By Steve Nicholas, System To Sell- Cleveland, Ohio
Many Sellers today find themselves asking the question:
Should they fix up their home before they put it on the market or sell it as is?
An important consideration for many homeowners is to understand the motivations of a typical Buyer. Most Buyers want homes that are in move in condition with little or no work necessary so they can move their possessions in and start living in the home. They are concerned about the cost of repairs and most do not have the time and/or money to tackle them. This is confirmed by the fact that the homes in the best condition are shown more often and sell faster than homes that show poorly or need work.
On the flip side, there are some Buyers that actively seek out distressed properties that need work. This group of Buyers is prepared to put in the time and money to get the house in top condition. But it’s at a price. They expect a heavily discounted sales price to compensate them for their trouble.
Before the house is listed, a Seller should research comparable homes in the neighborhood that have sold or are currently for sale and analyze their condition, amenities, and quality of finishes. This information will give the Seller a good idea of the condition their house must be in order to compete. If the Seller wants to sell faster or for more money than the comparable homes, they must have a home in better condition, a better floor plan, a better kitchen, or have some other advantage to get the Buyer to pay more for their home over the others for sale in the neighborhood.
Savvy Sellers know they must also consider the cost of the improvements along with the market value of the home once the upgrades or repairs are made. The return on the investment (ROI) must warrant the cost of the improvement.
Whether you decide to make the necessary improvements or sell your home as is, the amount of equity you walk away with at closing will be determined by the choices you make long before you list your home.
Please contact SystemToSell at www.systemtosell.com or toll free at 1-8oo-456-7500 for guidance on the best repairs or improvements to make to be competitive to get the most equity out of your home.
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