Do you need to fix everything before you sell? The answer is usually no.
This is a question I get a lot, and what some sellers don’t understand is that some projects, buyers don’t really care about, while other improvements could have made a huge difference. Not all repairs are created equal.
Hi, I’m Terry Tucker, Realtor with eXp Realty, I’ve been helping people buy and sell homes right here in the San Ramon Valley for the last 30 years!
Here’s an example of two different improvements and the dramatic difference in the results (according to the National Association of Realtors). The first is a $55,000 kitchen remodel. If you go through the hassle of making this improvement, you might get 60 to 70% of your investment back. It actually costs you money. The second, a fresh interior paint job and a new front door. That costs maybe $14,000, and that could get you back an additional $10,500 – $14,000 on your investment or up to 100% return. The math is completely different, and most sellers don’t know the difference before they start writing checks.
In the East Bay market right now, buyers care about move-in readiness. They care about floors and a fresh coat of paint. But yeah . . . I also do understand that they care about the big ticket items as well. They care if the roof needs replacing, they care if the electrical is so old that insurance is requiring it be replaced. They don’t care as much about things as long as they work and will last a reasonable amount of time. That’s the reality.
So do you need to fix everything before you sell? The answer is usually no. But before you start any upgrades, get a plan. Know what repairs are actually going to move the needle in your market, and which ones are just going to drain your bank account.
That’s the difference between a smart sale and leaving money on the table.
If you’re considering selling and want to know which repairs are worth it and which ones aren’t, send me a message. I’m Terry Tucker and I’m an award-winning Realtor for the past three decades. Reach out to me today and let’s talk strategy!
