House Repairs That Add Value
Knowing what house repairs to do before selling your home is a challenge for many. Maybe the lawn could use some landscaping. A fresh dab of paint could do wonders for your exterior. And maybe even a new HVAC unit. All in all, nothing to discourage any potential buyers.
But you may be wrong. You’re just not sure. Selling a house without major repairs could wind up costing you in the end. Your home’s value isn’t just based on historic costs. It’s based on comparable costs in your neighborhood. And if you take a close look around at the properties that have sold in the past two years, there’s a good chance they’ve all gone through major renovations.
Not just major renovations, but costly ones as well. The median cost for house repairs and renovations on the average single family home in the U.S. can vary; but the minimum is reportedly just shy of $50,000. But that’s nationally. Remodeling your kitchen alone in Utah can cost you upwards of $20,000. That’s just on the low end. That’s assuming you find a reputable contractor. And that’s assuming your entire house doesn’t need major rehabilitation.
If it does? You could be looking at well over $75,000 in costs. Just in repairs alone.
Before you consider selling your home in Utah, here’s a list of the top 5 house repairs you need to make.
House Repair #1: Updating Exterior and Interior Painting
It seems simple enough. Both indoor and outdoor paints are relatively inexpensive house repairs to do. With a little elbow grease, you can probably get both jobs done in two weeks. Tops.
If that’s the case, why did your last paint job chip and fade away after only six months? There’s a reason why professional house painters can charge up to $70 an hour for their services. And there’s a reason why your last DIY paint job looked so haphazard. House painters are trained professionals with an eye for flaws, and their craft shows. And it can show up to a buyer’s eye as well.
- National average cost of house painting (exterior): $2,500
- National average cost of house painting (interior): $900
House Repair #2: Kitchen Remodel
There’s no doubt that a newly remodeled kitchen can increase the value of your house—sometimes up to $23,000 more. But is it actually worth it?
Here’s a hard truth to swallow. The average cost of remodeling your kitchen can cost well over $25,000. That doesn’t include custom cabinet or kitchen tops; both of which have a minimum investment of at least $5,000. In fact, most homeowners report a substantially negative return on investing in kitchen renovations. And sadly? That’s one of the chief selling points of a home for many new buyers.
- Average national cost of kitchen renovation (basic): $25,049
House Repair #3: Flooring
We all know about some of the pitfalls of the weather in Utah. What we may lack in snow, we more than make up for in dryness. But have you ever thought about what dryness can do to a floor? Especially hardwood floors?
Warping and scuffs are far from uncommon for most Utahns. And you probably don’t need to be told that floor installation is a job much better left to the professionals. But it’s an investment that may prove to be worth the hassle in the long run. Recent estimates indicate that refinished or new hardwood floors can increase home value by up to 2.5 percent. Given that the most recent figures for median home sales in Utah was $325,000, that’s over $8,000 as a return you might expect to see from selling your home just from renovating your floor alone.
- Average national cost of hardwood floor renovation: $1,550
House Repair #4: Replacing Your Roof
Yes, you can do it yourself. But we can assure you that whether it’s winter, summer, spring or fall it’s going to be a project that’s far from rewarding. Or necessarily a safe one.
Unfortunately, replacing your roof isn’t just labor intensive. It provides consistently low return on your investment. In fact, you might only see a 60 – 70 percent return on what you spent on rehabilitation.
- Average national cost of rooftop renovation (asphalt shingles): $22,636
- Average national cost of rooftop renovation (metal shingles): $38,600
House Repair #5: Bathroom
It still amazes us when we meet with homeowners who fail to realize how integral a selling point their bathroom is. In fact, in a recent poll from the National Association of Realtors, some 35 percent of agents surveyed considered bathrooms to be of relatively high importance when selling a house.
A bathroom is one of the few places of absolute privacy in a house. And for many of us, it’s practically an oasis in a windstorm of chaos. That’s not a far-fetched analogy, either. A universal bathroom remodel can increase home value by over $20,000. Preposterous? Maybe. But numbers don’t lie. And neither does the state of your bathroom.
- Average national cost of bathroom renovation: $10,443
- Total national cost of the five most popular home repairs: $63,078 – $79,042
You’ll note that these are averages. For only five repairs. And there’s simply no guarantee they’ll necessarily add any value to your home. Home sales can depend as much on buyer preference, local demand as they might on national trends.
What If I Want To Sell My House Without Making House Repairs?
It’s not entirely unheard of to sell your home to a regular buyer as is without making home repairs. It’s just that the chances are unlikely—even if you’re selling for pennies on the dollar. Your standard buyers already face enough inconvenience, whether it’s waiting on mortgage approval, closing costs or finding the right agent. They don’t want to be burdened with additional time and energy in rehabilitating a house. And chances are, neither would you.
One solution is to sell your home to a house buying investor. And that’s exactly what we do here at Gary Buys Houses. We’ve been helping Utah homeowners for over a decade meet the embarrassment and inconvenience of selling a house that’s in less than perfect shape. We’ll purchase your home as is, no matter what condition it’s in; sometimes in as little as 3 – 5 business days.
We know the frustrations of home repair. We’ve been there. But if you’re trying to sell your house, you don’t just need to take the market into consideration. You need to think of your initial investment as well. And sadly, sometimes the return simply won’t match.
Here’s hoping yours exceeds it.
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