The home inspector has been to your home and you now probably have a very lengthy inspection report in hand. Go over it carefully. Let’s say there are some issues that need attention. The next question you should ask yourself is, “Should I fix everything on the report?”.
There is no black and white answer to that question. Except when it comes to health and safety related repairs. Those types of repairs should be fixed immediately. Not only because you want to sell your home quickly, but you should want to know that you are selling a home that is safe for a new family, not to mention for your own family for as long as you are living there. Fix any repair that you can do yourself and/or will cost you nothing. I mean why not it can only make your home better in the eyes of a buyer. Any minor repairs (generally up to $500 in cost) that will present your home better for a buyer are recommended to be fixed as well. Having your home in tip top shape will help you get the best price so you can be gone and move on.
Repairs that are an average cost to fix are a margin call. In my book anything that costs $500-$2000 is considered an average repair. You must determine if your budget allows for the cost and if you will see a return on the money you spend. If it is not in the budget make sure it is in the disclosure. If you do not have the money for a major repair like a roof replacement or a new heating/cooling unit, no problem, again, make sure to note the age and condition in the property disclosure and reflect the repair need in the asking price or offer a repair credit at closing. Having your home priced right will make a buyer more comfortable knowing you are not trying to be shady and get away with anything. Note any other major issues, if any, in the disclosure so the buyer will not come back and ask for a discount to the price.
Remember you must disclose all material facts you know of about your home that could affect the buyer’s decision. Material facts are details about the property that are apparent or not and include condition of the property and legal status. You do not want to be sued by the buyer after your sell and yes that does happen! Consult with your Real Estate Agent on what repairs should be made before putting you put your home on the market.