How To Sell a Home That Needs Repairs
Three things you should do to successfully sell a fixer-upper.
If you’re thinking about selling your house, but it’s not quite ready to go on the market, what should you do? The answer to that question depends on the state of your house. Is it in disrepair, or does it just need an update? Are you looking to sell quickly, or are you willing to wait? There are a few options available to you, and each one has its pros and cons. Here are three things you can do when selling a fixer-upper:
1. Sell your house to an investor. They will make a cash offer and do the necessary repairs and renovations. This option is ideal if you’re looking to sell quickly, but keep in mind that you may not get the full market value of your house. Investors need to make a profit, so the offer they make will likely be lower than what you could get if you put your house on the market, which is why only a few people choose this route.
2. Price accordingly and sell as is. You could try pricing your house accordingly and selling it as-is to a retail buyer. This option is best if your house is livable but needs some updates. You may not get the full market value of your house, but you’ll likely get more than you would from an investor.
3. Make the necessary repairs and updates. This option is best if you’re willing to invest the time and money to make your house more attractive to buyers. Keep in mind that you’ll need to make efficient changes if you want to recoup your investment. Painting your cabinets with neutral colors and changing your flooring can be cost-effective changes that can make a big difference in the look and feel of your house.
You’ll need to consider the cost of repairs and updates, as well as the potential upside in the sale price. If you can’t recoup your investment, it may not make sense to go through with the updates. We can help you choose the right upgrades to make and analyze the numbers for a great return on your investment.
If you’re not sure which option is best for you or need help with your real estate goals, call or email us. We’re here to help.