Low-Cost Options & Home Repairs on a Budget
These home repairs on a budget won’t cost much and are easy to complete on your own. It will help with marketing and selling your home.
1. A Fresh Coat of Paint
Many home repairs can be costly, but giving your walls and perhaps even your home’s exterior a fresh coat of paint is a budget-friendly effort that can produce big rewards. Mike Sansevero can recommend opting for a light, neutral shade over bold, bright colors that might not appeal to all potential buyers.
2. Simple Kitchen Updates
Your kitchen and bathrooms will likely get the most attention from potential buyers, so you want to make sure that they’re up to par. In the kitchen, you can fix minor issues such as broken drawers or cabinet doors, repairing any damaged countertop laminate, and replacing any broken hinges. If your kitchen is in need of a facelift, consider painting your existing cabinets white for a fresh, modern look.
3. Easy Bathroom Repairs
In your bathroom, you should replace any discolored or cracked caulking; in fact, you might want to simply replace all the caulking for consistency and to block out moisture. If your faucet is leaky, a replacement is an affordable fix, and you can complete the upgrade with a new toilet seat and shower curtain.
More Expensive Options (That Pay Off)
While these fixes tend to cost a bit more, they’re worth the investment if you can find the funds to cover them.
1. Floor Makeovers
Hardwood floors have major appeal with potential buyers, but floors that are scratched, worn, or dull have the opposite effect. Refinishing your hardwood floors can be a sizeable investment, but one that pays off when it’s time to weigh offers. Likewise, if your home has old, dreary carpeting, replacing it will be worth the expense. You might discover that you have gorgeous hardwood floors just waiting to be discovered underneath.
2. Exterior Updates
You should devote some attention to your home’s exterior. Manicured landscaping, including a well-kept lawn, is a draw for potential buyers who are driving by. You might also consider replacing doorknobs and painting or fixing broken fences.
3. Replace Windows
If your home has old, drafty windows that look their age, newer, double-paned windows are often a major selling point with buyers. They’ll keep the warmth in, and the sound out.
How to Take Out a Loan for Home Repairs
If you need to make some major repairs before selling your home, it’s possible to get help with funding. Options such as a 203k loan can provide immediate cash flow for you to make necessary repairs, allowing you to recoup your investment and pay off your loan when your home sells. You can use a 203k loan to finance renovations on the home you already own.
You can also fund home repairs with a home equity loan or a home equity line of credit, if your home has enough equity to do so. These loans allow you to get cash from the equity in your home, up to a certain percentage of your home’s total value.
Get Advice Before You Sell
Before making any major changes, you should talk to your real estate agent, Mike Sansevero who can advise you on whether or not those changes will pay off when it comes time to sell. Each situation is different; it really depends on how your home compares to others in the market, and if it is a buyer’s market or a seller’s market in your area. For more advice on how to make the most money from selling your home, get in touch LauderdaleMike today on home repairs on a budget.
