Tips for selling a fixer-upper

RE.com Tips & Tools — Tue, 16 Jan 2007 20:37:00 GMT

Sometimes it's better to sell your home "as is" than to spend money on expensive repairs.

Looking to sell your home but worried about the condition it’s in? You may be better off reducing the price than paying for expensive upgrades. And by making a few minor improvements, you may even be able to get close to market price. Here’s how to attract potential buyers:

Tidy up

Get rid of distractions to the main draw -- your house. Clean up clutter on counters, tabletops and floors -- including family photos and collectibles. Organize your closets. Put away children’s toys. And get rid of excess furniture to make rooms appear more spacious, even if you have to put it in storage for a few weeks.

Keep it clean

Make sure your kitchen, bathroom, appliances, windows, skylights and floors are spotless. Have the carpets professionally cleaned (or remove stained area rugs, if there’s solid hardwood underneath). Clean dingy curtains, or take them down and put plants in the windows. Allow plenty of room for natural light to flood in.

Make minor cosmetic improvements

You’ll be amazed how much more appealing your place will look if you repair cracked drywall, replace broken light switches, put a fresh coat of neutral color paint on all the walls and install light bulbs with the maximum wattage your fixtures will safely allow.

Add curb appeal

Welcome people in with a light over the door, clean drain gutters, a well-tended garden, a mowed front lawn (or shovelled driveway) and a front walk and steps in good repair.

Create a pleasant atmosphere

Light the fire, bake cookies and put out fresh flowers. Offensive odors can turn potential buyers off instantly. Pleasant smells have the opposite effect.

Make sure the plumbing works

Fix any broken faucets or defective toilets. You needn’t spend a fortune on expensive bathroom upgrades but make sure the basic plumbing is functioning properly.

Get rid of infestation

You should do this for your own health and safety, not just to sell your place. Call in a pest-control company if you have termites, cockroaches or mice. And keep the documentation for potential buyers.

Ask your real estate professional for more advice

A real estate agent may be able to suggest ways you can “stage” your home to make it look as appealing as possible. He or she may also be able to provide tips on how to invest a few hundred dollars to get thousands more back in your selling price.

Should You Buy a Fixer-Upper?

RE.com Tips & Tools — Thu, 11 Jan 2007 20:45:00 GMT

Essential repairs can turn a dream home into a nightmare; it's important to know how to assess when it's best to walk away from a purchase

Here are some tips to help you tell a fixer-upper from a money pit:

Structural problems are expensive. Look for doors and windows that don’t fit properly; cracks in the foundation; brick veneer rather than brick construction; lifting floor tiles; leaning walls and floors that aren’t level.
Old wiring can be a fire hazard. Ceramic knobs that support cloth-covered wires between joists or studs (knob-and-tube wiring) will need to be replaced.
The waterworks should run clear. Flush all the toilets and turn on all the taps. You don’t want leaks or discolored water, which may be a sign of rust build-up.
Beware of damaged plaster or drywall. If it’s damp, bulging or cracked, there could be an underlying problem in the ceilings or walls. Also, watch out for rough or recent repair jobs that may mask trouble.
Track the invaders. Wherever wood comes into contact with brick and soil, there can be problems, so look for tell-tale signs. Carpenter ants leave piles of sawdust near the wet wood they live in. Termites leave mud tubes on beams and boards. Dry rot, a fungus, shows up as small brown spots on damp timber. Although these can all be easily treated, the structural damage that may have occurred can be significant.
Water damage can mean many things. Check it out. Stains on a ceiling can indicate a new roof is needed or that a toilet is leaking. A musty basement could mean a damp foundation or a backed-up drain. Flaking paint in a bathroom is a sign of moisture trouble.
Is it ongoing maintenance or an emergency repair? It’s important to decide. Remember that eventually every furnace needs to be replaced. But can that be done at a later date, or is the furnace leaking carbon monoxide now? Is the roof nearing the end of its life, or are shingles dropping off every time the wind blows? Is the fridge a few years out of date, or does it not keep the food cold?
Is it just a little the worse for wear? Dirty carpets, old-fashioned wallpaper and ho-hum tiles are not inviting, but they are also not deal-breakers. These are relatively inexpensive to replace. A house that’s just a little worse for wear may actually be a great bargain.

Tips & Tools : fixer-upper