Congratulations! You’ve decided to sell your house. You have a small budget for minor repairs, but what should you do with your funds to get the most bang for your buck?
There are a handful of repairs you should consider to maximize the value that you receive when you sell.
- Replace the roof
If you have a leaky roof, no amount of ceiling paint will hide it, especially here in Florida with our volume of rain. While a $10,000 roof repair isn’t inexpensive, a homebuyer willing to purchase your house with a leaky roof will, generally, double discount the cost of repairing that roof. If you have a $150,000 house, but need a $10,000 roof repair, a buyer isn’t likely to offer over $130,000. Spending $10,000 here can effectively make you $20,000.
- Repaint the interior
Nothing freshens up the inside of a house like new paint. For a few hundred dollars and a DIY weekend (or two), you can assure your potential buyers that painting isn’t on their post-move-in to-do list. Choose neutral colors (light tans or light grays) for the walls. Select bright white for ceilings and trim. Consider removing “popcorn” ceiling textures if you have them; most buyers these days are turned off by the dated “popcorn” look.
- Repair damage flooring
Stained or marred flooring can ruin the otherwise great impression your house makes to potential buyers. Professionally cleaning carpets, tile (and grout), and vinyl flooring may remove stains very inexpensively. However, replace worn and torn carpeting; cracked and chipped tile floors; or damaged vinyl. Most flooring retailers (including the big box home stores) offer reasonably priced products and installation services.
- Restore plumbing operations
A running toilet or dripping faucet can quickly diminish a potential buyer’s interest, as they worry what other plumbing issues exist in your house. A toilet repair kit, ($10 – $15) which includes a replacement fill valve and new flapper, will take less than an hour to install and will keep the toilet quiet during every showing. Dripping faucets will take a bit more effort to correct, but can be as simple as tightening a loose handle or replacing a worn O-ring. For the non-DIYer, a call to your favorite plumber can get these repairs handled quickly.
- Resolve hinge issues
Squeaky entry doors and sagging cabinetry doors make a house appear (and sound) unmaintained. Use spray lubricant on entry (and room) door hinges (protect walls and trim with a rag) to eliminate most squeaks. Tighten the screws on sagging bathroom vanity and kitchen cabinet door hinges to straighten and align door pairs. Use spray lubricant here, too, if the cabinet doors creak.
These fixes can make big differences in both the amount of time your house is on the market and the final sales price you receive.
Alternatively, you could call us at McCoy Wyman. We buy homes As-Is (without you having to perform ANY repairs), without using a realtor (saving you 5%-7% in commissions), and can close in as little as 15 days (instead of 60-90 days for a traditional buyer). McCoy Wyman can help keep your repair funds, commission dollars, and two or three mortgage payments in your pocket. Call us today at 813-489-9600, for an As-Is, commission-free, fast-closing offer on your house within 48 hours.