If you have been using your house over the years, it may have several issues such as broken fixtures, peeling paints, dry rot, or plumbing issues. Most people are not sure whether to sell their houses in the condition they are or fix all issues first. There is no definite answer to the dilemma as several factors come into play when making a decision. Here are scenarios that can favor each side of the argument.
Reasons to Sell Your Home as it is
1. Requires Lots of Fixing
If the house has many broken and damaged areas and needs lots of work and money to fix, it may not be worth the effort. The cost of fixing the issues may be greater than the value you expect from the repairs. On the other hand, doing a few repairs may not add value. Consider selling the house as it is to flippers and contractors.
2. Outdated Appliances
You do not need to update your appliances to attract new customers. Some clients may not see the value of the new appliances. Ensure that all the appliances are clean and working rather than overhaul the whole kitchen and living room.
3. Redoing the Aesthetics
You may repaint peeling paint or fix a few broken fittings. However, avoid spending cash for a whole house makeover, installing fancy lighting, and redoing floors. Customers have different tastes and may not appreciate your efforts. Therefore, they are less likely to pay a premium for the makeover.
When You Should Fix your House
1. If it has Structural Problems
If the building has structural issues with the roof, doors, pillars, or foundation, it is important that you have them fixed. Most clients will not be willing to purchase a home that has issues with its structural integrity. It may be a small issue, such as problems with door rails or a roof that is caving in. However, if the cost of repair is too high and coming up with the cash would be a challenge, there are many home buyers in New Jersey that can help. You’d get a quick deal rather than the long repair process.
2. Minor but Prominent Issues
There are those minor issues that are so open that any potential client may see. It could be a water stain on the ceiling, holes in the wall, broken faucets, a water closet that is stained, cracked tiles, damaged planks on a wooden floor, and similar issues. Clients may use such issues to bargain for a lower price or walk away from a potential purchase. Fix such issues before staging an open house.
Determine Whether to Renovate or Sell the House as It is
The decision to renovate or sell depends on the house owner. If the renovations are likely to fetch a better price for the home with an increase that is greater than the cost of repairs, go for it. However, if the cost of repairs is too high or you are spending a lot on cosmetics, you are better off selling the house in the current condition. Seek expert assistance in estimating the house’s worth, cost of repairs, and its value to potential clients.