When it comes time to sell your home, you have to make a few decisions. You might want to sell the house “as is” or complete those repairs. There are pluses and minuses to both of these options. Before you take a big step, here are a few things that you should take into consideration for your home.
Making the Right Choice
If you see a few homes for sale in your neighborhood, you might be tempted to put your house on the market. Depending on the condition of the home, it might need significant repairs before you can sell it. You could forget those fixes and list the house in its current state. Before you rush to the realtor, there are a few things you need to keep in mind. Selling your home without any repairs might be more convenient for you, but it can take away your profits. Fixing those home problem areas can help to get the best price for your home.
Selling Your House Without Repairs
What does “as is” mean for your home? When you list your home with this stipulation, you are not making any repairs to your home. Any prospective buyer purchases your home in its current condition. In other words, the buyers take full responsibility for your home’s repairs. While this might seem like a good deal for you, it often means that you have to sell your home at a reduced value.
Should You Fix Your Home?
If you have spent a significant amount of time in your home, it can be easy to forget about maintenance and repairs. However, this neglect can lead to problems when you are ready to sell your home. In most cases, you want to fix up your house. A well-maintained home is always desirable for potential buyers. In turn, you can sell your house quicker and for a higher profit.
There are some situations where you need to move quickly and don’t have the time to complete those repairs. In those instances, opting out of a repair might be your best choice. For example, if you are in foreclosure, selling your home “as is” could be the only way to avoid that process.
For those not in dire circumstances, then your home should be repaired before placing it on the market. You should research the nearby houses in your area. With the real estate listings, you can compare your home’s features and amenities to others in the local market. If you have a bathroom or kitchen that needs significant repair, it might be a good idea to fix those spaces before listing your home.
Buying Homes Listed “As Is”
Homes that need significant repairs do not fetch a high value on the market. There are very few first-time buyers who want to purchase a fixer-upper. However, some investors are looking at these homes as a project. House flippers often search for properties that are below fair market value. When they fix them up, they see a significant return on their investment. If your home needs significant repairs, then you might not want to take on these big projects by yourself. In those cases, many investors jump at the opportunity to take the home off your hands, but they purchase the house at a reduced value.
Many homes sold “as is” only need a few simple repairs. These buyers often find a home that can be customized to meet their own needs. If your home has a good structure, you will not have a problem finding a buyer for the property. With a few added touches, these buyers can get the homes of their dreams at a lower purchasing price.
Making Repairs Before Selling
Those small repairs might be worthwhile to complete for your home. You want to fix up those spaces that give your home the most value. For example, a new roof will cost a few thousand dollars. However, this project can raise your home’s value, and buyers will be rushing to purchase your house. With a new roof, they can benefit from your hard work and not worry about this structure for a few decades. Any major structural renovation should be at the top of your home repair list.
You also want to complete repairs that add value to your home. If there are holes in the ceilings or walls, then it might be time to fix those areas up before your home hits the market. Broken appliances and HVAC systems are excellent fixes for your home. You also want to make sure that the electricity and plumbing are updated. Low energy-efficient windows should be replaced with newer models. Finally, a fresh layer of paint can do wonders for your home. It can boost the appearance of the structure and impress those buyers.
Choose the Best Option
Whether you want to perform repairs or sell “as is,” you need to make a decision that best meets your needs. You might want to conduct some research in your local area to make the right decision for your home. While home repairs are often the most desirable option, it can cut into your profits. However, an unrepaired home will sell for less on the real estate marketplace.
If you want a professional opinion, you can consult a real estate agent. They have the expertise to help you make an informed decision about your home. These agents can quickly identify the repairs that add the most value to your home. With that advice, you don’t have to shell out precious money for unnecessary repairs. These are important decisions to make before placing a sale sign in your front yard.
Let Us Help With Your Home Projects
If you are ready to update or repair your windows, roof, or siding, RGB Construction is ready to help. We can assist with all those necessary home improvement projects. Our team will find the best options that meet your needs and budget. You can always schedule a consultation with our office by calling 856-264-9093.