Buying A House

What Should You Not Fix When Selling A House?

Most of the time, when you are selling your house, you will have to make many changes in order to make a sale. Most sellers think that they need to fix it up and make it look nice before they can sell their home. This is because people equate the price of a home with its value. A broken piece of tile can cost $5 to replace, or enough for someone to want your property instead. View here to learn more.

Cosmetic damage

This is an emotional issue, and the type of damage it is.  If the agent shows up to your home to see the house for sale, he will not ask about what you fixed. He will see all of that as a part of your property, and won’t ask any questions about it.  He will only focus on how it looks when he visits. Everything you fix up can be seen as cosmetic damage because some people need to fix stuff up every time they move into a new place.

View to the street

When people look at your house, they can only see the front of your property. They don’t care what’s going on in the back, as long as they can look out and down the street. The more you have hidden away, the better.

Buying A House

Cleaning Up Some Much-Needed Work

Many sellers fix things that are truly broken before they sell their home. They spend a lot of unnecessary money on repairs when it becomes a problem to sell their property. Others fix up the exterior only to find out the water damaged the basement, or they spent money fixing a leak where you can’t see it.

The Broker / Agency Fees

Most agents charge their sellers 10% commission of the sale price when a house is sold.  When your home sells for $100,000, and you have fixed every piece of tile in your house, which adds up to a big chunk of money. That is not only the cost of everything you fixed up, it is also a loss on the value of your home. If you fix up a $100,000 house and it sells for $100,000, then why did you spend so much money on cosmetic damage?

Resale Value

The resale value is how much your property would be worth if it was in perfect condition. After all of this cosmetic damage, you take away from your home’s resale value. The more damaged or broken your house becomes, the less its resale value. You might think that if you fix up a $100,000 home you can sell it for $120,000 or even more. Most people’s perception of what their home is worth is usually much higher than the market value of the property.

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