Have you ever wondered if it makes more sense to fix up your home when you are ready to sell or to sell it “as-is” with no renovations? Then you are in the right spot! Let’s dive into the decision to fix up or sell your home as-is!
You first want to sit down and decide if you actually have the time and money to get the repairs done. If the answer is no, then selling as-is will, of course, be the way to go.
Selling as-is will probably get you less for your home, but it’s less risky because it can be done without the hassle of making upgrades. You also don’t have to wonder if the money invested will yield a positive return!
You’ll also want to consider the overall condition of your home.
If your home has not been touched in years, then a little paint will not do much to the overall value of your home. Chances are buyers will most likely be planning to gut it and therefore selling as-is once again is the way to go.
Shows on HGTV about buying fixer-uppers have really brought a resurgence to buyers that want to do everything themselves! If this is not you then leave it to those who want the challenge.
Now let’s say, however, your home is in relatively good shape but may feel a bit lived in with scuffed walls. Maybe there are a few outdated rooms, but major items like the roof and heating system have been replaced.
In this case, I will recommend that my sellers invest in projects that don’t cost much but will go a long way. These are projects like some new paint, counters, refinishing floors and sometimes replacing bathroom vanities. These are minor upgrades that will certainly be worth making. Not only will they give your home a fresher look, but they will also increase your return on investment (ROI).
On the other hand, if you have an updated home that needs very few cosmetic upgrades but a major system or roof is near the end of its useful life, it may make sense to replace prior to going on the market if you have the money to do so. Even if your house looks beautiful, these big-ticket critical systems should probably be up-to-date. Buyers will likely estimate that items cost a lot more than they actually do, which will be reflected in a much lower offer price.
If you’re wondering about your home and what (if anything) you should do prior to listing, give me a call. I’d be happy to take a look! I have helped many home sellers over the years with these questions many times, sometimes meeting with them years in advance so that they can be prepared.
Have a great home buying and selling day! If you’d like to listen to me talk about this topic, head over to my YouTube channel and click subscribe!