When it comes time to sell your home, what can you do to maximize your property’s value? Today’s video is the first of my three-part series in which I’ll tell you how.
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Deferred maintenance is a key part of boosting your home’s value. But before I tell you how, we need to address what deferred maintenance even is.
If you asked this of multiple people, they’d probably give you different answers. In essence, doing deferred maintenance is the process of fixing any small issues that buyers would likely notice when they walked into your house. Maybe one of your doors sticks, a wall isn’t fully painted, or there’s a patch of rotted wood on your siding.
When a buyer walks through your home and notices these details, they tend to stick in the buyer’s mind. Depending on the buyer and the level of severity of these defects, not fixing them may push a buyer away from your home and onto a competitor’s listing.
If you really want to maximize your home’s value, take care of these repairs before they walk through. A home with fewer defects like these will allow a buyer to focus on the positives in your home rather than the minor negatives.
And let’s be honest: As a home seller, once you go under contract, you don’t really have many other ways to negotiate. Homebuyers, however, have about 18 different ways to get out of the contract.
Further still, doing your deferred maintenance may create a multiple-offer scenario, which will drive the purchase price of your home up. And, if a buyer feels privileged and fortunate to have been able to purchase your house, isn’t that the greatest indicator that your home has value?
Ultimately, deferred maintenance is definitely worth the time, effort, and resources—the relatively small amount you’d spend on making these repairs pales in comparison to the thousands you could make by taking those repairs.
If you have any questions about deferred maintenance or other real estate topics, please feel free to reach out to me. I’d love to speak with you and answer any questions you have.