We all have a "to fix" list at home, but keep in mind that not all repairs will help sell your home. Its important to prioritize your repairs for maximum return when getting ready to list your home. Here are just a few suggestions to assist in decision on which repairs to focus on in the interest of the sale.
A recent study found that not all repairs are created equal and thus the need to create a good, solid fix-it list to work on in order to take the guess-work out of where to spend your repair moneys is very important. The top four areas that should be on your list are: clean and de-clutter, brighten and lighten, setting up the home for selling, and lastly, landscape the front and back yards. The ROI (Return on Investment) depends on what you need to repair and sometimes it depends on which part of the country you live in.
In California, cleaning and de-cluttering can create an 837 percent ROI whereas setting up the home for sale may net a 340 percent ROI. Landscaping the front and back yards can bring in a 415 percent ROI. However, these different repairs can range from a few dollars to several hundred dollars but in turn can reap thousands in profit.
Other top items on the study's list of repairs were fixing electrical and plumbing problems, carpeting, painting inside and out, flooring, and updating the kitchen and bathrooms as well as routine maintenance items.
One very common mistake is not dealing with the floors because if the carpet is dirty it might be better to just pull it up and show off those nice beautiful floors but make sure to clean them and give them a quick shine.
Combining all the listed repairs above can range in price from $5,000 - $8,000, but, your ROI could be as high as $22,762. Today, with the amount of inventory out there, these basic repairs will be sure to place your home in the upper ranks.