Do you have a run-down house for which you want the best price? You’ll need to invest in renovations and home improvements to increase the home’s value and attract homebuyers. You may be wondering what the average cost to fix up a house to sell is, and that’s what we will cover in this article.
We’ll also discuss whether it’s worth fixing up your house in the first place and the other options you might have for your home sale.
Common House Fixes That Need Doing
Before you sell a house, you’ll need to get a home inspection, which will uncover issues that potential buyers would want to know about, such as foundational damage, plumbing problems, and electrical issues.
Making those home repairs is important for getting the full sale price for your home. Let’s list some common house upgrades and fixes that many homeowners need to make before selling.
Roof damage is one of the most common issues that will come to light sometime during the selling process. Depending on the age of your home, the roof might be missing shingles or even have punctures or holes, leading to leaks. Over time, water damage on the roof might have become worse, and there may be mold and mildew buildup as well.
Depending on the overall state of the roof, an entire roof replacement might be in order.
HVAC issues are also common. Sometimes, you only need to change the filters to improve air quality. At other times, the HVAC system will be old and outdated, and replacing it entirely would be a better choice. If you can install a smart HVAC system, that might also add value to your house.
Then we have the cosmetic fixes, such as applying a new coat of paint to the interior or exterior. Don’t underestimate the importance of making a good first impression during home staging.
Repainting your home’s exterior will improve its curb appeal and increase the home sale price. You can also do a deep cleaning, which will impress buyers at home showings and increase the value of your home.
Finally, there are small issues that are common in many homes, and you may want to consider fixing them before putting your home on the market. For example, you might replace some light fixtures that are no longer working or repair broken faucets. They don’t involve a lot of hassle or cost too much money, but they can make your home more appealing.
Is Nebraska an Expensive State To Fix a Home?
No, Nebraska is not particularly expensive when it comes to home repairs.
The first thing we must consider is the cost of living, which determines the labor cost involved in expensive home repairs. The good news is that the cost of living in Nebraska is seven percent lower than the national average.
Another consideration is the lack of inventory in the Nebraska real estate market. That means there are not enough houses for buyers, so you can get away with not making certain repairs, and you will still be able to find buyers.
Types of Expensive House Fixes
After having said that, let’s discuss some of the most expensive house fixes you might face as a homeowner. Generally, these repairs fall into two categories: those that are essential and those that are not.
Those that are essential will show up in a home inspection report. For example, any home inspector will look for foundational damage, and foundational repairs are perhaps some of the most expensive repairs you can make.
However, not making them can make your home unsafe to live in. Unless you want to sell a fixer-upper for dirt cheap, repairing foundational cracks and structural damage will provide a decent return on investment.
Fire and water damage also comes with high repair costs. Depending on the severity of the damage, you might have to replace entire walls and ceilings, which can quickly add up.
However, a lender will likely not approve a house with significant fire damage for a mortgage, and investing in such repairs will improve the market value of your home and make it move-in ready.
Water damage can also lead to mold buildup. While a little mold isn’t a big issue, black mold or hidden mold can lead to health issues, and you’ll want to take care of them before having your listing agent list your home. Someone looking for their next home won’t want to deal with mold and the decreased quality of life that comes with it.
Other types of repairs depend on the severity of the damage. Repairing a roof, HVAC system, or water heater isn’t always expensive. However, if the damage is extensive or the HVAC system or water heater is extremely old, you might have to opt for a replacement rather than a repair. Such repairs can easily cost thousands of dollars.
Let’s quickly recap some of the most expensive home repairs that are essential and how much they will cost you:
- Foundational repairs: Depending on the damage, it could easily cost more than $10,000.
- Roof replacement: If you have to replace an entire roof, it could easily cost you $10,000 or even $15,000.
- Septic tank and plumbing issues: A new septic tank can cost you over $5,000, while plumbing repair costs depend on how many pipes, toilets, and other elements you must replace.
- Mold remediation: Depending on how much mold you have and how hard it is clean, you might pay up to $3,000 for mold remediation.
- HVAC and heating system replacement: In total, this could easily cost you over $6,000.
- Deck repair: A worn-out and old deck can collapse, leading to injury. Expect to pay a few thousand dollars if you have an outdated deck.
- Water heater replacement: If you must replace an older water heater, expect to shell out a grand or two.
Then there are expensive repairs that are not essential, especially if the housing market is good. A kitchen remodel is a good example. It can be expensive, and the ROI usually isn’t enough to justify it.
Redoing the basement, on the other hand, can help increase your home’s value, despite being expensive. Adding an extra room to your home is also a significant way to add value to your house, as any realtor will tell you.
One of the top things that people look for in a home is the number of bedrooms it has. In a seller’s market, you might not have to make all such repairs, but in a buyer’s market, it might be worth investing in them.
Types of Cheap House Fixes
There are also various non-expensive repairs that can make your home more attractive to buyers looking for a new home and allow you to increase the list price.
The cheapest repairs that offer the best return on investment are those that focus on improving curb appeal. Here are some of the most important ones:
- Adding a fresh coat of paint
- Mowing the lawn
- Planting some bushes or flowers
- Doing a deep clean
- Cleaning the roof
- Power washing the house and driveway
- Refurbishing doors and cabinets
- Hanging wall art or improving the decor
- Putting some furniture on the back deck or lawn
- Adding a picket fence around the property
Selling an ugly house isn’t easy, so if you can make it more visually appealing, you will instantly make your life easier.
Average Cost To Fix Up a Home To Sell
The average cost of fixing up a home to sell tends to be around 4-5% of the sale price. That does not include additional closing costs, such as the real estate agent commission, lawyer fees, home inspection costs, and other fees.
Together with relocation (moving costs), professional staging fees, closing costs, listing fees, seller concession fees, agent fees, and other costs, you might easily pay 12-18% of the total home sale value in fees.
One of the easiest ways to avoid that is to sell to cash home buyers in Nebraska. Cash home buyers typically deal with selling house as-is sellers, as they know they can renovate the home, improve its value, and then flip it for a higher price.
If you want to sell a house fast in Omaha, get in touch with us. When selling to cash home buyers, you can skip the repairs, which take a lot of time, as well as various other steps in the home selling process. For example, you and the buyer don’t have to spend time and money on a home assessment, home inspection, or applying for a mortgage.
You also don’t have to deal with as much paperwork, and we can give you a fair offer and close on your schedule. Send us pictures or have us come for a visit so we can determine the value of your home, and you can have your cash in hand in as little as a few weeks.
We buy houses Lincoln homeowners need to get off their hands, including inherited homes and fixer-uppers, so we have lots of experience with homes like yours.