Should You Sell Your House As-Is Or Fix It Up Before Selling?
Posted on: 23 July 2019
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Many homeowners face the dilemma of wanting to sell their homes but not being sure whether to sell as-is or to put some money in their homes to fix them up. This is a big decision to make. Here are some of the factors you should consider if you are facing this decision.
Timing
The first thing to think about is timing. Do you need to sell right away or do you have some time before you really need to sell and move? If you are in a big rush to move out of this house and into another one, fixing up your current house might not make sense. After all, making repairs takes time, and you might not have a lot of time for this. Timing is always an important factor to consider when making a decision like this.
Potential for recouping the investment
The second factor to consider is the potential for recouping your investment. To remodel or update your home, it will cost money. If you add up how much it will cost, you will need to consider whether you would be able to recoup this money. For example, if you could get $100,000 for your house just as it is right now, but if you could get $150,000 after remodeling it, you will need to see if you can remodel it for $50,000 or less. If you could not, then it would not make financial sense to update it if you would not be able to get this much money back out of it. You would make more money by selling it as-is in this case.
Possibility of selling the house as it is
The other thing to consider is the current real estate market. If the market is slow right now, there might not be a lot of people looking for homes to buy, and this means that there might be very few people looking for a fixer-upper home. You should talk to a real estate agent to find out if there are people looking for as-is homes right now. If there are, selling as it is could be a good decision. If there are not people like this, then you would likely have a difficult time finding a buyer.
If you have questions about selling your home, do not hesitate to call a real estate agency and speak to an agent. They may be able to help.