up to current code standards.
A home inspector is required to address any building code issues in an inspection report but the seller is not required to update anything from an older home that did not have those standards in place when it was built.
Items You Can Just Toss
There’s no need to spend the amount to replace something that you could just simply remove from the home and no one will ever know the wiser. This can be items such as outdated window coverings.
There are some items you can simply remove from the home instead of updating them. When it comes to appliances you cannot simply remove them from the house, you will need to supply a new one. This is not however mean you need to buy the top-of-the-line new model.
In this scenario consider purchasing stock models or used appliances to help you save several thousands of dollars.
Here are a few things to do to help you decide what to fix and what to leave alone.
Think About What You Will Get Back
If someone asked to borrow $10 and says they will repay you with three bucks you most likely will not take up that offer unless the person might be in a very desperate situation. This is exactly what most homeowners get when they invest in unnecessary fixes or upgrades just before they sell their homes.
Using what traditionally has been the most important room in the home and helps drive at selling factor, the kitchen. If you go all out upgrading it to what you feel a buyer will want, in many cases, it is said that you will only receive about 50% return for your investment dollars.
On the other hand, in some ways upgrading and updating a kitchen could be a must unless you are willing to accept a lower offer in understanding that the kitchen could use some serious work.
If it's Just For Looks Don't Do It
It is not common for homeowners to feel that they need to bring a home up to date with the latest trends in every area. They feel that this will bring them top dollar for their home and get it sold right away. But often these items do not increase the value of the home at all.
Ask a Pro
Some sellers may make it a point to make sure they communicate with their clients not to do anything to the home to get it ready until they see it with their own eyes. This is because it is not uncommon for homeowners to overspend on fixing and upgrading things that may not even make a difference to the home’s value. An expert agent will help you to save as much money as possible when it comes to getting your home ready to sell successfully.
Every home type, neighborhood, and local market are different when it comes to real estate. It is a very smart idea to have your realtor walk through your home with you and decide how it can be shown in its best light.
For more information on selling a home in Mexico Beach Florida or other areas of Forgotten Coast real estate, please contact us anytime.