Selling a home can be a complex, confusing process, but one ‘no-duh’ factor we can all agree on is that it needs to be in good condition if you want to make a decent profit. The question: What do you actually need to do? There are a hundred things you could spend time and money on, but which ones are actually important? 

Let’s talk about it.

Spruce Up Outdoor Curb Appeal

The first impression is often the most lasting, and when it comes to selling a home, curb appeal plays a pivotal role. Most buyers are more likely to be interested in a property that looks well-maintained from the outside than one that has the potential to be great. 

Assess the exterior of your home. How does it compare to your neighbors’ yards? If it’s lacking, consider the following:

• Repainting front door

• Repainting trim and shutters

• Cleaning up yard debris

• Repairing sidewalk and driveway cracks

• Replacing missing roof shingles

• Planting fresh flowers

• Spreading fresh mulch

• Cleaning outdoor windows

If you feel you need a handyman/ contractor to tackle some of the projects, consider finding someone on Craigslist or Nextdoor to help. You may even be able to bundle a few projects together to save money.

Address Minor Plumbing Issues

Leaky faucets, dripping pipes, and running toilets may seem like minor blips on your radar, but they can give the impression that your home is falling apart. Address any minor plumbing problems you may have and you’ll reassure buyers that you’ve taken care of your home. 

Hire a plumber if you don’t have any experience with plumbing. Buyers who have owned a few houses before will know what to look for, and it’s always best to cut them off before they make any discoveries. 

Fix Electrical Problems

Faulty wiring and outdated electrical systems are actually serious business, so hire a licensed electrician to inspect your home's system before you put it up for sale. In addition to checking out your home’s electrical panel, consider asking him or her to replace malfunctioning outlets and switches, too. A safe and reliable electrical system is a must for an easy sale.

Paint Interior Walls

Neutral colors are generally recommended as they appeal to a broader range of potential buyers, but if you already put up some flashy colors throughout your home, you don’t have to paint over all of your hard work. The key is that your home’s walls not look like they need a paint job.  

Repair cracks or holes in your walls with spackle before sanding and painting. Also take the time to caulk between any gaps in your moulding. This simple, effective step can help sell your home faster than anything else on this list, believe it or not.

Repair Flooring

Buyers quickly notice the condition of a home’s flooring, so it should come as no surprise that worn-out, chipped or scratched flooring can detract from your home’s overall appeal. If it’s within your budget, consider replacing or repairing what you can. If you have hardwood floors, simply refinishing them can breathe new life into your entire home.

If you have carpet with a lot of stains on it and know the stains won’t come out, we don’t recommend spending thousands of dollars to have it replaced. Instead, consider offering a carpet allowance to buyers. 

Modernize Kitchen

It’s easy to spend tens of thousands of dollars on a kitchen remodel, which we also don’t recommend. There’s no guarantee you’ll recoup your investment, or that the homebuyer won’t immediately tear down everything you do. But there are a few easy things you can do, such as update outdated fixtures, replace worn-out cabinet hardware, and regrout tile lines. 

Depending on the size of your kitchen, a new backsplash may be a good idea, too. New backsplash installations generally run between $500 and $1,300, but if you just do the wall perpendicular to your stove top, it’s much cheaper (especially if you can do the install yourself).

Overall, don’t break the bank, but do what you can to spruce up your kitchen. Even homebuyers who mostly eat out want a modern kitchen. If it feels dated, you’re likely not going to get too many offers. 

Patch Up Roof and Gutters

A well-maintained roof is crucial for the longevity of any home, so it’s a good idea to address any issues that might come up in an inspection if you can—especially if it’s obvious from the street that your home’s roof needs work. Some potential buyers like to use roofs as a key reason for low ball offers, but most will simply walk away if it looks too bad.

While it’s a big ticket item, think about it logically: Homebuyers would rather pay more for a home with a good roof than buy a lower priced home with a bad roof. Why? Roofs cost a lot of money.

A $300,000 mortgage with a 7% interest rate would have a monthly payment of about $1,996. A $310,000 mortgage, on the other hand, would only have a monthly payment of $2,062. While we can’t speak for everyone, a $66 mortgage difference is easier to deal with than a roofing bill of $10,000. One requires a hefty savings amount in the not-so-distant future while the other does not. 

Also, we must assume that the buyer will likely have exhausted their savings after making a down payment and closing on a house. If they were to only contribute $66 to savings each month, it would take them thirteen years to save up to $10,000. The math simply doesn’t check out for many buyers.

As with your home’s carpet, you could do a roofing allowance to attract buyers if you can’t afford to do anything about your home’s roof. However, you have to get their interest first. If your roof looks really bad, you may not be able to get their attention long enough to offer one.

Conclusion

It’s not your job to worry about other peoples’ future finances, but you do need to think about their pain points. If something about your home will prevent buyers from making an offer, and it’s within your power to do something about it, do so. By investing in a few repairs and renovations, you will not only increase the likelihood of a successful sale but will improve your odds of getting a great price.