This Common Mistake Can Cost Homeowners Big Money When Selling Their Home

Regularly scheduled home maintenance is one of the simplest ways to keep your property in good shape and avoid costly repairs down the line. Unfortunately, many homeowners put off this necessary upkeep until it's too late. By then, they're dealing with water damage, pests, or other expensive problems. Don't be one of those people - start taking care of your home today! 

Scheduling regular maintenance can help you stay on top of any potential issues before they become big problems. Not to mention, it'll save you money in the long run. So get started today and thank yourself later!

As Dayton Realtors we see home sellers make many common mistakes.  We see them nearly every day! 

The most common mistake homeowners make is overpricing the house. 

The second most common mistake is the topic of this blog: Delayed Home Maintenance.

1. The biggest reason houses don’t sell is the condition of the house!  

This can include the lack of cosmetic updates.  We hear buyers say, “this house is stuck in the 1970s.”  Buyers also notice when walking around the house or through a home, items that need to be repaired.   Buyers tell their agents, “if they didn’t fix what I can easily see while walking through the house in 5 minutes, I wonder what else hasn’t been done that I can’t see.” 

2. Delayed home maintenance can lead to more expensive repairs in the future.

We had a seller that failed to seal or stain their large wood deck for a year or two.  Then the sellers had to move with their job out of the area and they decided to rent the house for a few years.  A couple more years passed by, without the homeowners resealing/staining the deck.   Due to personal financial reasons, the owners decided to sell their Dayton Ohio real estate.   They call us to help them list their home.  We listed the home.  The home inspector and the VA appraiser both flagged the rotting deck as unsafe.  Guess what? They didn’t sell their house for the amount they really wanted, and they had to pay to have portions of the deck replaced.  If the owner had just purchased a can or two of stain and spent a few hours applying every other year, they would have saved thousands of dollars.

3. Small annual home maintenance projects go a long way to keeping your home in good repair potentially saving homeowners large sums of money for major repairs. 

Here are just a few common items that we see neglected:

• Heating and A/C systems – seasonal cleaning and service can extend the life of these mechanical systems by many years.
• Roof Maintenance – Having your roof checked out every 1-2 years for nail pops, dislodged flashing, or missing shingles can save you from water intrusion causing mold in walls and drywall damage.
• Termites – Get your home inspected every few years for termites.  Once termites have done damage to wall and floor joists, repairs are costly. 
• Septic System – If you are not on city or county sewer service, you should have your septic tank cleaned every 1-2 years.  Can you go longer than that? Sure, your tank might hold more, but solid waste may clog your leach field or dry well.  Have you priced what rebuilding a leach field or dry well will cost you?  You don’t want to.  And if you need to make repairs or have it rebuilt you might need to bring your system up to current county requirements which might require an entirely new system

4. When a house hasn’t received many updates from when it was built, a few improvements can make a huge difference without spending tens of thousands of dollars.

Some such improvements include:

• painting the exterior (front doors and shutters) and interior with up-to-date colors
• replace the carpets
• replace light fixtures inside and outside the home
• install new faucets in the kitchen and baths

5. By delaying these repairs, many homeowners are unaware of hidden damage.

The keyword is hidden.  Hidden mold.  Hidden rot.  Hidden termite damage.

6. Hidden defects in a home are the biggest cause of canceled home purchase contracts.

Buyers are not going to pay the same price for a home when defects are discovered during the inspection period.  Most sellers who have delayed repairs, don’t have the cash on hand to pay for the repairs at closing.  Some sellers compensate the buyers by reducing the contract price by large numbers, $5,000-$40,000, or by paying those amounts to contractors from the proceeds of the sale.  However, a large percentage of these homes come back on the market due to these issues.

Home maintenance may seem like a pain, but it’s nothing in comparison to the cost of repairing the damage that could have been avoided with a bit of proactive care. So, don’t wait until something breaks or starts leaking to take care of it – do it now. Tackle those small annual projects and you’ll be glad you did when that big repair bill comes rolling in. And if you think you can put off home repairs because “the next owner will take care of it,” think again. Hidden defects are the number one reason contracts for home purchases fall through, so taking care of your home is really in your best interest. Are you convinced? Start your maintenance project today!

When you are ready to sell your home, we are ready to assist you!