Preparing Your Home for Sale on a Very Tight Budget
When you go to sell your home, you may very aware of what real estate agents always say:
Fix up your home to get the best price.
The recommendations run the gamut from fresh paint to a new kitchen. Frontdoor.com suggests that you put up to 15% of your home’s value into improvements. If you are selling your home to prevent foreclosure or for other financial reasons, putting a lot of money into the place may not be an option for you. What you will want to do is invest your time and money in the improvements that will do the most good. Ideally, you should get a home inspection so you know what problems your home might have. Even if you do not have the resources to fix too much, you can work with your real estate agent to plan two things:
Your course of action in making repairs with limited resources.
The best selling price point for your home, given that you are unable to make the type of improvements needed to get the best price.
Need to move but have little cash to prepare your home for moving?
The common wisdom used to be that you could get a home equity loan to finance repairs. With tightened credit requirements and falling home values, this is no longer good advice. (Try for it, but it probably won’t work!)
Even if you have minimal funds to work with, there are a few things that will help you sell:
First, freshen up the home to make it look “cared for.” De-clutter all the rooms. This step can both help your sale and help your moving plans. If you throw out, sell, or give away what you don’t need or want to take to your new home, you will have less to move. You can even start packing unused items in boxes, which you neatly stack in the garage or an out of the way place.
If you have lived in your home for a long time, the paint will probably need freshening up. Repaint the rooms in neutral colors to please most buyers. If you have wallpapered walls, at least make sure that all the seams and corners are glued down, unless you want to remove the old wallpaper and repaint. Texture paint can do wonders on damaged walls.
Your carpeting is one thing that the buyers will notice immediately when they walk in. If it’s old, soiled, and rippled, it will deter most buyers. Replace it if you can. If you know the floors underneath are good hardwood, then you might want to at least have the carpeting removed. If not, at least clean what you have.
Minor kitchen and bathroom remodels top the list of what will do the most to sell your home. If you can’t afford projects like this, make sure everything is clean, fix leaky faucets, re-grout tile where needed, and replace outdated light fixtures.
Outside your home, make sure bushes, plants, and lawns are neatly trimmed. Make any needed repairs to sidewalks, steps, railings, and porches.
When you are done, you home may not make it into House Beautiful, but if it is neat and clean, potential buyers are more likely to consider it. If it’s priced right, they are more likely to make an offer.
No money to fix your home? No time to do it? Then perhaps you should consider the Alberta Buyers solution. We will buy your home as is for cash. You can work out most of the details in a phone call, receive a cash advance, and be on your way to your new home within a couple weeks. Call 1-(403) 879-2502 or email info@albertabuyers.com. We can answer your questions about a way to leave your troubled financial past behind you and move on to a better life.
