Selling your Chico home is a priority for you, but you know it needs a few repairs. Do you make them and sell, or do you hope to sell your home in its current condition? Repairs are frequently part of negotiations, and you might end up with less for your home if it needs major repairs.
Here are 10 good reasons to do home repairs before selling your Chico home.
- The problems may need to be fixed anyway.
During the inspection process, your inspector will find problems. You often have to either fix some of the problems or compensate the buyer in some other way (like with credits or a lower purchase price).
- You could save money.
Most of the repairs around your home are probably simple and inexpensive to do yourself. In fact, you could probably do most of the repairs around your home in a single day. Look for small projects such as ripped window screens, leaky faucets, uninsulated pipes within 5 feet of the water heater (Chico code), etc. If you take the time to take care of these items, you won’t have to hire someone (and therefore pay more) to do them, and your home will show better.
- Buyers won’t focus on the flaws.
If the home’s flaws are noticeable, they’ll be all that the buyer sees. If the buyer is focused on the flaws, he or she won’t be able to see all the potential in your home. Fix the flaws so the potential shines through.
- Better homes get better offers.
People will pay for value if they think your home is worth it. If your home looks to be in good condition, then your offers will reflect what your buyers think your home is really worth.
- Your price will be fair and accurate.
If your price is in the clouds compared to the quality of your house, then no one will make an offer on your home and it’ll sit on the market for a long time. To avoid multiple price reductions, make your Chico home’s condition worthy of the price you are asking.
- Last-minute repairs can get expensive
Calling a repair service or contractor out for a rapid fix can get very costly. You won’t have time to look at different contractors, so what they quote is what you’ll pay, even if it’s high. Do the repairs before you need to.
- You don’t want to have to rely on just the buyer’s numbers.
If you haven’t taken care of repairs in advance of marketing your home, your buyer may offer up an estimate of repairs from his/her contractor, and it may not look like a better priced quote that you could get. With the time crunch however, there might not be time to get competing estimates, which likely means you’ll have to go with the buyer’s numbers.
- Buyers might back off.
If an inspection turns up a lot of repairs, buyers may get cold feet and back out entirely. Few buyers want to deal with a long list of repairs, and they’ll turn to homes in better condition. Don’t lose a sale because you didn’t want to make repairs.
- More buyers will be attracted to your home.
A better home condition almost always brings in more buyers. Other agents will want to get their clients in to an attractive house, so you’ll have more competition, which means more demand, which means you will be selling your Chico home with higher offers coming in.
- Your closing won’t get delayed over repairs.
Without worrying about repairs, you and the buyer will have one less opportunity for the sale to get derailed. AND you won’t have to extend escrow because you can’t get negotiated repairs done in a timely fashion.