“Deferred maintenance” is a term used by realtors and real estate agents that refer to a home in which basic up-keep has been… well, deferred. This encompasses pretty much anything that can be maintained in a home, such as any repairs, replacements or upgrades made to exteriors, interiors, plumbing, etc. Here’s just a couple specifics this would include:
- Cracked glass on windows and doors
- Broken light or plumbing fixtures
- Damaged tiles and woodwork
- Unpleasant smells and odors
- Mold growth
- And so much more!
They say an ounce of prevention is better than a pound of cure, and you can bet that that statement applies here. The best way to deflect problems with your property’s upkeep is to schedule your regular maintenance. Have your weekly, monthly and annual upkeep laid out in a time table and stick with it. Sometimes, a problem will develop unscheduled and its best dealt with ASAP, if not immediately.
When you put off home repairs and upgrades for too long, they eventually become bigger problems that you’ll still have to deal with in the future. A small crack leads to a bigger one, a leak-y shower leaves water stains on the tiles, the list goes on forever! Sure, a minor problem isn’t always guaranteed to become a bigger one, but even little things can still cause major headaches.
The main reason why we let these sort of things slip by us is that we often remain unaffected as residents on the property.
Wall’s getting a little discoloration? Might be a minor eyesore, but the wall is otherwise doing it’s job.
Weed choking up the garden? Never had a green thumb anyway.
Sounds familiar? Well, it might seem “realistic” when you look at it that way, but when a buyer is hearing that? Put it somewhere closer to “negligent” or “careless.” Most buyers are looking for a home that’s move-in ready and don’t want to have to make repairs, especially if they’re moving to keep up with a major life event.
Homes with deferred maintenance tend to suffer from major price reductions in order to sell. It’s unlikely that a buyer would be willing to pay what you’re hoping for if you don’t at least offer a discount or offer to cover repairs at closing, which a lot of buyers just might demand.
Keep in mind, you can only expect all this if you can even find a willing buyer in the first place! Often, homeowners trying to sell a fixer-upper have to resort to selling to an investor. Some people might be particular about who they sell to, but if you’re dealing with a home with deferred maintenance, the pool of traditional buyers shrinks and you might not have much of a choice. Realistically, if the house requires huge upgrades, like a kitchen or bathroom remodel, you’re better off working with an investor.
Some may think that investors are all about making a quick and easy deal and it’s unlikely that you’ll get a fair price, but we at Housing Solutions say otherwise.
You can get top-dollar for your home when you work with us, guaranteed. We can reach out to professional and reputable buyers that can give you the best deal for your property every single time. You can get up to eight different offers on your home within 48 hours, with just one request!
Housing Solutions, LLC, is local, so we can work with you proactively, face-to-face. We offer flexibility and one-on-one consultations with real estate professionals, who have years of experience behind them. We take care of the whole process, from handling the repairs and upgrades to holding showings, so you don’t have to! While we handle all the work, you can focus on finding your new home.
Contact us now or fill out the input form through our website’s homepage and you can save yourself from all the hassle and stress of a traditional home sale. You can avail of our services and get your offers today!