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Prioritize Repairs and Maximize Payback

Time to sell your home? You’ll find that there are many considerations when deciding on an asking price.

Time to sell your home? You’ll find that there are many considerations when deciding on an asking price. A real estate professional provides you with information regarding the current market and what similar homes are selling for (or not!) in your area. However, the agent won’t decide your asking price – the ultimate determination is yours.

Condition is of the utmost importance – it’s a significant variable when buyers compare your home against others. Don’t be tempted to take the easy way out by pricing your home lower instead of making repairs.

You’ve heard it before – "image is everything." If your home doesn’t look as good as or better than the competition, you’re inviting fewer or no offers. Buyers look for the best value for their money and your home should display "pride of ownership." Take time now – before you list – to prioritize your repairs to maximize your payback. Take care of the big stuff first and then focus on minor cosmetics.

History shows that buyers offer $2 less for every $1 in needed repairs, so simply lowering the price yourself instead of making improvements will ultimately result in disaster – either no offers or offers so low that you can’t accept them. Take a professional’s advice – fix it now or pay big later.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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