Get Real: Home Repairs for the Seller

Posted by Beth Alois on November 2, 2011

This year has been a strong buyer’s market for theBrandywineValley real estate market. Home sellers must be on their toes to give their homes maximum appeal. Not only should sellers complete the home repairs they know must be made, they should also consider hiring a certified home inspector to thoroughly and impartially evaluate their properties.

If this inspection results in a fix-it list, review the list with your real estate professional to establish necessities and priorities. Depending on your budget and objectives, you may want to repair only items that could cause significant deterioration to your property, such as a leaky roof. Ideally, the closer you can get your home to “move-in-ready” status, the more likely you are to attract today’s cautious and demanding buyers.

Among the most common repairs and enhancements yielding immediate buyer appeal include:
• Paint inside and outside in neutral colors
• Steam clean or replace carpets
• Polish or replace hardwood floors
• Clean or re-grout kitchen and bathrooms
• Replace light fixtures
• Change light bulbs throughout and replace wall-switch covers
• Repair dripping faucets
• Fix sticking doors
• Repair broken fencing

Home sellers wanting to do more should consider the findings of Remodeling magazine’s 2010-’11 Cost vs. Value Report, released in December 2010. The survey used input from realtors in 80 cities to rank home remodeling projects according to those that bring the greatest cost recovered at sale. A good example for our area is a basement remodeling that costs $69,000 and has a resale value of $40,000; that is, the owner will recoup 58 percdent of the cost when selling the home.

Many of the top projects focus on exterior replacements, as replacements are generally less expensive than other types of projects and they add all-important curb-appeal, essential for today’s competitive market or any other.

The top projects, in terms of cost recouped, in the Cost vs. Value Report for the Philadelphia area include:
• Garage door replacement
• Siding replacement
• Addition of a wooden deck
• Window replacement, either wood or vinyl
• Addition of an attic bedroom.

When the dust clears and projects are complete, be sure that you and your real estate agent professionally document your repairs and enhancements; then share the report with prospective buyers. Walk prospects through the enhancements and include their costs.

A home in good condition demonstrates pride of ownership. Taking the time to make enhancements helps ensure your home is presented in its best-possible light, primed for sale.

*Jim DeFrank andBeth Alois can be reached at 610-388-3700. Prudential Fox & Roach is an independently owned and operated member of The Prudential Real Estate Affiliates, Inc., a Prudential company. Equal HousingOpportunity.