Selling your Vancouver home: When ignoring a $1,000 fix-up can cost you $2,500

Posted by Liliana Sorescu on Monday, August 18th, 2014 at 4:02pm.

Does your home in Vancouver need a new paint job? Is there a cracked window, a hollow-core door with a hole, or even a torn window or door screen?
 
If so, correcting those problems before you put your house on the market can save you dollars in the long run.
 
You might be able to paint the house for $1,000 – especially if you have some do-it-yourself skills. Buyers will assume that it will cost much more. If they're really interested in the house, they may even get a bid – and of course it will cost far more for a professional to do the job.
 
The same can be said for replacing a window, repairing a torn screen, replacing a faulty light fixture, or any of a hundred small things that detract from your home looking "move-in ready."
 
Whatever it will cost you, buyers will assume that it will cost twice that much – or more. If they still want the house in spite of needed repairs, they'll deduct that cost from their offer.
 
But that's not all…
 
Some buyers will shy away completely – which lengthens your selling time and keeps you making payments longer.
 
Those who don't shy away will first consider the cost of the repairs, and deduct that. Then they'll consider the financial factor of having to wait to move in or the annoyance of having to live in the house with repairs in progress.
 
So if they think that $1,000 job will cost $2,000, they might well deduct $2,500 or even $3,500 from their offer.
 
The conclusion: If there are repairs that you can make or repairs that you can afford to have done, do them before you list the house.
 
Your Vancouver home will not only sell faster, it will sell for more money. 
 
 

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