When you’re about to put your home on the market, one of the biggest questions is whether it’s worth it to spend time and money on repairs, or just go ahead and sell it as-is.
The answer to this depends on a number of factors. For example, will you be selling in a hot or cold real estate market? If you decide to perform major repairs, will it be likely for you to get a return on your investment?
To help you make the right decision, here are some of the most important things to consider:
Selling your home as-is
Perhaps your home needs serious repairs. It might have a faulty electrical system, leaky faucets, wooden floors with deep scratches, walls riddled with holes, and so on. In other words, it will be costly and very challenging to fix. If this is the case, the best move may be to set a low enough price that could help you get multiple offers.
Selling as-is also the best option in situations wherein you might need to move quickly, whether for personal or financial reasons, and performing repairs just does not make sense for your timetable. If your home is being foreclosed upon, for example, simply selling it without performing repairs will be a much better option, since it will allow you to avoid the consequences of foreclosure.
Fixing up your home
In most situations however, fixing up your home before it’s listed is often the most ideal option. A modern, well-maintained home attracts the most prospective buyers, increasing your likelihood of earning a profit and selling it quickly.
The challenge lies in figuring out exactly which repairs you should complete, as some are more worthwhile than others. Start by listing down all of the fixes you think your home needs, and determine which ones are the most likely to add the most value.
You can also consider checking out some open houses in your area to see how your home compares to other available homes on the market. In case you discover that other properties in your area all have features like updated kitchens and remodeled bathrooms for example, that’s an indication that you may have a hard time selling your home if it does not have those types of features.
Get a professional opinion
In general, deciding whether to perform repairs or sell your home as-is is not something you should do on your own without the opinion of a professional. A real estate agent will help you identify areas of improvement and determine which repairs will add the most value, without breaking the bank.
Whichever decision you choose, having an experienced realtor at your side will help you navigate the complex transaction, and make the experience more seamless and stress-free.
Need help selling your home? Work with the top realtor in Charlotte, NC! Get in touch with our team at Valarie R. Brooks Real Estate today by calling 704.488.5458, or send us an email at Valarie(at)ValarieRBrooks(dotted)com.