Selling your home in Minneapolis can be a lot of work, especially if it has damage and needs home improvements. Sellers find it hard to figure out what to repair in the house and what to leave alone. Often, it’s a matter of figuring out your return on investment for each project. When preparing your home for sale, find an experienced real estate agent early on in the process who can help you work through these questions. With their advice and following our tips, you can figure out which repairs will be best to tackle when selling a house that needs work in Minneapolis.
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Sell Your Home Easier With These Tips
It can be stressful when selling a house that needs repairs in Minneapolis. There are varying levels of repairs and damage, from major to minor. Sometimes it makes sense to make home improvements before the house hits the market, while other times it’s best to sell a house as-is to a deal hunter. This may limit your buyer pool, but it could be worth it. Lean on a top real estate agent to help you when preparing for a sale and also consider our tips.
Selling a House That Needs Major Work Before Selling
Homes that need major repairs can cause problems after an inspection. The buyers will likely ask for these problems to be addressed before the sale can go through. If you know that your home needs major work, it’s best to take care of it before the home hits the market if not opting for an as-is sale to an investor. Here are a few major issues that are often seen during an inspection and how to address them.
Walls and Foundation
Foundation issues are expensive to deal with and usually scare away potential buyers. Some telltale signs of foundation problems include large horizontal or l-shaped cracks on the exterior. On the interior, signs include cracks in the drywall, misaligned doors and windows, trouble shutting windows, sloping floors, and cracks in tile. If you notice any of these, it’s best to have a foundation inspection. These cost a few hundred to $1,000 depending on the severity of the damage. If repairs are needed, expect these to cost about $2,000 for minor repairs and up to $10,000 or more for major repairs.
Minneapolis winters can be brutal and take a toll on your roof. A roof in disrepair can also raise red flags during a home inspection. If your home needs a new roof or there are leaks in the attic, these can lead to buyers walking away. Most asphalt shingle roofs last for about 20 to 25 years. If your roof is older than that, it might be a good idea to put on a new roof. Other signs that a roof may need to be replaced include missing shingles, roof valleys, shingles that are curling or buckling, seeing daylight through the roof boards, finding shingle granules in the gutters, finding leaks in the attic, and chimney flashing that is in disrepair. A new asphalt shingle roof that covers an area of 1500 square feet will cost between $6,000 and $9,000 to replace.
Water damage is commonly found in the attic, basement, or bathrooms of a home. This can be bad news, especially if mold has started to grow. Plus, water damage is usually a sign of a bigger problem in the house. There are many factors that affect the price for water damage remediation, but expect to pay between $4 and $7 per square foot of damage.
The windows are another area that cause problems during a home inspection. The windows in your home may need to be replaced if they are inoperable, drafty, or inefficient. If there are issues with the windows, the buyer may ask that they be replaced before closing or for a credit for new windows to be applied to the final sales price. The national average cost to replace windows in the home with energy efficient vinyl widows is $16,802.
Who is Fix2Sell and Why It Matters to You
Fix2Sell is a pre-sale home renovation company that partners with local real estate experts. Together, we provide a complete solution that helps you maximize your home selling price while streamlining the renovation and selling process. As a part of our solution, we offer the option of no costs until closing on your home renovation project.
Common Areas in a Home That Need Repairs
Home inspections often come back with a list of items that need to be fixed when a home is in poor condition. Not all of these are major components of the home, as are listed above. However, these problems can lead to some extra negotiations. The buyers may ask for the seller to make minor repairs or reduce the price of the house. The seller has no obligation to make these repairs and can sell as-is, but the buyer may decide to walk away from a house that needs repairs. Here are a few common areas that may need attention.
- Electrical Appliance: If electrical appliances aren’t working properly, the seller may ask you to make repairs. In some cases, it may be more cost-efficient to replace the appliance instead of repairing it. Common appliances that need attention are the stove, refrigerator, washing machine, dryer, or dishwasher.
- Plumbing: There are many components to the plumbing systems in a home. The inspection will take a look at all of them, including the hot water heater, faucets, showers, toilets, pipes, and drains. Common problems found include leaks, old and defective piping, uninsulated pipes, clogged sewer lines, problems with the hot water heater, cross connection issues, slow draining sinks, dripping faucets, low water pressure, toilet problems, and jammed garbage disposals. Small plumbing repairs generally cost between $150 and $500. A full plumbing system replacement will cost between $10,000 and $15,000.
