Okay, don’t panic.
You may be one of the homeowners complaining about how difficult it has been to sell your home. — isn’t completely destroyed by the flood of foreclosures that are expected to hit the market due to the recent $25 billion “robo-signing”Mortgage settlement.
Studies have shown that your property’s value can take a further 4 percent hit if it is within a quarter-mile of a foreclosure. However, most buyers are not interested in homes that aren’t. “move-in-ready,”If yours isn’t, then you have a problem.
“Buyers generally look at ‘as-is’ properties that need work, and say ‘I’ll pass,'”Patsy O’Neill is a Sotheby’s Montclair sales associate. “That’s why I tell clients it’s worth making certain strategic fixes if they’re looking for quicker and more profitable sales.”
Also, which “fixes”Are they worth it? Continue reading:
It’s worth it: Fixing safety and maintenance issues. What would you do if your house had faulty wiring? That’s enough.
Not worth it: Major bathroom renovations. “Whatever you do might not suit the buyer,” says O’Neill, “and meanwhile, you’d have spent as much as tens of thousands of dollars.”This means that you should stick to repairing shower doors and saving your dreams of a modern spa for your new home.
Removing old carpeting is worth it. It doesn’t matter if you replace the carpet with new carpets, or refinish your underlying wood floor. What matters is getting rid of an eyesore.
Major kitchen renovations are not worth it. Similar “taste”Issue as above.
It’s worth it: Anything that improves “curb appeal.”Prospective buyers will notice your roof before they even get out of their cars. “It’s a huge turn-off,” says O’Neill, “and makes buyers predisposed to find even more things they don’t like.”If youre looking to improve your overall health, roof needs replacingGAF is the largest North American roofing manufacturer. The Value Collection Lifetime Designer Shingles have the luxury look but are very affordable.www.gaf.com
It’s not worth it: Anything that shouts clutter. The less you have “you”The more desirable the location, the more likely potential buyers will be to envision themselves happy living there.
