Home Seller Tip: Sweat may not add equity but no sweat will certainly cost money when ready to sell. I am referring to deferred maintenance which costs real dollars when selling a home.
Read "What is the cost of deferred maintenance?"
But sometimes the "sweat equity" is only imagined because the work has not been done at the expected level for the neighborhood. Is this Sweat Equity or Sweat Inequity ? Regardless of what one sees on the HGTV shows some projects should not be viewed as an opportunity to challenge yourself.
The lack of permitting may be spotted by the property inspector during the course of their inspection as some check permits (open and closed).
Get your permits and inspections done at the time the work is done and keep copies. The cost of retroactively obtaining permits and approval can cost a lot of money (and, more importantly, a sale).
It would be nice if knowing the limit of ones skills was a requirement of home ownership. I am one of those types who should not be allowed to touch a saw, a wrench or anything electrical except to plug it in!
Perhaps that is a little harsh.
Many of us can paint, clean carpets and mow the lawn. When you are ready to sell these are the things that will return your sweat investment.
The key is this: Addressing maintenance issues, staging your home professionally and
disclosing issues that impact the value and pricing appropriately for
the market, you are truly positioning your home to be sold!
If you are ready to sell your Melbourne, Florida home, please give me a call at 321-693-3850. Send me an email for your free market analysis.
Image courtesy of Stuart Miles at FreeDigitalPhotos.net