If you are selling your property as FSBO you probably know full well that you will be doing the bulk of work when it comes to, well, selling your property. This means that you likely also understand the fact that in order to increase the value of your property, you should repair or replace any unsightly conditions in your property that could potentially decrease the value of your home. This is why it is imperative to do an audit check on your property in order to determine which items need to be fixed.
One area of the house that is usually subjected to wear and tear (and also the part that most buyers tend to scrutinize) is the bathroom. No one wants a dirty and damaged bathroom. And a malfunctioning bathroom usually brings down the value of your home. If this sounds like your bathroom, follow these simple steps to help save on your bathroom renovation costs:
- Determine and Plan – You need to first determine the root of the problem. Hopefully, you can isolate the problem and maybe just fix that one issue, without having to tear down the entire bathroom. Once you have determined the problem, plan on how you can solve the problem and determine what might be needed to have it fixed.
- Compare Prices and Shop Around – One you determine the problem and you plan on how to fix the issue(s), it’s time for you to shop around and compare prices for the required materials. Remember that not all products are the same and, often, there are affordable alternatives. By comparing prices you will be able to determine which materials are cost effective. In addition, by doing your own shopping you could likely be able to negotiate a price or buy discounted materials.
- DIY – Yes, Do-It-Yourself, and you will be able to save a huge amount of money. It is time to put your high school “shop” knowledge into action. All you need is the required time necessary to allot to the issue. Caveat: you must recognize what you can and you cannot do. For issues that you cannot do, you should outsource to a handyman or a licensed contractor.
- Recycle and Reuse – During the renovation process you might encounter some materials that are still in good condition. If that’s the case, during your renovation you should minimize your waste by recycling and reusing these material(s). Be creative and do your best to reduce the use of new materials by reusing some old, yet still in good condition, materials.
Saving money means you have to put in time and effort. It’s a fair exchange. The amount of time you put in selling your property as FSBO will also determine (1) the value of your property, (2) how fast will you be able to sell your property and of course (3) how much profit you will gain from your sale.