Sell Your Home As Is or Make the Repairs?
The time has finally come. You’re preparing to sell your home. As you start making plans, you notice that parts of your house are in disrepair. You may need to update the lighting, paint the exterior, or address dry rot. Whatever the case, no one said selling a home would be easy, at least if you follow the traditional route. But there’s another option—a more lucrative option—that will put money in your pocket without the need for costly repairs. You could sell your house “as is.”
Selling a Home “As Is”
Many homeowners who decide to sell their home as is feel that the repairs needed are just too expensive. Fixing an electrical system that is far outdated, for example, is a big, expensive job that’s hard to stomach.
If you don’t have the money, you can price your home a little lower than normal to accommodate the additional cost and responsibility the buyer would take on. But, if the house is in dire need of extensive multi-room repairs, you’re going to want to price even lower to attract a buyer.
Well, that’s assuming you’re selling on the open market with a real estate agent.
A better option might be to sell your property as is to a real estate investor. An investor is looking to buy into the community—even an old, ugly home—and invest in the property itself. They have contractors on call to handle such repairs for a good price.
Making the Repairs
Your other option is, if possible, to make the repairs. Many homeowners will bite the bullet and pay for home repairs if the situation isn’t too dire. For example, if you just need a fresh coat of paint indoors, that’s easy enough to tackle. You might even be able to tack on a bit to your asking price.
But again, the repairs should be relatively minor.