Learn what things you need to consider fixing up before selling a house in Tennessee and get the best deal for your house.
Are you looking to sell your house in Tennessee but it has numerous problems like water damage? Are the door knobs falling apart, a ceiling fan isn’t working, and the house needs a new roof?
It may take longer to sell a fixer-upper, but you can get it done. You may need to choose a lower sale price. Yet, you can sell the home quicker if you complete some renovations.
Do you know what to fix up before selling a house? In this guide, you will learn about the importance of kitchen remodeling and renovating the bathrooms. Here’s what to fix up before selling a house in Tennessee.
Should You Fix Up Your House Before Selling in TN?
While it makes sense to fix up your house before selling it, you can save money and time by selling the home in its as-is condition. However, you will likely need to settle for a lower home sale price. You can sell your house that needs repairs to real estate investors. Cash home buyers in Memphis sellers are also great options for purchasing your home.
These home buying companies can quickly purchase your property in its as-is condition. Even homes that faced a fire can have potential buyers like real estate investors and house-flippers. If you need to sell quickly and don’t have time to fix up the house, then you should sell the house as-is.
Yet, if you want to get the highest sale price for your home, then you should pursue home improvement and landscaping projects to boost curb appeal. To figure out just how much to renovate, figure out the current value of your home and how much it costs to complete the renovations.
Next, talk to an appraiser to see how much the house would sell for after repairs. Figure out whether the final sale will give you more profit than the cost of the home improvements.
What To Consider Fixing Up
Kitchens and bathrooms often need the most repairs and renovations before listing a home for sale. Fix up the sinks and faucets along with any broken light fixtures. Make sure the faucets aren’t leaking.
In the kitchen, you should renovate countertops and cabinets. You can either put in new cabinets or fix loose hinges and replace broken knobs. If the countertops and cabinet doors have chipped paint, then try sanding them down and adding a fresh coat of paint.
In the bathroom, ensure bathtubs and showers still work well. Remove any clogs. You may need to replace any broken tiles and fix the exhaust vent.
Are there any small holes in the drywall around the house? Then you will need to repair the cracks. If you need to paint the chipped walls, then pick neutral colors. Do you have scratches on your hardwood floors? You may need to refinish the floors as well. If your water heater or HVAC system isn’t working properly, you may need to replace the appliances.
Your smoke detectors and carbon monoxide detectors should work properly to keep a prospective buyer safe. You should also declutter the house to improve the first impression potential buyers get upon entering your house.
Minor or Major House Repairs?
You may think that you need to complete major home repairs, but the truth is that huge renovations may not greatly increase the resale value. You should figure out your return on investment before making any costly upgrades to the property.
For example, you may not need to put new shingles and repair the roof if it isn’t leaking and doesn’t have major problems. Before you choose to complete even minor repairs, speak to a real estate agent and get the realtor’s advice.
Currently, supply chain issues are important to consider before starting on a major home improvement project. You should avoid starting any upgrades that you won’t finish or will take too long to complete. Due to the slow delivery times of essential tools, don’t begin any demolition steps until you have bought all the necessary items for upgrades.
Avoid installing any trendy cabinets, doors, handles, or other items. If something is popular at one time, it may go out of style within a year. Also, some buyers may not like certain trendy items, so you’ll want to have upgrades that a broad population will enjoy.
Cosmetic House Repairs in Tennessee
You can pursue some simple cosmetic repairs on your home before selling it in Tennessee. One of the easiest cosmetic repairs involves painting your home to improve its appearance.
Realtors advise using neutral colors when putting on a fresh coat of paint. Essentially, light colors should appeal to the broadest number of home buyers. Also, consider repairing anything that needs minor fixing.
Leaky faucets and broken doorknobs need fixing. If your heating and air conditioning systems need replacement, then get new ones.
Some other cosmetic repairs involve adding features like smart home technology or a nicer outdoor area. Plant more flowers or bushes in the backyard or put in new tiles for your patio. You can also remodel the kitchen by putting in new cabinets and countertops.
The curb appeal of your home is also essential when it comes to selling your place for a good price. You can put in nicer locks and fix the hinges on the front door. You might also want to powerwash the driveway and add flower pots on the front porch.
With the perfect cosmetic repairs, you’ll find it much easier to sell your home quickly at a fair price.
With the right decorating tips, you can sell your home at a great price. You can talk to a realtor and an interior decorator to find out how to position your furniture and stage your home.
Decluttering your house and staging it will help you sell the property faster as well. Make sure to completely clean your house and make it shine before holding an open house.
You might need to clean your carpets or replace them altogether. Adding some fresh flowers in vases will also make the home easier to sell. Make sure all kitchen appliances look new by polishing them to a shine. You may also want to add some attractive artwork to the walls for greater appeal.
Remove any toys that your kids or pets leave on the floors. Remove some of the excess furniture and make sure there’s plenty of room throughout the house. You don’t want your potential home buyers tripping on any wires or bumping into chairs.
You will need to organize the closets and remove as much bedding or extraneous clothing as possible. Redecorating and organizing your home should lead to a faster sale at a higher price.
How to Sell Your House After You’ve Fixed It Up
Once you have fixed up your home, improved curb appeal, and staged the rooms, you’re ready to put it on the real estate market for sale. Find an experienced realtor who knows the value of homes in your neighborhood and has experience selling fixer-uppers.
In Tennessee, you should figure out the best time to sell. Often, more buyers show up in the spring and summer. Essentially, buyers with children prefer their kids to start in a new school in the fall. July is usually the best time to sell for speed and price in Tennessee.
Tennessee homes listed in July tend to sell for $11,000 more than average and sell eight days faster than average.
You’ll need to get your realtor’s advice on choosing the asking price for your home. Real estate websites can also help since they’ll list the prices of houses in your area. Conduct a comparative market analysis to figure out how much other real estate is going for in your region.
Next, you’ll need to create a great listing description with the help of your realtor. Make sure your home stands out on real estate websites. Your realtor will then conduct private home showings and possibly set up an open house.
Next, you should start getting offers. You may need to negotiate if you have offers below the asking price. Sometimes, you may get multiple offers above the asking price. After receiving an offer, decide whether to accept it or reject it. You can also counteroffer or negotiate on closing costs.
Once you’ve signed a purchase agreement, you will have to complete the last steps defined below.
- Complete the appraisal and home inspection
- Finish all paperwork
- Attend closing to finish signing over the house to the new owners
Now that you know what to fix up before selling a house in Tennessee, consider fixing it up and conducting minor repairs. The extent of the repairs needed will determine how much work you should do before you try to sell.
Be sure to budget accordingly and if your home has extensive repairs or damage, consider looking into companies that will help fix or flip your home for you. Doing this should increase your home’s final sale price and bring in more potential buyers.