- HVAC: With cold winters and hot summers in Minneapolis, a functioning HVAC system is very important to buyers. HVAC systems are composed of the furnace and air conditioner. Many issues are commonly found during home inspections. These include dirty filters, ductwork problems, exhaust system issues, cracked heat exchanger, improperly supported flue pipe, condenser unit issues, dirty or clogged coils, an uneven pad, or missing part. Some of these are very inexpensive to fix, while others can be more costly. Most HVAC repairs cost between $100 to $150 per hour of work.
- Dead Trees: Dead trees can be hazardous on a property. When a tree dies limbs can fall off or the whole tree could fall over. Dead trees need to be removed. Costs vary widely, depending on the size of the tree. Expect the cost to be between $200 and $2,000.
- Trip Hazards: Many homeowners overlook trip hazards, but home inspectors find them. A few common ones include uneven walk surfaces such as cracked sidewalks, patios, or driveways, damaged steps, rebar or other items sticking out of the ground, old patio cover posts, and plumbing clean outs that have been set too high or low.
Choosing to sell your Minneapolis house as-is means that you will not make any repairs or improvements before the sale is complete. What you see is what you get. This means that you will be selling your home at a clearance price, which will appeal to flippers and investors who are looking for a fixer upper. This will shrink your buying pool, but in some instances, this could be worth it. When marketing, be transparent about flaws, focus on the positive features of the house, and make sure it’s priced correctly. Here are some pros and cons of selling as-is.
- Save time by not needing to plan and complete repairs. Plus, most interested buyers will pay with cash, so the closing process can also take place much quicker.
- Save money by not needing to pay for repairs and improvements. The return on investment may not be enough to cover all expenses with the home sale.
- You will get fewer offers when selling a home as-is. This is because the buyer pool is smaller. Some mortgage lenders will not approve a mortgage for a fixer upper, so potential buyers are generally limited to real estate investors and house flippers.
- You will receive lower profits for the home sale. Potential buyers will need to make up for the cost for needed repairs by offering a lower price. Yet, keep in mind that you won’t be spending any money to fix it up.
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The Minneapolis area housing market continues to be strong with homes selling quickly whether in great condition or not. The city of Andover is a very popular place for homeownership. More than 93% of people living in Andover own their home. This area appeals to buyers, whether hoping to live there themselves or purchase a home to rent out. Andover Cinema, Majestic Oaks Golf Club, Bunker Park Stable, and other outdoor recreation opportunities make it a popular place for potential buyers to search for Andover homes for sale.
Make Fixes Most Important to Buyers – Get Market Sale Price!
Even if your house needs many fixes, it may not be necessary to address everything. Sometimes focusing on some smaller issues can be enough to get a better inspection report and your home sold. A top real estate agent who knows the current market can help you make the best decisions about which projects to focus on to get top dollar for your home. Decisions will be based on ROI and resale value. By only focusing on the most important fixes, you can spend less and still get more money on the sale. Here are some of the most important fixes to make when selling a Minneapolis home that needs repairs.
1. Repair Damaged Flooring
Replace flooring that is worn out and spruce up flooring that still has life left. At minimum, clean the carpets or refinish the hardwood floors. Walking into a home with clean and spectacular floors can make a great first impression.
2. Fix Water Stains
Even if you know the problem has been fixed and the stain has simply been left behind, a buyer may worry that there is a bigger issue. Cutting out and replacing the drywall on a ceiling will be cheaper than losing a sale.
3. Fix the Small Things That Affect Functionality
Go through every part of your home and make sure everything works correctly. Check things like locks, doorknobs, and the garage door. Anything that doesn’t work properly, fix or replace it. Buyers will want a home to be functional.
4. Replace Grout and Spruce up the Bathroom
Yellow or cracked grout can be a real turn off for buyers. New grout can make an old shower look new again. While you are at it, consider upgrading cabinet hardware and lighting to make your bathroom look more modern.
5. Address Poor Drainage
If water is not draining properly away from your house, water damage, including mold, is a real risk. Buyers and home inspectors will be look at the systems in place to keep rain water away from the foundation. If your gutters and drainage plan is not ideal, best to fix this before getting your home on the market.
