You might wonder, should I repair my lake home before selling? It is a common question. Are repairs worth the investments of time and money? The answer isn’t a simple yes or no. It all depends on the situation. This post will cover what you need to know about whether or not to do repairs before selling your home.
Michigan Lakes Real Estate Market Watch
As of March 2024, the average number of days to sell a home in Calhoun County was 33. However, market trends are constantly changing. Contact the Michigan Lakes Real Estate Team for help buying and selling lakefront property in Southwest Michigan.
Should I Repair My Lake Home Before Selling? What You Need to Know
Damage to Look For
Safety is always a priority. People also don’t want to worry about significant repair issues. Check the following areas for damage:
- Roof: Most buyers will stay away from a home with roof problems. They don’t want to worry about leaks and potential water damage. That makes roof repairs worth considering before a sale.
- Plumbing Issues: The plumbing system can also be a major issue for some buyers. Leaky pipes can cause problems. People also don’t want to move into a home if there are problems with the sewer line or septic system.
- Electrical Connections: Faulty wiring can be a significant red flag for buyers. Beyond the potential for electrocution or malfunction, it is a fire hazard. Check your electrical wiring to see if it is outdated, and immediately consult a professional to help fix it.
Offer Conditions
Your decision whether you want to make repairs also depends on the conditions of the offer. Some buyers might not buy a house that needs repairs. They might worry the repairs will cost too much. Some buyers might also want to move in right away. Agreeing to make some of the repairs could help you sell the home.
The Current Market
Selling your home also depends on the market in your area. If your home is in a hot real estate market, buyers might not mind having to make some repairs. However, a buyers’ market might make it difficult to sell a home that needs significant repairs.
Structural or Safety Issues
A home must meet the minimum livability requirements required by the law. Mortgage lenders usually require a home inspection to check if you have met these minimum requirements. If your lake home has structural or safety issues, you should consider making repairs.
Time and Budget
Home repairs can be costly and time-consuming. A need to sell quickly might not afford enough time for repairs. You might also look at the cost of repairs and find that the return is not worth it. Either way, you might need to accept a lower price to account for the home’s condition.
Do you need to buy or sell a lake home in Southern Michigan? Click here to reach the Michigan Lakes Real Estate Team. We are local experts in the lakefront real estate market. Reach out now to learn more about our services.
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