Hi Everyone: Today’s topic focuses on the costs of getting a house ready for market in San Diego.
My name is Brian at Trusted House Buyers and thanks for tuning into this video today.
Are you curious how much it would actually cost to prepare your home to sell on the real estate market in San Diego? Well, let me set up a pretty significant statistic. On average, about 25% of sellers who made home improvements sold above the list price, compared to the 15% of those who didn’t. That difference can mean thousands of dollars in your pocket. However, it is important to note the condition your home is currently in. If your house needs a laundry list of repairs and renovations, you could be looking at a budget that does not make sense financially. This is often the case for many home buyers, and oftentimes, the burden of preparing their home for the San Diego real estate market is simply too big. At Trusted House Buyers, we have seen this time and time again and it is really why we provide our services to home sellers.
The real question is, how do you know which home improvements are worth the investment? Also, how much should you really spend and what type of prep work is involved to sell your house.
There are generally four areas that you want to focus on when getting your house ready for the real estate market.
- Curb appeal
- Home staging
- Renovations and home improvement
- Repairs and maintenance
Let’s start with curb appeal. Most real estate agents will tell you that curb appeal matters. This is the first impression buyers will have when looking to buy your home. Actually, attractive curb appeal can increase home values up to 15%! So if your lawn is not in good shape, get ready to shell out some serious cash.
Moving on to home staging . . . this is something that not all home sellers sign on to do, but when they actually invest in the money to stage their home, it allows the potential buyers to imagine the home as a lived in space. On average, staged homes sell 73% faster than an unstaged home. Yes, that is a staggering statistic. But it all comes at a price, not to mention the hassle and time it takes to clear your home and prepare it for staging.
Now this is when the big bucks come in. Home renovations and improvements can significantly impact the sale price of your home, especially if your home is in need of some serious TLC. Bathroom and kitchen remodels can make a lasting impact on the home and sale of your home. These renovations can cost anywhere from $5,000 upwards beyond $30-40,000! These prices are not to be taken lightly and many home owners simply do not have the liquid cash to make these large renovations before they sell.
Now not all improvements need to be big ticket items. Interior paint, lawn care, replacing fixtures/lighting, and even knobs and pulls can refresh your home and keep money in your pocket.
Our last item on our list to conquer when getting your house ready for market, is repairs and maintenance. These will most definitely get red flagged in a home inspection, so it is important to deal with any issues your home may have before a seller comes in. This fact could cost you the sale and scare away potential home buyers. Some repairs that may need to be done are electrical work, heating and cooling repairs, any water damage, or termite issues, to name a few. Experts say that deferred home maintenance can cost upwards of $20,000!
Although this list can seem a bit daunting (let’s be honest, it is daunting), it is also imperative to consider your home sale preparation budget. There are three main factors to consider for repair, renovations, and prepping:
- The current market value and state of the home as it currently stands
- The cost (money and hassle) to repair or renovate the home to make it easier to sell
- How much the repair increases market value compared to the cost of the repair (return on investment)
Here’s the bottom line: there are many factors that contribute to the varying costs of getting your house ready for market in San Diego. If you find yourself in a situation where you are ready to sell and that the frustrations and money it takes to prepare your home to sell is simply becoming too much to handle, Trusted House Buyers can offer you a cash offer, take your home as-is (that means anything and everything you want to leave in your home, you can) and close on your terms. Selling your home to a cash buyer like Trusted House Buyers can relieve you of all the laundry list and money it takes to get your house ready to sell on the market. For more information on the costs that are associated with getting your house ready for market in San Diego and why it may be a good time to get your house off of your hands quickly without incurring those costs, you can always call us at Trusted House Buyers by dialing, 619-786-0973.