6. Old or Inadequate Insulation
Modern insulation does a great job of maintaining a comfortable temperature in your home. Unfortunately, some builders, especially of older homes, did not always install adequate insulation. Water damage or pests can also destroy insulation. If there are any issues, it’s a good idea to address them to offer energy efficiency to potential buyers.
7. Revive the Kitchen
You often don’t need to fully renovate the kitchen when selling. Forego this expensive project and make small upgrades instead. Consider painting the cabinets, installing new hardware, updating the lighting, or purchasing new appliances. Any combination of these projects may be the right fit for your situation.
8. Sharpen up the Home’s Exterior
Make the front of your home shine to impress potential buyers as soon as they arrive. Repair any siding that is in disrepair, touch up the paint, and consider installing a new front door or giving it a fresh coat of paint.
9. Electrical Safety Concerns
Some older homes do not have electrical systems that are up to current codes. Grounding outlets throughout the home and GFCI outlets in bathrooms and kitchens are important for safety. If your home is lacking these outlets or has old knob and tube wiring, address these problems before listing the home. Most home insurance companies will not cover a home that has wiring that is not up to code.
10. Poor Ventilation
Minneapolis Homes with poor ventilation are at much higher risk of developing mold. Inspectors check for proper ventilation in attics, bathrooms, kitchens, and laundry rooms. One of the most common problems found is having a bathroom fan vent into the attic instead of out the roof. This could create a bad mold situation and is very important to remedy.
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Budget Friendly Renovation Instead?
Even if you want to put little to no money into your home before selling, there are a few things you can do to make your home look more updated, functional, and better for potential buyers. Even small efforts can be rewarded in the offer amounts. Here are a few ideas for updating your home on a budget.
1. Change Your Rug
A trendy rug can add a pop of color and sophistication to your home. This can wow buyers as soon as they step into the house.
2. Install Alcove Shelving
Buyers love homes with ample storage space. Creating an area for keeping books organized can be an inexpensive way to impress those coming to see your home.
3. Opt for Full-Length Curtains
Choosing full length curtains create a nice and classy atmosphere. Choose a color that compliments the paint and decor and will help the room stay cool, or warm.
4. Install Wall Panels
Accent walls are all the rage today. There are some inexpensive options out there that can help you create a unique area using wall panels.
5. Restore Historic Pieces
If your home has historic door casing, cornicing, tiles, or other features, restore them. Many buyers love historic homes and these little touches could really speak to someone.
6. Fix Torn Window Screens
Let’s face it, torn window screens do not give a first impression to a potential buyer. This is an inexpensive project that can really help your home to look its finest.
A fresh coat of paint can make a house look clean and refined. Focus on the rooms with dark paint colors of that have chipped or dirty paint. Choose lighter and neutral colors to brighten things up and speak to a majority of buyers. Do this yourself or hire a professional.
8. Address the Lighting
When buyers come through the home, it really makes a difference when everything is bright and inviting. Clean all of the globes of your lights, replace any damaged shades, and add lighting wherever needed. Update old light fixtures to give a more modern look to the home and find ways to bring in as much natural light as possible.
9. Focus on Landscaping
Win over potential buyers right when they pull up to the house by enhancing curb appeal. Revive your old and tired lawn, pull weeds, trim bushes and trees, put down mulch, and plant some vibrant flowers to add a pop of color. Head out to Wagner Garden Centers, Tangletown Gardens, Sunnyside Gardens, or your other favorite garden center in Minneapolis, and ask the staff for advice about the best flowers to plant for the season.
10. Repair Damage From Pets
Not every buyer will like pets, so it’s best to have your pets stay elsewhere while your home is on the market and repair any damage made by your pet. Scratches on a door may lead a buyer to question if there are pet stains on the floor. Refinishing or replacing a scratched up door is inexpensive and worth it when selling.
About Us – TheMLSonline
Our team at TheMLSonline Minnesota can help you through the entire selling process. An experienced real estate agent can make recommendations for repairs and help home sellers market their home, whether opting to sell as-is or making repairs. If your funds for repairs and renovations are limited, consider working with Fix2Sell. This company allows you to complete updates and improvements before marketing and working to sell your home. Home sellers receive guidance, access to quality materials and professionals, and the opportunity to make no payment until closing. This can allow you to receive a higher selling price from the buyer without needing a loan. Talk to our agents about how to sell a house needing repairs in Minneapolis today.
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