If you have been thinking of selling your home and dreading all the costly repairs that need to be done before you sell, you may wonder what it would be worth selling “as is” versus paying someone to do the repairs.
Should I fix up my house or sell as is?
You know that if you fix up your home to sell you’re going to benefit from a higher price and a quicker sale. However, there may be times where making updates or repairs may not be the best option for selling your home and bringing you the return you are expecting. Before you get started painting and hiring a handyman for those repairs, here are some questions you should ask yourself to understand whether selling “as is” or repairing is the right decision.
First off, is your home’s condition so far gone that you would have to spend tens of thousands, or a hundred thousand, to get the home in move-in condition? Are there foundation problems, or serious layout issues that would hamper the sale? Are there unpermitted additions that make up a substantial portion of the home? Who are the buyers looking in your area and what are their expectations? How is the market in your neighborhood and general area? Are there many homes for sale, and how do they relate to your home? These are the questions you would want to have answered before spending any money to sell your home, and questions that any good real estate agent can help you answer.
Selling “As Is”
If you absolutely must, you can sell your home “as is”. There are individuals or companies looking to flip a house that they can get at a reasonable price and make money on later. If you’re like me, you never want to sell to these buyers because they are making the profit and not you.
A better option is to sell your home to buyers who are looking to buy a house with good bones that is under their budget so they can make it their own. These buyers will generally pay more than flippers, but the market has to be in a state were buyers would accept this option and be able to afford it.
What repairs should You make to the home before selling?
I don’t think any Realtor can say for certain that there is a list of items that need to be taken care of in order for a seller to sell a home. There are lots of variables to consider in regards to the different styles of homes and what are specific buyer’s tastes in your market. However, here is a general list that would apply to almost every selling situation to get a home into a condition that is clean and move in ready.
- Repairing any holes in the walls and ceilings
- Replacing any broken appliances or HVAC system
- Fixing leaky plumbing
- Replacing any damaged or severely worn flooring
- Getting electrical or unpermitted add-ons to code
- Fix any safety issues
- Replacing any broken window glass
- Foundation problems can scare buyers away, look into what it would take to repair any issues with your foundation
- Old kitchen & baths with dirty sinks or damaged counters or floors
- Dirty or outdated fixtures and wall plugs/sockets
- Touching up paint or new interior paint on worn surfaces
Choosing to repair your home or sell as-is is not always cut and dry. You could really benefit from the help of local real estate professional. A real estate agent will be able to assess how easy it will be to get your home into the condition that buyers in your market will be excited about. They should know if current market conditions even necessitate your home being fixed and what aspects of your specific home will add value without having you overspend and over improve with little return. Also, a real estate professional should have a team of professionals that are experienced, cost-effective, and handle all of your home’s needs. Knowing this before you dive in will save, not only your time, but also your money.
If you feel your home could benefit from some renovation before you sell, but not sure what to do, call me, your real estate specialist for a free consultation. Don’t worry if you don’t have the time, money, and resources to get it done. Our service is designed to get it all done for you and we can even defer all the costs until the close of escrow. Call us today 408.582.3272