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Recently, a lot of sellers have been asking me, “Should I make repairs before listing my home?” The short answer is yes. While we’re still in a seller’s market, we’re currently at a two-month supply of inventory here in L.A. County, which is 25% of where it was a year ago. However, this is still far short of the 4 to 6 months supply required for a balanced market.
The truth is that there aren’t as many buyers as there were during the peak just a couple of years ago. The good news? Buyers who are still looking to purchase a home in this environment are very serious about moving. But due to higher interest rates and increased home prices, your property needs to be in great condition to stand out. That’s why today, I’m sharing three things you can do to get your home in optimal condition before selling:
1. Have a pre-listing meeting. Meet with your agent before you list to go over which repairs are really worth it. Your agent will provide valuable insight into what repairs you should focus on. Not every fix is worth your hard-earned money, so invest in repairs that will improve your home’s condition and net you a higher return on your investment. It might also be worth paying for a pre-inspection before you list. This way, you can find exactly what might turn buyers away and fix it before hitting the open market. This approach usually attracts stronger offers and more motivated buyers.
2. Choose between cosmetic and high-maintenance repairs. Most repairs fall into one of two categories: cosmetic repairs and high-maintenance repairs. Cosmetic repairs are usually optional and won’t be a sticking point in negotiations. However, these repairs make your home more appealing to buyers. Meanwhile, high-maintenance repairs take longer and require a larger investment because they address major issues that need to be fixed if you want the best offers from buyers. Work closely with your realtor to find the perfect balance between what the market requires and what you’re able to commit to financially and time-wise.
3. Decide if you want to sell as-is. Sometimes, selling as-is might make more sense if the repairs are too costly or time-consuming. Listing your home as-is means you’re upfront with buyers that they should expect to make some repairs. This approach might attract investors or buyers looking for a fixer-upper. However, be aware that if someone is buying a house as-is, they’re likely going to want to pay less than someone who has the option to get a home inspection done. In most cases, I recommend sellers make repairs before listing, and it’s more important in this market than it has been in a long time.
In today’s market, ensuring your home is in the best possible condition is crucial to attract serious buyers and achieve the best possible sale price. If you’re wondering which repairs are worth doing or want to discuss a pre-listing strategy, just give us a call or send us an email.
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