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Owners Connect dot Com » Repairs are Needed

Owners Connect dot Com

Repairs are Needed

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One of the most frequently asked questions … should I make the repairs now?  The answer is maybe, or it depends.  Any truly glaring problems with a home such as major structural damage or a leaking roof will definately need to be repaired in order to qualify for mortgage financing.  You are better to do them on your terms before exposing your home for sale.

If, on the other hand there are things that may require repair, but involve issues of personal taste, it is sometimes better to leave an allowance for those items in the sale price.  Examples might be residing or major repainting, where the buyer might well like a different color than you might select.

Many repairs will actually net more in resale than the cost of doing them.  Good examples might be the addition of a bathroom, or a fireplace.  Consumer Reports Magazine published a book a few years ago that will give you information about major repairs.  Many other major renovations will simply drain your pocket book and gain you nothing in resale value.