Are you getting ready to sell your home? Every single day Americans are selling and buying homes as their lives and families change and grow.
Most people can relate to having a busy life. Throughout the hustle and bustle of everyday living, it is hard to juggle everything that is thrown at you. Your work, co-workers, family, friends, doctors appointments, pets, cleaning, cooking, the kids’ homework. It is a lot to try and manage.
Now, you are looking to sell your home and move somewhere new. Which is exciting for you, but it is also stressful. And you know there are probably a few issues that you would like to fix before putting your home on the market to sell.
We get asked questions about home selling, buying, and appraisals all the time. One really common question is, “should I fix up my home or sell it as-is?” The short answer is, it depends.
Fix-It or Just Sell It?
When it comes time to finally talk about selling your home a big concern for homeowners is what actually matters when it comes to fixing up to sell. Or if you even should fix it up at all.
Now, the question of “fix-up my home or sell it?” is not so easily answered. All of it depends on a range of different factors. Just a few of the questions you need to answer:
- Do I have the time?
- Do I have the money?
- Do I have the resources (manpower, materials, etc.)?
- What kind of repairs are necessary?
- How out of date is my home?
- When was my home built?
Don’t get us wrong, we understand that any home that has a family living in it is going to need some general repairs done.
Like that time your son tried to climb on the counter and broke one of the cabinet doors (which still needs fixing). Or like the other time you were rearranging and accidentally put a hole in the wall (then you just put a painting over the hole instead of patching it up).
Every home is going to suffer some general wear and tear. But what else is actually necessary for you to do? And is it even worth it?
Fix-It?
So, should you fix up your home or sell it as-is? That is the question.
If you don’t already, you need to look at your home as an investment. Once you finally go to sell it, you want to at least get out of it what you have put in. Ideally, you want to get more than what you paid for it.
So if you are up to the task and have the financial resources to fix some things up, you really should. Even just a new coat of paint around the inside and outside of the home can make a tired house look like new again and really attract some interested buyers.
Painting is definitely the most cost-effective way to increase the value of your home. It isn’t that expensive to hire someone to come paint or even just to paint it yourself if you know how to. But that fresh coat of paint can increase your home’s value more than you might think.
Obviously, some other small updates like replacing the old light fixtures with newer ones will also help the home feel more updated.
The more costly updates like the kitchen, appliances, bathrooms, and things like that are more difficult and expensive to do. However, they yield the most return on investment when it comes to selling the home.
These types of updates will help increase the value of your home in a much more significant way. But they will also draw in more interested buyers. Knowing that there are little to no repairs, renovations, or maintenance issues is a big deal for a buyer who wants something move-in ready.
And let’s be honest, a home buyer that is going to pay full price for your home isn’t looking for a project. It can actually be a great idea to consult with either your real estate agent or better yet, a licensed real estate appraiser on what projects would best increase the value of your home.
Sell It As-Is?
If you are leaning towards just selling your home as-is, there are a few things that you need to understand before making that decision. If you sell a home as-is, you aren’t going to get as much money out of it as you would if you fixed it up. That’s just the truth of the matter.
How much you get out of your home is going to range depending on what needs to be fixed, repaired, or updated. Generally speaking, the more repairs and maintenance there is will directly correlate with how much less you will get for the home.
However, getting the most out of your home investment might not be as big of a concern for you.
Perhaps you just want to sell the home before it is foreclosed on. Or maybe you are moving out of state for family or your job and don’t have the time needed to focus on fixing up your home.
Even if you just don’t have the energy to fix it up, that’s okay. Selling your home “as-is” is a normal option that many home sellers opt to do.
That is why there are plenty of buyers out there looking for a property they can fix up the way they want to or fix it up to sell for a profit. So if you want to sell your home “as-is” you absolutely can. Just know that you aren’t going to get the full potential amount out of the home.
If you want to learn more about what option might be best for you, give us a call. It might just be worth your time to talk with one of our experienced team members. They will help you better understand what would make more sense for your situation so that you can make a truly informed decision. To talk with one of our team members give us a call at (941) 743-3700.
