Should I Fix Up My Home or Try to Sell As Is?

Should I Fix Up My Home or Try to Sell As Is?


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If you’re looking to find out how to sell your house fast, you, my friend, have come to the right place. A migraine-inducing dilemma that sellers usually face is to decide whether it is feasible for them to make repairs before selling their house.

We buy houses, so we know what we’re talking about. The answer we give to our customers is: it depends on a variety of things; particularly how long you can wait before selling, the condition of the market, the type of repairs required, and who you’re selling the house to.

Duration

If I am looking to sell my home fast, I probably don’t have enough time to conduct structural repairs. Homes for sale that are in pristine condition are usually put on sale by owners that aren’t in a hurry. You may be able to do small repairs and renovations, but changing foundations or rebuilding walls takes time, and since you’re here looking to find out how to sell your house fast¸ your probably don’t have that time. It would hence be unwise for you to consider fixes that take too much time, especially if other time-sensitive considerations hang in the balance.

The Market

If I am looking to sell my home in a cold and stagnant real-estate market, making repairs is probably a bad idea. I’m looking to make repairs only if the repairs increase the market value of my house by more than their cost, and that is unlikely to happen in a market where there is already a dearth of buyers. Houses tend to go cheaply in dead markets, which mean that buyers are looking for something cheap; If I want to sell my home in such a market, increasing my selling price by $30,000 because I’ve made repairs worth $17,000 will make sure my house doesn’t even fit into most buyers’ price filters. 

Type of Repairs

Cosmetic repairs are important. If your, “houses for sale” ad has pictures of broken windows and cracked walls, no one’s going to be contacting you. Cosmetic repairs are also not time-consuming and can be dealt with inexpensively. Sometimes just repainting your kitchen cabinets in a darker color can give it a massive upgrade. Structural repairs, on the other hand, are expensive and time-taking. Again, If I’m looking to sell my home fast, I probably don’t have the time, willingness, or financial capability to withstand such repairs. 

The Buyer

We are a real estate investment company, and we buy houses that need repairs. We specialize in distressed properties so if you’re looking to sell fast and you come to us; we won’t be asking you to change that foundation. A smart seller will usually conduct a thorough cost-benefit analysis of conducting repairs, and if they face constraints in repairing their house, they usually come to companies like ours. If $30,000worth of repairs will only increase the market value of your house by $31,000 but take 3 months to complete, you may want to reconsider making them.

In conclusion, the answer to your question is that it depends on a variety of things. In general, if I am looking to sell my home as soon as possible, major repairs will be off the table. Since we’ve already figured out that you’re here because you want to sell fast, maybe try giving us a call.

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