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Update your home before listing
You’ll want to leave some time in your sale timeline to make any necessary updates to your home. Both Huerkamp and Lanham share that updates aren’t as important in a seller’s market, where buyers are more willing to fix problems on their own if it means a shot at limited inventory. When buyers gain more leverage, however, they are less willing to buy houses that will require repair work on their part.
Regardless of the state of the market, recommended updates to boost your curb appeal and add property value include a fresh coat of paint and fixes on any glaring errors. Keep in mind that contractors are typically busiest in the spring and summer, so you’ll have to account for that when planning your home sale.
Most common repairs
Some faults in your house can come up in an appraisal or inspection and potentially impact your sale. Your real estate agent can help you decide what repairs need to be made before listing. Common fixes include foundation repair, electrical repair, plumbing repair, roof repair, and HVAC replacement.
While many buyers might overlook necessary repairs in a seller’s market, you’ll have to stay on top of minimum loan requirements mandated by the FHA and VA. Buyers with these loan types need an appraisal to meet safety requirements in order to get financing.
Updates for sellers to consider
The most common updates that Huerkamp suggests are a fresh coat of paint, carpet cleaning, and a deep clean of the entire home.
“Those are the three most popular things that we recommend to sellers,” he says. “Two of them, they can do themselves if they really have a good skill set of making sure everything’s totally clean with the deep clean and the painting.”
If you want to go for bigger updates, consider replacing outdated fixtures in your kitchen, such as appliances, countertops, or flooring. But make sure to talk to your real estate agent about what updates will get you the best return on investment.
List your home at the right time
Ultimately, the timing of your sale has to be right for your individual circumstances. For example, if you have to move for a job relocation or a new military placement, the timeline will be out of your control. In these instances, it’s best to sell your house as quickly as possible. HomeLight can connect you with an experienced agent who can help make the most of your sale, regardless of your timeline.
Header Image Source: (Roman Bozhko / Unsplash)
