The three high ticket items that Buyers like to know the age and condition of are the roof, furnace and windows. Replacing or fixing these items may or may not make sense prior to listing but being aware that they may become obstacles to your sale depending on price is important.
ROOF- If your roof is passed its life expectancy and is showing signs of major wear and tear it may not hurt to address the issue. There are roofing companies that will replace your roof in a day and offer competitive prices to do so. Many Home Owners may not have the money to pay for a new roof but if the roof is in rough shape it is better to let the Buyers know you are aware and then can either market the home with the roof “as is” or offer a credit. If selling “as is” you would want to price it accordingly.
FURNACE- The age of your furnace will always be a question that a serious Buyer will want to know. I do not suggest replacing this item unless it is broken or possibly”near the end of its useful life”. People do love new furnaces and it could certainly make your home sell faster, but it is hard to quantify the actual return on investment.
There are many deals through MASS SAVE that can help you to purchase a new more efficient furnace if necessary and MASS SAVE will even help to pay for the cost. If your furnace is old but is still working and a Buyer expresses concerns, then having the MASS SAVE information available may help to ease their concern.
Another strategy I have used successfully short of replacing the furnace is to have the Seller purchase a yearly HOME WARRANTY that will cover the furnace as well as many other items in the home should they stop working. Coldwell Banker offers this Warranty through AMERICAN HOME SHIELD. The Home Warranty covers many of the items in your home for the duration that your home is listed and transfers to the Buyer for a one year period. I have found that this purchase of approximately $500-$750 depending on the age and size of your home can go a long way in convincing a Buyer to overlook an older furnace or any other items that could be “nearing the end of their useful life”. The cost of the plan does not have to be paid until closing, but you as a Seller could also use the plan while your home is listed.
WINDOWS– Older windows have become a concern of many Buyers due to the cost of heating in the recent years. I do not, however, recommend that you go out and replace all your windows prior to selling unless they are in really poor shape. For many this would be cost prohibitive and may not give you the return on your investment you are looking for. It is important to know however that older windows could get in the way of a Buyer wanting to move forward on your home and therefore as a Seller you should be aware and be ready to produce your monthly utility costs. MASS SAVE does also have programs worth looking into to help replace older Windows and, therefore, may make it worth the investment.
Contact Rachel Bodner of Coldwell Banker to discuss what she can do to help you obtain top $ for YOUR Home!