Home repairs that will maximize your home’s AS-IS value
It can be a challenge to prioritize or estimate the actual costs of certain home repairs that may maximize your home’s value. When considering selling your home AS-IS, buyers are less concerned with esthetics and more concerned with structure and maintenance of the home. We will share what we view as the most important items to attend to to maximize your home’s AS-IS value and share the cost range of each below.
If you want to sell your home quickly, easily AND maximize the price you can demand, your best bet is to make sure the following major maintenance items are in good condition. If you don’t want to make the repairs done fret! Below you will get a rough estimate of what a home buyer will deduct to replace those items. If your house has these items in great condition expect a better price.
Note the age and type of shingle. Are you experiencing any active leaks? If the roof is 15-20 years old a replacement is coming soon. If you are experiencing active leaks, assume it will need to be replaced soon. Average roof replacement in the triangle for an average home will range from $8,000-15,000.
Are they original to the home? Are they wood and/or single pane glass? What is the condition like? Are they fogging up in humid temperatures? Are they rotten around the lower edge outside? Sometimes you will find you only need to replace a few windows rather than the whole house, but typical replacement windows run $450 per window to get them replaced.
How old is the unit? You can check this by looking at the label located on the side, like this:
If the unit is older than 10 years old like this beauty from 2000 it will die soon and need to be replaced. Count on ~$6,000 per Air-Conditioner unit at your house. Some houses have 2, some just one. If the house is big it may even have 3 or more!
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- Exterior Trim and Siding
Take a walk around the outside of your house. Notice what trim boards need replacing. You can use a screw driver to stab at it and test if it’s solid. Are there holes in the siding? Have wood trim and siding boards been caulked and painted regularly? If not, you can anticipate the need for repair or replacement. ** and don’t forget to note exterior doors and decks. The cost to repair can run from ~$1,000-25,000 depending on condition.
- Moisture, Mold, and Smoke Odors
Moisture in a home can lead to mold as we discussed in a recent post, but it is important to find the source of the problem in order to repair the issue fully. This could require re-grading the earth outside to prevent water penetrating into the home, replacing a leaking roof, or as simple as clearing the drainlines lines of an HVAC unit
Smoke odors, on the other hand, are difficult and costly to remediate and may even require replacing all ductwork, possible drywall and floor to ceiling paint. Cost to repair mold and smoke odors can vary from $3,000-15,000.
While you are out looking at the house’s siding and trim condition, take a look at your foundation, are there any cracks wider than a pencil? Are the floors inside level? Do all the doors close and latch properly? Are there cracks running from the corners of doors up at an angle towards the ceiling? Foundation repairs can be costly, but in the event you find any issues, we suggest contacting an engineer rather than a foundation company to diagnose what exactly needs to be done. Foundation repairs start around $3,000 and can go up to $10,000 easily.
To Recap : How Much Do All These Things Cost?
- Roof – $8-15k, depending on size
- Windows – $450 per window
- HVAC Units – $6k per unit
- Replacing Rotted Trim and Siding 1k-25k, depending on extent of damage, replacement material and size of home – we can get you a quote.
- Mold, Moisture, or Smoke Remediation 3-10k
- Foundation Repairs 3-10k
Neglecting repair or replacement of these important items WILL affect the offer price you receive, but will NOT disqualify you from getting a fair price.
When it all comes down to it, you may find it is more cost effective and a better use of your time to just sell your house as it is.
We are ready and willing to help if you think The Inspiring Investment’s home-buying service would be valuable to you.