Presale repairs
You'll want to fix up your home before you put it on the market. Even a minor flaw, like a leaky faucet, can dissuade potential buyers from making an offer. Unfortunately, that means you could be facing some hefty bills. A common rule of thumb is to budget at least 1 percent of your home's value annually for maintenance (you may need to at least double that for an older home). If you've been procrastinating on basic fixes, your catch-up costs could be in the thousands.
How to save. It pays to be a diligent homeowner over time, fixing problems as they emerge. But if you've neglected the small stuff, consider focusing on the flaws that would be most noticeable during showings, like hairline cracks, which a professional can fix for about $50 to $330. “You have to prioritize where you put your money,” says Julie McDonough, a real estate agent in Southern California. That said, don't hide significant flaws, and be sure to disclose issues in writing. You could be liable for not disclosing defects if you misrepresent the health of your house.
Presale home improvements
About 3 out of 4 home sellers make at least one home improvement before selling. According to a Houzz survey from a few years ago, people preparing to sell their home spend an average of $36,300 on renovations.
How to save. Unless parts of your house are certain to scare away buyers, skip the interior makeover. None of the 22 home improvements Remodeling magazine analyzed in its “2020 Cost vs. Value Report” fully recouped the homeowners’ investment when they sold their house. Instead, put money toward sprucing up the exterior. According to a recent study by the University of Texas at Arlington, homes with high curb appeal sell for an average of 7 percent more than homes that look less inviting from the street. To add a pop of color, you could pay a professional landscaper to install a flower bed, which can run from $300 to $3,000, depending on the size of the garden, HomeAdvisor reports. And while the landscaper's at it, get a full yard cleanup and some mulching, too.
Staging
Don't know the term? Today it's common to remove most or all of your possessions and replace them with rented furniture, art and rugs that show your home in a more contemporary and neutral way. After all, you're not trying to sell someone your old house — you're trying to sell someone his or her future house. In a survey by the National Association of Realtors, 17 percent of sellers’ agents said staging a home increases its dollar value between 6 percent and 10 percent. But staging costs can add up: Furnishing a 2,000-square-foot house can cost around $2,000 per month.
How to save. Rather than stage your entire home, stage the rooms that have the greatest impact on home buyers, recommends Chris Dossman, a real estate agent in Indianapolis. “The living room and kitchen are the most important,” she says. Staging two rooms would cost roughly $900 to $1,300 per month.
"selling" - Google News
May 06, 2021 at 02:00AM
https://ift.tt/3vXonlx
The Real Costs of Selling a Home - AARP
"selling" - Google News
https://ift.tt/2QuLHow
https://ift.tt/2VYfp89
Bagikan Berita Ini
0 Response to "The Real Costs of Selling a Home - AARP"
Post a Comment