When it comes to selling or purchasing a home, there is one thing in common buyers and sellers share. This is the need to address issues in terms of repairs to the home. Some sellers will often deem it too expensive to include in the purchase while others may simply attempt to hide them. This can be a very frustrating thing for homebuyers as they may be stuck with a lengthy legal battle as well as a rundown home. The following list includes some of the things you should look out for as a homebuyer and/or a seller.
Both home sellers and buyers will most likely take a look at the property thoroughly. Some of the repairs may be either cheap or easily fixed and should not really matter in the final purchase price. However, there are those that are simply too big to ignore. These would include leaky pipes; a damaged roof; and the most dangerous of them all, mold within the walls. These repairs should be documented and negotiated on as they can be very expensive as well as time-consuming to fix.
Throughout the lifetime of a home, many of the smaller things within it will begin to wear down. This might not be an issue for you as a seller, but it does look bad in the eyes of a buyer. However, you don’t want to spend thousands of dollars on replacing kitchen cabinets with the best materials. The good thing is that you don’t have to. Buyers often want to imprint their own style onto the home. Thus, the best route to take is to find relatively cheap materials that can do the job and make your cabinets look great. For buyers, other items that should not affect your decision on a home include carpets, doors, windows and various other things that can be easily fixed.
It’s understandable as a buyer to want to avoid the bigger repairs. Any issues on a construction site may end up dealing with accidents and the average OSHA construction fines. This may reduce the price of the home during negotiations, but it can save you countless hours and money as construction budgets tend to exceed their limitations.
As a seller, your curb appeal is the first thing your real estate agent might tell you to work on before listing. This is because buyers tend to gravitate towards a well-kept lawn. A few coats of paint on your front door and trimming those hedges is often enough to really bring back life to your front yard. On the other hand, if you are a buyer and aren’t loving the curb appeal, you may need to ask yourself if repairing is as easy as trimming some bushes or if a whole crew will be needed.
There is no doubt about it. Purchasing or selling a home can be a very daunting experience. However, with the right strategy in place, you can begin to be better prepared for the various issues that might arise or be uncovered during the process. By adhering to the list above, you will have taken the first steps toward a successful transaction that both parties can be happy about.
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