You’ve finally done it. You’ve found the perfect home for you.
The outside looks just right, it has the ideal number of rooms, and you love the way the light shines in through the windows. The neighborhood has great people, the yard has massive potential, and the garage is just the right size.
You’re ready to buy and move into this dream home, and move out of what you’ve been in for the past few years.
But as you leave your current home you come to an important question. Should you be selling a house as is, or should you be focusing on fixing it up and making all the repairs to restore it to perfect condition before putting it on the market?
Finding the answer to that question is no easy task. In this article, we’ll help you figure out whether you should fix up your home for sale, or if you should sell it as is.
The most important factor to consider when deciding whether or not to fix up a home is value. How much is your current value, and how much will your value increase if you were to take the pains to fix up the house?
As with anything in your life, the time and money that you would invest in fixing up the home are scarce resources. Thus, you want to make sure that you are making the wisest choice possible with those resources. You want a return on your investment.
So number one, ask yourself this question: “am I satisfied with receiving the house’s current value if I went with selling my house as is?” Then, ask yourself one more question: “would the cost of repairs be lower than the additional value I could get by fixing it up?”
If your home truly would benefit from repairs and skyrocket its value so that the additional price tag far outweighs the cost of repairs, then go with the positive return on your investment. If not, then maybe you should consider skipping the repairs.
Consider Your Location
Next, look at your location. What do all of the other homes in your area look like? Are they all extremely trim and in tip-top shape? Or could they all use a little fixing up?
Generally, the close your neighbors are to perfect condition, the harder your house will be to sell if yours isn’t. Homebuyers don’t want to purchase a home that already looks worse than their neighbors. So if your neighbors have their house in great condition then you should make sure your house matches theirs, at the very least, before putting it up on the market.
Consult a Professional Before You Decide on Selling a House As Is!
As with all things, consider consulting a professional before you make a decision about selling a house as is or not. They’ve been doing this a lot longer than you have and will be able to give you a more informed opinion tailored to your situation.
For more real estate advice, make sure to check out the rest of the articles on our website!