Used cars: it is not usually a good idea to spend a bunch of money to fix up a used car before you trade it in. You won’t recapture the money you spent on the repairs. Dealers can make repairs less expensive than you can. And you are selling to a wholesaler who then needs to sell the car to an end-user and make a profit.
Selling a home is a different matter. You, the homeowner, are selling the home to an end-user. Your buyer will be spending all their cash on a down payment and purchase costs, they won’t have money to spend on repairs or decorating the home. A buyer will have to live in the home “as is” for a while so a home that is refurbished, up-to-date, and ready to move into will be more appealing.
It is less economical for the buyer to get a home improvement loan after the sale because it would be a separate loan at a higher interest rate. This would make their monthly payout higher than just having a mortgage payment.
As a seller, you might experience some inconvenience going through a remodeling process, but it will most likely, give you a higher sales price in less time. Go ahead and get this work done before you put the home on the market. Not all buyers have the imagination to know what the home will look like after it is finished.
The most important rooms to update are the bathrooms and kitchens. You can have the cabinets painted. Replace the countertops with new material. Update your appliances. Paint, countertops, and new fixtures can give the home an updated and great feel.
Additionally, give the home a major cleaning and decluttering. This will freshen up the home and give it a better feel than your competition.
The first step is to go through your home and pack up or get rid of things you don’t need or things that detract from the home like excess furniture, exercise equipment, personal artwork, etc. Now, do the same with the closets and cabinets. Get rid of things, there will be more room and they’ll look larger.
Then step back from your home and give it a critical eye. How is your curb appeal? Would you want to see the inside if you were a buyer? Is the landscaping groomed? Any flowers? Is the front door clean and clear? How about the mailbox? Does your home need a power wash? What about the windows?
Buyers are visual people and beauty is always rewarded. Restaurants know that people eat with their eyes first and they go to a lot of effort to plate the food so it is visually appealing. The same approach works for selling a home. Ask your agent if they have ever taken a buyer to a home that refused to go inside because they didn’t like the looks from the street.
As a real estate professional, I can make specific recommendations and assist you in finding someone to do the work. This is what I do. TRUST ME!
I can provide Insider Information on Fairfax VA homes for sale. Get you a FREE Market Snapshot Report of Your Northern Virginia Home’s Value, or Search All Northern Virginia Homes For Sale. Put that data you need at the tips of your fingers!