My house is 20 years old and has a lot of things wrong with it in the inside as far as being very aged. What things NEED to be replaced, etc?
2006-06-28 14:06:32 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Repairs that need to be made are those that violate the housing code. If a lot of repairs are needed, you might want to have a home inspection performed before listing the house for sale. The inspector should tell you all the things that NEED to be fixed. Do not call the city or county; they may declare your house uninhabitable or worse.
The housing (building and fire safety code) violations will prevent a non-cash buyer from acquiring your home. You will need to make these repairs before a non-cash buyer can acquire the house. In most cases, these repairs have a better than cost return on the investment. If the toilet is broken, a repair might cost $100, but a buyer will pay $1,000 not to have to worry about why a toilet is broken in the first place.
For a cash buyer , these violations will significantly lower the offer for your house. Significantly means much more than the repair costs.
A house has a normal life of 40 to 60 years. A 20 year old house that has been typically maintained should not need a lot to be replaced to make it marketable, unless the house has not been maintained.
2006-06-28 16:07:30 · answer #1 · answered by fatalleycat41 3 · 2⤊ 0⤋
This is hard to answer without more information. Generally you want to make everything clean and neat. Fresh paint on the walls in a neutral color. Make obvious or hazardous repairs. Don't invest in rehabbing or major decorating. The average buyer is going to come in and change everything anyway. Your best bet is to consult with a Realtor and to get a comparative market study to determine the value of your home.
2006-06-28 14:18:07 · answer #2 · answered by etfrith 2 · 0⤊ 0⤋
That's largely up to negotiation between you, the buyer, and the lender.
Your real estate agent can advise what things you should work on to make your home as marketable as possible.
I'm getting ready to put my place on the market. It is rather tired inside; carpeting needs replacing and the kitchen is rather shop-worn but it all cleans up pretty well. The one thing that would stop any buyer cold was some water damage in the finished basement including rot in the rear wall. I had quotes in excess of $20,000 to rip the wall out and rebuild it. I got a buddy of mine who is pretty good with his hands but in the financial doldrums lately to help me do it myself. Materials ran less than $1,000.00 including 4 new good quality window units. I paid him $2,000 for two weeks labor and his son $500.00 as a helper. The job is done. It looks AMAZING! Another couple of hundred for some paint and I'll be ready for the market! My friend, who would not accept a hand-out, is in much better financial shape and his son is over the moon with his "goldmine". And I'm good to go for less than $4,000.00! Everybody wins! Well, everybody but the **** contractor who wanted 20 large, that is.
2006-06-28 14:23:20 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Windows need to be repaired. Doors need to work. No leaks.
2006-06-28 14:10:52 · answer #4 · answered by redunicorn 7 · 0⤊ 0⤋
Basic first
roof leaks , plumbing issues, electrical
then cosmetic second
Bathroom / kitchen floors, cabinets and so forth
do you have mold ??
2006-06-28 14:17:33 · answer #5 · answered by expressrestorationservices 1 · 0⤊ 0⤋