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More Than a Fixer-Upper: 5 Major Issues That Will Kill Your Home Sale

fixer-upperThough many people want a move-in ready home, others are willing to buy a house that needs a little work to get a break on the price and a chance to build equity. However, there’s a big difference between a fixer-upper and a money pit so the majority of buyers require a professional home inspection before completing the sale. Here are four major issues that can spook buyers or kill your final home sale price.

Structural Issues

Few things will turn off buyers faster than structural problems with your home. Issues with your foundation are expensive to fix and take a long time. Having to replace even one wall in your foundation can cost several thousand dollars and take a month or more to complete. And structural problems are not something you can ignore. The longer structural issues go unaddressed, the more likely you are to get damage elsewhere in your home, such as water damage and cracked walls and ceilings.

Roof Problems

A home with roof issues is going to be hard to sell. Putting a new roof on a home is an expensive proposition, costing thousands of dollars even for a small ranch home. If the roof is in bad shape it could cause water , mold or other damage that may not be immediately noticeable, which can be a risk that buyers don’t want to take on.

Mold or Insect Damage

One sure thing to give many buyers the heebie-jeebies is damage to your home that’s caused by mold or termites. Such damage can be very expensive to fix, and it’s often hard to find it all. Especially with mold, just a few spores left behind can lead to more problems in the future. And as we saw above, mold can be a sign of  excess moisture indicating leaks in the roof or foundation.

Electrical or Plumbing Problems

Due to the potential for fires many people fear problems with the electrical system. If you have faulty wiring revealed by the buyer’s home inspection expect buyers to run for the exits. Likewise, plumbing problems can involve massive ripping out of walls, water damage and other surprises.

HVAC System Issues

Another homeowner’s nightmare is the air conditioning or furnace failing, which always seems to happen on the hottest or coldest day of the year. Replacing one or both of those components is expensive. Professionals, at Smedley & Associates, say that a new furnace or central air system can easily cost $5,000 or more once you figure in the labor costs to install it. If your HVAC system has problems, you better be prepared to either replace before selling or knock down your price considerably to attract buyers.

If your home has any of these problems, it is worth it to spend the money to fix them before putting it on the market. You are likely to lose more value by ignoring the problems than what you spend on fixing them. And potential buyers will have the peace of mind that they won’t have to deal with those issues when they move in.

Photo Credit: Image courtesy of Gualberto107 @ freedigitalphotos.net