The sale of a home is a major financial milestone, but many homeowners stumble by being penny wise and pound foolish. If you don’t set issues to rest before you put your home on the market, you’ll drive down the price.
Many municipalities will require their building departments to inspect the property for health and safety concerns prior to allowing the transfer of the property to happen. Contact your local city hall for more information on that issue. But that’s just for starters. A pre-sale inspection can save you thousands of dollars in home value while only costing a few hundred dollars to conduct. A home inspector will identify issues through the eyes of buyers as well as local inspectors.
This will also allow you to have a smooth transaction once a buyer is located. Remember, a $500 repair could result in a larger credit requested by the buyer. The average buyer will not know what a true amount will be to repair the issue and will ask for more just in case.
Another reason for having a home inspection conducted is the unknown. I cannot tell you how many deals fall apart because of it. They don’t fall apart because of the sellers do not want to repair the issue, but because the issue scares the buyers away even though it can be repaired correctly and quickly. Many times the issue is not a big deal but to a first-time homebuyer it can be.
How many homes are for sale in your area right now? Give yourself the edge by informing all potential buyer through your broker about the thousands of dollars you have poured into the home. By pointing out all the repairs you’ve made, you could give yourself a crucial competitive advantage. Your home will have the potential to sell more quickly and for a higher return on your investment!