Repair Your Home Before Selling It
You’ve decided to sell your house in SWFL but it’s not in the best shape? Are you wondering if you should make repairs or renovations. The paint is chipped, woodwork has scratches, or worse issues: electrical or plumbing issues. Now, you’re stuck between making repairs to your house or selling it “as-is”. Experts say that more than one-third of total home sales fall through because of issues with the condition of the house. This is a major reason why you should consider repairing your house before you attempt to sell it.
What Does it Mean to Sell “As-Is”?
You might be wondering what selling as-is means. It just means that you are selling your house in its current condition without any repairs or renovations. People often sell their property as-is when they cannot afford to make necessary repairs or just want to be out of it as quickly as possible. If you decide to go this route, at least thoroughly clean the house because this alone can attract a buyer!
Only Fix Important Things if On a Budget
If you cannot fix everything, then focus on fixing the important things in your house. If you’re on a budget, stick to these items first:
- The bathrooms. Make repairs on a leaky faucet or running toilet. Clean out the grout and make sure the bathroom is sparkling clean. Remove dingy, dirty or peeling wallpaper. You could paint the walls – very inexpensive way to give the bathrooms a makeover! Remember, a clean & working bathroom is a very important selling point.
- The kitchen. You don’t have to go all-out and fully renovate a kitchen. Clean everything and replace the lighting, install new fixtures, and fix the handles & hinges of all the drawers/cabinets.
- The entire home interior. If you have some budget left over, try to repaint walls to brighten it up, change curtains, repair & fill nail holes, refinish hardwood floors, & clean, clean, CLEAN!
Other Items to Consider
Keep in mind, depending on market conditions – say, if it’s a “hot” market, the condition of your house may not matter to a potential buyer. Buyers in a red-hot market know that if they don’t snatch the house up, there are plenty of other buyers out there who will. However, if you’re selling in a “slow” market, your house could sit there for months & take a very long time to sell.
Another factor to consider is: the competing housing inventory in your area. If other homes in your neighborhood are all in good-to-excellent condition, noticeable repairs may keep your house from selling or cause you to lower your sales price.
Lastly, you want to consider your ROI (return on investment) when thinking about renovations. Some repairs can be pricey and may not add much to the sale price of the house. For example, you might spring for a brand-new kitchen -which can be pricey, without augmenting what a buyer or investor is willing to pay for the property. Important repairs like faulty electrical wiring will definitely need to be done in order to sell the house at all.
Know When to Make a Fix
Selling a house in Southwest Florida is never easy. You might be wondering whether you should do the repairs or just sell it “as-is”. Always remember to note the pros and cons of making repairs before trying to sell. If you cannot afford the repairs, then selling “as-is” is a viable option. Talk to us to see how we can help!
