Inheriting From Our Parents; Having to Fix Up Homes to Prepare for Showings

Recently, I was helping a couple sell a home they had inherited from their mother. Usually when I get this call, I know what to expect. Most people as they age quit spending money on their homes and rarely update anything. Clients will even say “I am embarrassed for you to see my mom’s home; it is such a mess.”

No problems though: so was my grandmother’s home! She and granddaddy had nailed plywood up to hold in sagging drywall, 20 year old carpet, a floor furnace, no central heat and I could go on. The problem with homes like this is where to begin.

With neglected homes, there is a life time of repairs and upgrades to deal with and the home begins to be a money pit. A balancing act begins of exactly how much time and money should be spent as people try and prepare older homes to be sold.

It is not usually cost effective to bring a dated house up to speed. You cannot spend money on kitchens, baths, electrical, heating etc. and get that money back immediately upon sale. But, you have to get it to a certain point. Painting inside and out and getting the yard/exterior looking well kept is a must. The next least expensive fix is new light fixtures. These few things make a huge difference in how buyers react to a home.

The best way to avoid this is to encourage your parents to start dealing with some issues early on. This is not bad advice for us 50-somethings either. There are certain items that carry sentimental value but most of it can go. I got my parents to start getting rid of some of their stuff by suggesting they could get money for it. My dad especially liked the idea; I told him you might as well earn the money while the things could still sell and you are here to use the money.

In conclusion, we cleared out the personal belongings and made the necessary repairs and improvements to get the home sold. The family did have to put up some money to get things done but they were able to recoup part of it when the property closed. It is best if you are faced with a similar situation to get a Realtor involved up front. This saves you time and money, because you will be directing your efforts on the right things.

-Sharon J. Coleman