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So Should you Complete Deferred Major Upgrades?
The first question to answer is, what are the obvious major upgrades? Your seller pre-inspection report (see Seller Tip # 7) identified potential major areas of concern so these are a great place to start. To which, you may wonder…
What If I Don’t Have The Money Or The Time (or just don’t want to be bothered)? At a minimum, get competitive bids for major upgrades so that you are prepared for negotiations with prospective buyers.
In summary, once you have completed the low to no cost do-it-yourself projects it’s critical to consider major deferred upgrades. Again, the seller pre-inspection report is invaluable in identifying areas of concern. It’s best to do the core system upgrades–like the HVAC or roof–before those that might relate to personal taste (IE. kitchen remodel) versus universal appeal (no one wants a leaky roof).
In any case, at a minimum it’s smart to price out all major deferred items to protect yourself during negotiations as well as simply pricing your property correctly from the start.
