Home repairs can be small projects or major renovations, depending on the specific needs of the property. Real estate sales statistics clearly show that fixing problematic residential issues is a necessary investment prior to selling a home, since having outstanding structural or aesthetic concerns will diminish the value of the residence far more than the cost to fix the problems.
This guide investigates the types of property repairs that will create the highest return on investment, when selling a house or apartment.
Basic DIY Home Repairs
Simple repairs can often be made by the homeowner, by investing a small amount of money and some sweat equity into the residence. This is a great way to improve the home’s appeal without spending too much cash in the process. For homeowners without the ability to fix small problems, it is still possible to hire professional contractors for bargain-priced home improvements and small renovations.
Small repairs should always be done properly to prevent a recurrence of a troublesome issue for the new owner. Remember that using improper methods of fixing the cosmetics of a concern, without addressing the actual source, is both unethical and may even be illegal.
Extensive Home Repairs
Homeowners who plan on selling have to measure the worth of large renovations before investing the huge amounts of money sometimes needed to see the project through to completion. Although many home improvement projects, such as kitchen makeovers and bath makeovers, typically return dollar-for-dollar when the home is sold, the individual nature of the property still needs to be taken into account before spending a large sum on sizeable repairs.
If you and your real estate agent feel that the high cost of a large repair can be recouped, then there is no reason not to proceed confidently with even the most daunting jobs. However, if there is a doubt about the return on investment, it might be wise to consider a less costly option, such as a partial renovation or simply dealing with the worst of the issues and using less pricey tactics to improve the look and feel of the concerns that remain.
Home Staging Versus Repairs
Any problem which is a safety concern or a structural issue must be dealt with before placing the home for sale. If not, you are unlikely to sell at all, and if you do, it will be for an extremely sub-par offer. Serious cosmetic issues should be repaired and are likely to pay for themselves once the property is sold.
Remember that do it yourself techniques are always more work, but lower cost, when compared to hiring a professional for any task. Just be sure not to bite off more than you can chew, since botched DIY home renovations can wind up costing far more time, effort and money in the long run.