Should I Make Repairs Before Listing My Home?

By Jason Giulieri

Jason, originally from the sunny Australian coast has lived in New York for over a decade. He has more than 20 years experience as a real estate investor with expertise in residential rentals; single family and multi-family renovations; and sales. Jason has extertise serving a varied clientele including first time home buyers, those up or downsizing and investors seeking to grow their portfolio.

Recently, a lot of sellers have been asking me, “Should I make repairs before listing my home?” The short answer is maybe. If you have the funds, you should repair anything that’s going to stand out. Leaks, a hole in the dry wall from any over enthusiastic game of indoor football, etc. If you don’t have the funds, prefer not to out lay money or don’t want to deal with the frustration of contractors then it may be something that’s easily dealt with as a credit to the buyer at the closing table. Something that’s less of a repair and more of an update to a kitchen or bathroom may not be worth it. Your taste will likely differ from buyers taste. Before you commit to spending money and doing work is a great time to meet with a local Realtor expert like myself for a pre-listing consultation to determine the best option. That’s why today, I’m sharing three things you can do to get your home in perfect market condition before selling:

1. Have a pre-listing meeting. Meet with your agent before you list to go over which repairs are really worth it. Not every fix is worth your hard-earned money, so invest in repairs that will improve your home’s condition and net you a higher return on your investment. It might be worth it to pay for a pre-inspection before you list. This way, you can find exactly what might turn buyers away and fix it before you hit the open market.

2. Choose between cosmetic and high-maintenance repairs. Most repairs fall into one of two categories: cosmetic repairs and high-maintenance repairs. Cosmetic repairs are usually optional and won’t be a sticking point in negotiations. However, they can net you a higher return on your investment. High-maintenance repairs take longer and require a larger investment, but they often fix major issues that need to be addressed if you want good offers from buyers.

3. Proper repairs expand your buyer pool. The condition of your home is the most important factor you can control when selling because it expands your buyer pool. In today’s market, there are fewer buyers due to interest rates and higher home prices; however, you can still attract a lot of demand with a property in good condition. If you do the proper repairs, you’ll have more offers coming in from better-qualified buyers. Work closely with your agent to create a strong marketing strategy, and you might even create a bidding war and naturally drive up your price.

I always recommend sellers do repairs before listing, but it’s more important in this market than it ever has been before. If you’re wondering which repairs are worth doing or want to discuss a pre-listing strategy, just give me a call or send me an email. I’d love to hear from you!