Maximize Your Home’s Value: Why Maintenance Matters Most
One of the first questions homeowners ask when they’re ready to sell is, “How much is my home worth?” Then they either speak to a realtor or go on Zillow or Redfin to get a ballpark list price. There are a number of important factors that go into how much you can get for your home, including the age of the home, location and the current real estate market. But one of the biggest factors is the condition of your home. In Manhattan, we have a lot of historic and older homes. That means regular upkeep.
We’re not just talking about updating the kitchen and bathroom, though those upgrades are important to buyers. We’re also talking about the things a potential buyer can’t necessarily see, but will ask about, such as the electrical wiring and plumbing.
Browns Harris Stevens realtor Andrea Saenz shared that one of the first questions her Manhattan clients ask about is regarding a home’s upkeep. “Potential homebuyers want to know when the electrical wiring was updated, the age of the pipes, when the boiler was replaced, how often the elevator is maintained and when the roof was replaced.”
Recent real estate data shows that well-maintained properties in Manhattan consistently sell for higher prices, sometimes by as much as 15-20% more than comparable homes in need of repairs or upgrades. With the average price of a Manhattan apartment now reaching $1.8 million and a Manhattan brownstone fetching between $2 million to $5 million, even small improvements can result in significant financial gains when it comes time to sell.
Keeping your property in top condition isn’t just about aesthetics; it's about preserving and enhancing its long-term value. According to the latest market reports, buyers are increasingly seeking turnkey homes where they can move in with minimal hassle.
As property managers, we provide comprehensive services to ensure your residence stays in optimal condition, from routine maintenance to overseeing and managing major repairs, so your home remains attractive to prospective buyers when you’re ready to sell.
Partnering with an experienced residential property care and management team gives you peace of mind, knowing that your investment is protected and its resale value is maximized. Whether you’re looking to maintain your home for personal use or eventually sell at a profit, we’re here to help you keep your home in pristine condition, putting you in the strongest resale position in an incredibly competitive Manhattan real estate market.
Gary Mindlin is co-founder and owner of Top Hat Home Services, a full-service property care and management company. Top Hat services homes in Manhattan and are known as experts in every aspect of building management, maintenance and repair, as well as renovation and construction supervision.