Are you planning to sell your current home? If you’ve already decided to cash in, then you have two options when making the sale: You can either sell your house without making any repairs or do all the necessary changes before listing it in the market. Many people are not aware of the advantages and disadvantages associated with both of these options and hence end up making rush decisions.
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So, which is the best route to take? Well, both options are good but it depends on many things. First, what’s your budget? You could also have enough money to do the repairs but time isn’t on your side. In such a scenario, you’re left with no option but to learn how to sell a house as is. To help you reach the best decision, this article aims to discuss both sides of the coin. Let’s get down to business!
Are The Repairs Necessary?
Before delving any deeper, let’s first answer this burning question about the necessity of repairs. The answer can either be a “yes” or a “no” depending on the variables. Before making your decision, take a tour and see the quality of other homes on sale within your market. Now, compare the results with the current state of your home and estimate the probability of making good returns from your sale.
It’s worth noting that there are some repairs that must be done while others are not as important. Some people spend way too much trying to fix some things that might not be significant and could even go unnoticed by the buyer. For instance, patching holes on your roof or the walls and bathroom renovation should be among the primary things to consider because these can affect the appearance and quality of your home. Apart from aesthetics, another factor that should be prioritized is the health of those looking to live in that house.
Here is a full list of some of the repairs that may fall under the “mandatory” category:
- Water Damage And Mold
Do you have any leaks in your home? Fix them! This is one factor that can affect the health of those living in the house, especially if the leaks are from the sewage line. In addition, it can impact the appearance of your home. For instance, when those pipes underneath your wall start leaking (although it’s a rare case), water patches will start appearing on the wall and, in the long run, it could also impact the structural integrity of your house. Therefore, make sure you call a plumber to come and inspect your house before putting it up for sale.
- Damaged Floors
If you were the buyer, you wouldn’t want to buy something that will require a lot of necessary repairs before moving in, right? Well, that’s why fixing any damaged floors should be on top of your priority list. Depending on the installations required, this shouldn’t take up too much of your budget.
- Inspect The Roofs
Make sure the roofs are also in good condition to avoid any legal or financial repercussions. Just like the walls and floors, roofs can have a huge impact on a buyer’s decision. Poorly maintained ones can put off some investors and they can also be dangerous for those living under them. Of course, the best way to go about this issue is to find a roofing expert. This way, you’ll know which repairs are necessary and how much it’ll cost you in the long run.
Well, this is not mandatory per se, but it’ll help you get the best value for your home. Some people do the exterior paintings and forget about the inside, but both are very critical. Therefore, if you decide to apply fresh paint, make sure you do so for both the interior and exterior walls. One disadvantage of doing these repairs, though, is the fact that you might not know the buyer’s preference. So, it’s advisable that you weigh the benefits of doing so before investing in a paint job.
Another thing that might need to be looked at include fire hazards, electrical issues, major structural problems, and those related to toxic chemicals. Some of these things actually require you to step into the buyer’s shoes and see what’s necessary. At the end of the day, you’d want both parties to be happy after the transaction.
Benefits Of Making Repairs Before Selling Your Home
As you’ve already deduced from this article, there are repairs that are extremely necessary while others aren’t as important. Therefore, you can decide whether to do the renovations depending on the state of your house and the probability of you finding the best buyer. But what are the advantages of selling a newly-repaired home as opposed to selling it as is?
- High Value
The more repairs you make, the higher the value of your home goes. Therefore, as you invest in those new tiles and paints, remember that you’ll be repaid after the sale. However, don’t break your bank for some unnecessary repairs unless you really want to.
- Easier To Find Buyers
It’s a no-brainer that you’ll attract many buyers when your house is in good condition. As such, you’re likely to sell your home within a short period when all the important issues have been taken care of. However, there’s no guarantee that you’ll enjoy this benefit for every home you sell because several factors like market status and economy come into play.
Selling your home can be a very interesting venture when you know the ins and outs of the process. When deciding on the route to take in terms of repairs, always consider the current state of your home as compared to those around you. However, regardless of how good-looking your house might appear, there’re some repairs that ought to be done before going ahead with the sale. However, if you’re more concerned about the value of your property, you can go ahead and carry out as much renovation as you’d like. At the end of the day, you’ll not only attract many buyers, but also increase your chances of making a good amount of money out of it.