Do I Fix or Do I Sell As-Is?
Do I Fix or Sell as-is
Getting a house ready to sell can be hard work. In the beginning, you might have an assumption that you can get a pretty good price for your home. Until having a closer look around and noticing areas to be fixed. The dilemma is weighing out your time and money to attract the best offer.
Many sellers will consider doing those repairs and updates to increase the value of their home and potentially get a good price for it. Although one overlooked factor is your time and energy. Certainly, this can be overwhelming when a buyer might never notice those repairs or consider paying extra for it.
Time is money.
Let’s say you did a kitchen renovation for $10,000 but you spent your evenings and weekends of accumulating quotes, pricing materials, designing and sometimes doing the handiwork. Those hours should be considered in the cost even though you didn’t spend actual dollars, but the expense of your stress and time. Let’s say you spent an average of 100 hours on this project and you value your time at $30/hr (avg. contractor rate). That equals to $3,000 that won’t reflect in the value of the home. You are also spending a month living under construction.
And the worst part is after all that hard work, you don’t even get to enjoy it!
What homebuyers are looking for?
Some homebuyers say they want to buy fixer-upper homes but they’re generally looking for those that require only light cosmetic repairs. Buyers who gravitate toward fixer-uppers are those who either don’t qualify to buy a more expensive home or they want to make a profit by fixing up the home themselves. These buyers will always discount the price with the cost of repair and more for the inconvenience.
We hope this article helps you make that decision if you should make those major repairs or be worry-free and sell as-is. Thankfully there are options for you to unload that stress-giving property and avoid the pesky low-ball conditional offers by contacting us. You can get rid of your property quickly without putting any money into it.
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