You’ve decided to list your house, and before your first showing, you made sure that the lawn is perfectly manicured, your walls are painted neutral, you have a big mirror in the entryway, a strategically placed plant for a pop of color, and so on.
What could go wrong? You’ve done your homework, and you know what buyers like and care about when buying property. And one of the first things they look for once they start inspecting a house is – problems. That’s right, they’re trying to find everything and anything that’s wrong with the property, so if they happen to buy it, they know what they need to invest in repairs.
Leaks, old fixtures, and cracks in the walls are just some of the things that will put your buyers off because people usually want to buy a home, not a project. That’s not to say that there’s not a market for fixer-uppers, but unless that’s what you’re listing, you’ll want to make repairs first and schedule showings second.
Addressing Structural Issues
In case you don’t know where or how to start when thinking of house repairs/maintenance, here are 3 ways you can address all the structural issues:
1. Roofs and Gutters
The roof is one of the first things buyers will see, and it’s critical to the structure. If there are any signs of damage, you can bet your buyers will notice it. After all, things like missing shingles, sagging, or leaks are pretty hard to miss. If the roof is sturdy, your buyers will take it as a signal of quality, plus it will protect the house from water damage.
The gutters are just as important; if they’re clogged or damaged, the water will pool and damage the foundation and siding.
2. Cracks in the Foundation
A stable foundation is crucial for a safe home, but it’s also a critical factor in determining the worth/value of the house. Cracks in the foundation or settling will scare potential buyers because what looks to be a minor problem could as well be a symptom of more serious problems down the foundation. They don’t want to deal with those problems or take the risk.
What you can do is inspect the house thoroughly. Go around your basement walls and check for cracks, look out for any floors that are not level, and whether there are any windows and doors out of their frames.
3. Water Leaks and Mold
Water leaks can come from plumbing, the roof, or the basement, so the source can be a bit tricky to find. Nevertheless, it’s absolutely essential that you not only find the source, but take care of the leak, because they’re a huge red flag for buyers. Mold, which poses a health hazard, may also be a result of leaks, which can also signify water damage.
Do a plumbing assessment, check for moisture in the basement, and inspect the ceilings and walls for any signs of stains or flaking paint. In case mold happens to be there already, get it removed by a professional (so that it doesn’t come back).
Is all of this worth it?
The question many people struggle with is whether they should invest in their property so that they sell faster or get a better price, or should they simply sell the house as it is and leave all the repairs to the next owner.
Well, the numbers show that, in the U.S., “turnkey” properties (houses ready to move in without extra work) both sell faster AND attract more buyers compared to “fixer-uppers” (those requiring renovation/repairs).
The reason behind that is that buyers who went for fix-up houses, 53% of them went over the planned budget after the renovations and repairs were finished.
This is why buyers are willing to pay a premium (up to 15% more, depending on the city) for “turnkey” properties, simply to avoid the hassle that comes with the houses that require work.
Texas City Home Values Comparison
| City | Median Home Value (in $ USD) | Turnkey Home Value (in $ USD) | Fix-up Home Value (in $ USD) |
| Conroe | 353,975 | 407,071 | 265,481 |
| Dallas | 398,000 | 457,699 | 298,500 |
| Austin | 645,000 | 741,750 | 483,750 |
| San Antonio | 312,000 | 358,800 | 234,000 |
| Houston | 335,000 | 385,249 | 251,250 |
So, if you look at Austin, you could get approximately 95,000 (USD) more if you sell a house that has no issues. If you sell your house in Conroe, Texas, you can expect to get up to almost 55,000 (USD) more. Plus, on top of that, your property will also likely sell faster.
On the other hand, a ‘fixer-upper’ property in San Antonio would likely set you back by about $78,000. YIKES!
Conclusion
Welp… That seems like a lot of repairs. And let’s not sugarcoat it: there’s a decent number of things you’ll need to inspect and then possibly fix, so you’re probably looking at some expenses before you can earn money.
Once your house is beautifully well-kept and free of issues, go and sell it and give yourself a pat on the back for the restless effort of putting the house on the market, which is sure to sell in a short time, plus the selling price is (hopefully) more than what you’d anticipated!
