Fix It or Not? What to Know When Prepping Your Home for Sale in Chicago
When prepping your home for sale in Chicago, there are two different types of issues you may want to address before putting your house on the market: ones that buyers will notice and ones that they might not see so easily. Some problems, like broken windows or leaky faucets, can be easily fixed and will give buyers peace of mind when deciding whether to buy your home. However, more significant problems, like cracked foundations or structural damage, are best left alone until you have time to consult with an expert home renovation Chicago contractor who can recommend if they need fixing and how to go about doing it correctly.
Almost every homeowner has a question in mind: how much should I fix up before putting my home on the market. Obviously, it’s not always easy to know what to fix and what to leave alone before putting your Chicago home on the market; that’s why we have come up with these eight questions that you should ask yourself when it comes to making any modifications to prep a house for sale in Chicago.
These three questions will help you know about the real estate market in your region:
How hot or cold is the real estate market in your area?
If your area is a seller’s market, then there is less room for error. Buyers are numerous, so you need to ensure that your house is one of the ones they want. If it’s a buyer’s market, you have more leeway in terms of what might be a deal-breaker for buyers. There are no bad neighborhoods, but that isn’t exactly true. So, check local real estate listings for your neighborhood. Are there similar homes on sale now? How many? How much are they selling for? These important details help determine how hot or cold your market is at a given time.
If you’re considering selling, pay attention to these numbers and try to get an idea of how quickly homes in your area sell. If a house stays on sale for months without selling, then odds are buyers aren’t biting because there isn’t enough demand. However, if homes sell within days or weeks, buyers are more aggressive and willing to act fast (if they like what they see). This helps you gauge whether it’s a good time to put your home on sale in Chicago.
How quickly do you want to sell?
How quickly you want to sell your home depends on how quickly you need cash, how long you plan on staying in town, and what stage of life you’re at. These considerations should help you determine what condition is acceptable for pre-sale. For example, if your family plans on staying put for a few years and has a lot of money saved, it may be worth investing time into updating an older kitchen or bathroom. If, however, you need immediate cash flow (like most people do), some items fall into two categories. Must-fix items that will make your home sellable now versus nice-to-have items that can be worked on later once some urgency has been removed from your sale timeline.
What is the current market situation for similar houses?
To understand how much fixing up your home should get done, you need to know what kinds of homes are currently on sale. How old is your home? How many bedrooms/bathrooms does it have? If it’s relatively new or recently renovated, you might be able to get away with leaving certain items as they are. While you’re getting your home staged, try not to go overboard; remember that buyers generally make offers based on comparable rather than what you spent on a paint job or some new flooring. You might not feel like painting every room in your house when you sell, but that’s okay if comparable homes don’t include fresh paint jobs.
To Fix or Not to Fix: Deciding Which Fixes Are Worth Attempting
Is the faulty item giving the impression that the home has not been adequately maintained?
If so, you may want to repair or replace it. It’s a big red flag if a potential buyer sees something that looks broken or needs attention. Don’t wait until you have an offer; many home remodeling Chicago experts recommend addressing any issues that need repair during your pre-listing walkthrough. Essential items, such as a garbage disposal or stove, should be repaired or replaced. However, replace non-essential items only if they aren’t working properly or your potential buyer doesn’t like them. You don’t want a buyer to think you haven’t taken care of your home or that you didn’t bother trying to sell it until now.
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Can you come up with a less expensive solution?
Finding a less expensive fix might seem like a fantastic idea, and sometimes it is! But that’s not always true. It depends on what type of fix you are looking at. First, let’s break down common home renovations into three categories: aesthetic (cosmetic), functional, and structural (professional home remodeling contractors must do these). An example of an aesthetic repair would be repainting your living room walls or fixing up your kitchen cabinets. A functional repair would include replacing worn-out appliances or installing new flooring throughout your house. Structural fixes would involve adding insulation or foundation work, for example. So, when preparing a home for sale in Chicago, consider all these changes carefully.
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Is it one of the first things prospective buyers notice?
When it comes time to put your home on the market in Chicago, you’ll be faced with several decisions. First and foremost, you’ll have to decide if you want (or can afford) to fix things that aren’t absolutely necessary. While there’s no hard-and-fast rule for what needs fixing versus what doesn’t, here are a few guidelines: If something will make your home sell faster or for more money, consider investing in repairs. Anything you see as an opportunity for improvement is worth putting some effort into improving. Otherwise, consider leaving things alone—it won’t hurt your sale price if buyers don’t see them first when they walk through your door.
Could it be a deal-breaker?
Ten-foot ceilings or marble countertops may make a home feel luxurious, but could they cost you a sale? Before you go dropping tens of thousands of dollars on home remodeling Chicago projects with little long-term value, think about how long your home will be on the market. If it’s more than six months, making upgrades that increase curb appeal and sales price may not be worth it. On the other hand, if it’s only a matter of weeks before your house goes under contract, all bets are off—it might be time to start taking out your checkbook.
So, doing some prep work is essential before putting your house for sale in Chicago. Buyers want their money’s worth. And that means you want your home to shine above all others, from top to bottom. It doesn’t matter how great a neighborhood is or how much you love your house; if buyers aren’t impressed with your place, they won’t buy it. But all too often, sellers spend more time preparing for an open house than they do prepping their home for sale in Chicago. In fact, most sellers (79 percent) don’t know what they should do before listing their home at all!
If you plan to sell your home as soon as possible in Chicago, then consider some renovation to get the top dollars of your property. Contact Homednb to hire a reliable home remodeling contractor to help you prep your home for sale in Chicago. We make the complete home renovation process transparent and hassle-free with vetted contractors, secured payment protection methods, and expertise to manage and monitor your project from start to finish!
Register at our website as a customer, submit your project details and let us find a reliable contractor in your area to help you prep your home for sale in Chicago with the required renovations.