Do you want your home to worth more money?
I mean lots more money? Tens of thousands more……???
Of course you do!
Is there some kind of secret? Something only members of the special club know? Some classified real estate trick?
Nope! None of the above.
Well, what is it then? Tell me already!
Drum roll please………… REGULAR MAINTENANCE!
Disappointed? I hope not and you shouldn’t be.
This is great news!
Home maintenance is not glamorous and most people don’t really like doing it. But if you knew it could add ten of thousands of dollars to the value of your home would you be more excited about it?
The reason it adds so much value to your home is because many people don’t do it!
As a Realtor I have seen many homes that have not been maintained (what we in the biz call deferred maintenance). And I have seen these homes sell for a fraction of what they could have had they simply been maintained.
And it’s my job to get them the most money for the house but……
If there has been too much deferred maintenance most people don’t have the money to fix it all at once.
Here is one example: This house had not been maintained for years and years. Here are just a few of the items that needed to be done:
- New furnace: $5000
- Paint exterior: $3900
- New carpet (smokers): $4200
- Paint interior (smokers): $2900
- Repair roof and replace some rotten fascia: $2750
- New front door: $2000
- Repair fallen fence: $1250
- Yard clean up: $1000
- GRAND TOTAL: $23,000
And the house will sell for thousands less for other deferred maintenance that the seller just couldn’t afford to fix.
Some of the above repairs will even prevent a buyer’s lender to approve their loan for the property like a leaky roof or a faulty furnace.
And if your potential buyer’s lender won’t approve the loan due to deferred maintenance you are really shooting yourself in the foot and taking on even more losses because you will only be able to sell to an all cash buyer. There are not very many all cash buyers and most of them are investors who will demand a deal.
So here’s a few links to some home maintenance checklists that we strongly encourage you to put into action.
So no secret sauce required!
Hope you’re now a little more excited about maintaining your home as it really is money in the bank for you!