I wish people told me how expensive fixing up a house to get ready to sell it would be. Spent $40k getting the house presentable. Smh.

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On what

Had to repaint the interior (including ceilings), had to rebuild the front entrance since it’s kind of a safety hazard, landscaping that hasn’t been maintained and just other stuff (dumpsters).

Should have spent the 40k 3 years ago and enjoyed the fruit of your labor

woulda only cost 20k back then

I’d guess the $40k outlay now is due to deferred regular maintenance thru the ownership period. How long did you own it? How much have you spent yearly to maintain it?

I was always told to expect to spend 1% to 3% (depending on the age of the house and the level of repair at acquisition) yearly for maintenance. I budget accordingly. Some years, I spend more, but others I spend less. It’s averaged out to about that over time.

Sounds about right.

Some realtors will offer to pay for the repairs and take that off the top of the final settlement amount.

All things considered, I’d guess that your $40k investment will yield you far more than $40k in final price. Also, in theory, if the house was in your name, you might have been able to get a HELOC on the property, which would just get paid back at sale.

Well whats the net profit after sell, let us know?

Selling price- cost- repair and maintenance=? Must be good amount

At a minimum, $600k.

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