If you own a house in poor condition, a home that’s still stuck in the ‘70s, or a property that’s been sitting vacant for some time, you’ll more than likely need to fix up the place before selling. But it’s hard to know where to begin if several things need to be repaired or updated in your Minneapolis home. What repairs should you address first? What updates would bring a return on their investment?
Depending on your timeline and budget, you’ll need to figure out what you should fix before selling your home to attract buyers and get a good price for your home. Below we’ll figure out if you should fix up your home before selling, what repairs you’ll want to make, and updates that would add value to your property. So let’s get started!
Should You Fix Up Your House Before Selling?
First, you’ll want to figure out if you need to fix up your house or not before selling. If the home you’re trying to sell is an inherited property that hasn’t been updated in decades, more than likely, you’d be advised to update the place. If your home has several major repairs that you’re aware of, it will be necessary to address those before putting a for-sale sign in the yard.
But why is it important to fix up your place before selling? Most buyers are looking for move-in-ready homes that need very little work, if any, done to them. So to increase your chances of finding a buyer, you’ll want to address repairs first then consider making updates.
The next thing you’ll need to do is figure out your timeline and budget. If you need to sell your house quickly, you may be limited on what repairs or fixes you can make around the home. If you don’t need to sell your house right away but don’t have money set aside for repairs, that can also limit you. So you’ll need to sit down and figure out when you need to move and how much money you can spend on fixes around the house.
Another option if you need to sell your house fast or have several costly repairs that you can’t afford to make is to sell your house for cash to one of the several companies that buy houses in Minneapolis. Mill City Home Buyers is one such company that purchases houses in as-is condition. So you wouldn’t have to worry about making any repairs or updates to sell your house. They can also close in as little as 7-days or longer if need be. Working with a “we buy houses Minnesota” company would be a great way to sell your house without making expensive repairs or if you need to sell right away.
If you have the extra money and time to spare to make fixes to your home, the next step in the process is to figure out what you should fix up on your house.
What You Should Fix Up On Your House
Deciding what you should fix up on your home can be overwhelming. Should you replace the roof or update all your kitchen appliances? Would it be beneficial to redecorate? If you’re not sure where to start, begin with evaluating your home. Walkthrough the entire house with a notepad and start writing down things you notice that need to be repaired. When getting a house ready to sell, you want to start with repairs first, then if time and budget allow, consider making updates.
Once you’ve accessed the inside of the house, you’ll want to check out the exterior. Is there rotting wood that needs to be replaced? Are shingles missing from the roof? Any paint that is starting to chip? These are all things you’ll want to write down so you know what projects you should start with first. Here are some other house repairs and fixes you’ll want to consider doing before listing your Minnesota home.
Minor House Repairs
As you walk through your home and write down noticeable fixes, designate if those are major or minor repairs. Examples of minor repairs would include:
- Tightening a leaky faucet in the bathroom or kitchen
- Patching a hole in drywall
- Fixing or replacing a broken toilet lever
- Unclogging a toilet or sink drain
- Fixing any squeaky or sticky doors
The nice thing about minor house repairs is that they are usually something you can do on your own and don’t require many tools. By doing minor repairs by yourself, you’ll be able to save some money instead of hiring someone to do them. Worst case, if you don’t have the available tools or are unsure how to repair something, you can always find a handyman on Angi or Thumbtack.
Cosmetic House Repairs
Cosmetic house repairs are important because these are usually the ones easily noticed by prospective buyers walking through the house. Below are some examples of cosmetic repairs you’ll want to consider making around your home.
- Touch up paint on walls or consider painting to a neutral color
- Clean dirty grout in bathrooms and the kitchen
- Replace worn flooring or carpet. Refinish hardwood floors or have carpets professionally cleaned
- Update light fixtures and faucets or consider painting them
- Consider landscaping or at least weed the flower beds, trim hedges, mow the lawn and add some fresh mulch.
Most of these you can do on your own, or you can hire a professional to do them for you.
If the home you’re trying to sell is outdated, doing some redecorating can go a long way. Buyers are very visual, and sometimes a few simple changes can keep people to see the potential in your home. Here are a few tips on how to redecorate a house to sell.
