Do you need to fix everything before you sell?
I hear this question all the time, and here’s what I tell sellers: some repairs add value, others cost money and don’t give you a return on your investment at closing. I’ve seen sellers spend thousands on projects that buyers didn’t care about, while ignoring smaller improvements that could have made a huge difference.
Hi, I’m Tanja Odzak, Realtor with eXp Realty, helping people sell and buy homes right here in the East Bay for the last 10 years!
Here’s the real issue. A $55,000 kitchen remodel might get you $33,000 – $38,500 or 60 – 70% of your investment back. A $14,000 fresh interior paint job and new front door? That could get you an additional $10,500 – $14,000 back based on your investment or 100% return on your original investment (This is according to the National Association of Realtors). 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 let’s face it . . . 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 to be replaced. They don’t care as long as things 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 Tanja Odzak and I’ve sold over $95 Million worth of homes and have a decade of experience, Call me today, and let’s talk strategy.