There’s more Nanaimo real estate for sale now. That’s because spring and summer are the best times of the year to sell homes in Nanaimo. It also means there’s a lot more competition, because more houses on the market mean more choices for buyers.
If your home needs repairs, it’s easier and cheaper to have them done before you list your home. Fixing things first will cost less than having a buyer ask for credits or concessions or having them cancel their offer and putting your home back on the market.
There are nine most important reasons for making repairs before you list your home.
#1 Buyers will do inspections:
Their professional home inspector will find any issues your house has. If you know that repairs need to be done, it’s easier to fix them now instead of having a buyer ask for repair credits, a lower sales price, or both.
#2 Common repairs are easy to do:
Many times, they’re nothing more than little things you’ve gotten used to, like a slow drip from a faucet or a loose electrical plug. Repairs like these are inexpensive, easy to fix, and can usually be done in a weekend.
#3 Repairs are distractions:
Making repairs before you list your home for sale in Nanaimo keeps buyers from getting distracted by any drawbacks. A home in great repair lets buyers have the most positive experience possible when the buyers’ agent shows your home.
#4 Perception is reality:
Making sure repairs are done before putting your home on the market also increases the perceived value of your home, which can lead to a higher selling price. If buyers know your home is well maintained they’ll be more motivated to choose your house over the other Nanaimo real estate for sale that they’ve seen.
#5 It’s cheaper to do repairs early:
If your buyer has a 10 day inspection period and the sale is supposed to close in 30 days, that means you could only have 20 days to make any repairs the buyer asks for. While that might seem like a lot of time, most good maintenance people are booked up several weeks in advance. They’ll charge you extra for doing a rush job and you’ll have less time to shop around for a better price.
#6 Avoid over-inflated cost estimates:
When a buyer asks for a credit or a reduced selling price for making repairs themselves, their cost estimates will often be over-inflated. Some buyers know you have no other choice if you want to close on the sale. Your actual cost to fix things will usually be less, so it’s cheaper to fix things you know about before putting your home on the market.
#7 Minor issues can balloon into big ones:
Sometimes little, minor issues can end up costing you a sale if a buyer gets too emotional. Instead of negotiating how much it really costs to repair a crack in the sidewalk or to caulk a window, by making repairs ahead of time you’ll completely avoid irrational repair costs from an otherwise great buyer.
#8 Your home will be easier to sell:
Buyers’ agents love to show their clients a home that’s in great condition. They won’t be able to wait to show your home, and the more buyer traffic you have, the greater the chance of finding a buyer that is ready, willing, and able to pay the price you’re asking for your home for sale in Nanaimo.
#9: Your home will sell faster:
Imagine being able to brag to your friends, family, and coworkers that your real estate agent was able to sell your home faster than the average days on market - and for an asking price higher than the market comparables!