- Paint rooms to neutral colors
- Paint or replace dated kitchen cabinets
- Replace hardware throughout the house with up to date colors
- Replace kitchen and bathroom pulls or knobs
- Replace light fixtures and faucets
- Replace outdated appliances with new ones
Another part of redecorating is staging your home to sell. You’ll want to declutter and put away any personal belongings or items. For example, family photos or school projects posted on the fridge. You will also want to take a look at the furniture in each room. Ensure the furniture you have isn’t too big for the space, and if it is, you’ll want to consider storing some items to create more room. Adding some curb appeal doesn’t hurt either. Consider adding some potted flowers by the front door, painting the door a different color, adding a new doormat or wreath. These are all easy, inexpensive decorations you can add to make your house show well.
Major House Repairs
You definitely want to make major house repairs before selling because significant issues can be a deal-breaker to a potential buyer. The ones you’ll want to address first, of course, tend to be the most expensive:
- Leaky roof
- Foundation problems
- Water damage
- Termite damage
- Fire damage
- Water heater
Some of these major repairs can cost thousands of dollars to fix, so you’ll either need to decide if you’ll pay out of pocket, make a repair allowance or consider selling your house as-is.
But you’re probably wondering, wouldn’t fixing up your home add value to it? We’ll answer that question next.
Will Fixing Up Your House Add Value To It?
Yes and no. When it comes to home repairs, they just help to keep your current value from falling, upgrades, on the other hand, can boost the value of your Minneapolis home. But certain updates see a better return on their investment than others. So you’ll want to choose wisely if you’d like to increase your property value.
Typically, bathrooms and kitchens carry the highest return as well as these other improvements:
- Replacing windows with more energy-efficient ones
- Replacing siding with fiber-cement or vinyl
- Changing the front door to a steel energy-efficient door
- Adding a deck
To give you other ideas of improvements to make, you’ll want to scope out your competition. You may discover that most of the houses have upgraded kitchens, so you’ll want to concentrate on updating your kitchen since these other listings will be your competition.
Just make sure you don’t over update because the average amount recouped for a house remodeling project is declining. Remodeling magazine surveyed a group of real estate professionals and noted this year’s average return on 21 popular remodeling projects came in at 66.5% nationwide, down from 68.6% in 2019. So just make sure you choose wisely and do your research before investing in several home improvement projects.
How to Sell Your House After You’ve Fixed It Up
Once you get everything done to your house, repairs, updates, cleaning, decluttering, staging, and adding curb appeal, it’s officially time to list your house. But how should you sell your home that you’ve worked so hard to fix up? Consider these options below:
Hire a Real Estate Agent
Typically people hire a listing agent to sell their Minneapolis home. Using a full-service agent would be helpful because they would handle the ins and outs of your home sale. But you’ll want to keep in mind that working with a real estate agent means paying a commission once your home sale is complete. The average real estate commission in Minnesota is 5.77% which is higher than the national average of 5.45%.
Consider Selling FSBO
To save some money since you’ve already probably spent a good amount on fixes around the house, you can always sell your house without a realtor. That could drop the potential commission cost down to only the buyer’s agent’s fee (2.5-3%). You’ll just need to figure out a competitive listing price, a marketing strategy, answer phone calls and emails from prospective buyers or their agents, show the property, host open houses, screen offers, negotiate, coordinate the closing, and fill out lots of paperwork. If you think you can handle all that, then selling FSBO may be for you.
Contact an iBuyer
Another option is selling to an iBuyer. iBuyer’s are companies that buy and sell houses online. The only thing is they usually have specific housing criteria that they’re looking for. And they can charge hefty service fees, sometimes even costing more than real estate agent commissions. So you’ll want to make sure their offer makes sense to you before selling to an iBuyer.
Before selling your house, make sure you learn as much as you can about the housing market in Minneapolis and the homes for sale in your area. Then consider which home repairs are most likely to give you the highest return on your investment. You’ll always want to keep in mind that making fixes around the house or even how you list your home doesn’t guarantee a fast sale.
So if you’d rather not deal with all the home repairs, extra expense, or uncertainty of selling your home after you’ve fixed it up, consider selling as-is to Mill City Home Buyers instead and avoid the hassle. So if you’re saying sell my house fast Plymouth or Minneapolis, contact Mill City Home Buyers today to get a cash offer for your Minneapolis home.