Garnering a high sales price depends upon many things – today we will discuss maintenance. Once you declutter and make the home look appealing from the outside you need to make sure there is no outstanding maintenance that needs attention. Does your air conditioner and heater function properly? Do the roof and/or gutters need replacing? Major items that are not in good condition will cost you more by not having them repaired than if they are fully functional. When potential buyers evaluate a home they look at what they have to do in order to move in beginning with the items that cost the most or are used on a regular basis. Energy efficiency is also considered so take a look at your windows – are they dual pane?
Regardless of what the actual cost is to replace the items buyers typically inflate that price because of the inconvenience to them. As an example you may know major items will only $10,000 to repair but that may translate into a $15,000 deduction in their mind. Taking care of routine maintenance should be done on an ongoing basis while you own the property so you don’t have to worry about it when you do decide to eventually sale. It also lets you enjoy the improvements.
A good general rule of thumb is to set aside 1% of the value of your home yearly for maintenance and upgrades. Of course, you may not need that money every year but if you set aside the funds in a special account it is there when you need it and the financial burden is lessened. It also allows you as a seller to have more enjoyment of your home while you own it.