Should you as a homeowner have to spend money to sell your home?
The answer depends on you!
Of course, if you want to make the most money on the sale, then you should make upgrades in line with what you see in the neighborhood if you have the ability. A seasoned real estate agent will be able to help you decide what updates you should do to your home to receive the maximum value for your neighborhood. Always be careful not to over improve your property as you are preparing it for sale because you will not get the value of the upgrades back out of your home. Again, consult your local real estate professional for more information about over improving a home.
What if your home has no structural or major issues, but still needs updating or minor repair and you don't have the time, money, or patience to do the work yourself? Buyers in today's market generally prefer something that is very updated, but you don't necessarily have to have a perfectly updated home to sell. If, structurally, the home is in great shape, then you may be able to get away with not making changes (of course, if you have a purple wall or blue carpet, you will want to make those neutral). Be prepared to adjust your price accordingly, and expect longer days on market. With the right agent on your team you can get the home sold in a reasonable amount of time. You will want to make sure that the home is sparkling clean and decluttered to make the property look nicer to buyers. It is always important to have a clean home when you are selling, but in dated homes it is especially important to how that the home has been kept clean.
Now the final route is if your home has major issues such as roof, plumbing, foundation, and other majorly costly repairs. Homes cannot be financed if there are issues with a roof, foundaiton, plumbing and sometimes AC. This means if you can't fix it yourself, you will have to sell your home to a cash buyer that will purchase the home as is, of course with a reduction to price. Sometimes selling to a cash buyer is the easy route if there is a lot of work and you've got a lot of equity in a home. If you are thinking about going this route, you should consult a real estate professional first to get more information about this option. Not all investors care about the home owner in transactions, and it is important that you consult an agent that can guide you through the process instead of blindly dealing with an investor that can talk you out of your home. I specialize in helping distressed homeowners find solutions to selling their property for the maximum dollar with real market stats. If you do not want to go the cash sale route, you will need to have the foundation, roof, or other major issues repaired before listing, because a foundation issue found in the middle of a transaction can ruin the entire deal!