Should You Fix Up Your Home or Sell It As Is?

Wouldn’t it be great to be able to read the minds of homebuyers? Well… maybe not all the time! For some, a pool is a value-added extra, whereas for others it is a standard requirement. Some home buyers want to do a little fixing up so selling to them as is can be just fine. However, others want to move in without needing to do anything, which means everything needs to be in good working order. Here are some guidelines to consider when choosing to sell as is or opting to fix up.

Should You Fix Up Your Home or Sell It As Is?

Be Wary of Over-Capitalizing

Spending more money than you need to on home improvement projects when trying to sell your house is the cardinal sin. There is always the danger of not getting back a return on the time and money spent. Don’t put in a hot tub or build a fire pit, or extend the living room because you think it will fetch a higher price.

Keep your property in line with what is available in your area. Scope out the condition of other homes for sale in your neighborhood. Try to establish if there is a market for fixer-uppers. If hot tubs are the norm, either put one in or, even better, offer to do so as a condition of sale with a serious buyer.

Market Conditions

Over the past 18 months, house prices have increased on average by 19 percent. The hot real estate market can be attributed to people looking for houses with a space for a home office thanks to COVID-19. While prices may flatten out later this year, right now it is a seller’s market. Chat with a real estate professional in your area to get a feel first before spending money. Be cautious though because houses in need of major repairs don’t sell quickly and might even sell at a discount.

Selling a Fixer-Upper

Few buyers are really into DIY projects and loathe the idea of fixing things that aren’t working properly. Think of who a potential buyer might be. A young couple might give fixer upper a go, but a couple of working parents with children probably won’t want to. As a guideline think of who would be attracted to your family home style neighborhood.

Return on Investment

There is a distinction between fixing up and improving something. One is maintenance and the other is an investment. If new sliding windows will help add curb appeal and in turn help to sell the house, then the investment is worthwhile. Fixing up means repairing broken windows and resealing them along with other repairs to your home.

Make Your House Sellable

Whether opting to sell as is, doing some repairs, or investing to add value, there is a common denominator. The basic services and functioning parts of a home should all be working. Spend money in order of priority: basics, cosmetics, improvements.

Basics

Start with plumbing, electrics, windows and leaks. Then move up the scale to the HVAC and the appliances.

Cosmetics

Once the basics are working properly, address small cosmetic issues such as dented garage doors, potholes in the drive, and sticky windows. Fill holes and chips in the walls and touch up paint. Bathrooms will look better with a coat of white paint. Always remember, bathrooms and kitchens sell houses.

Improvements

Having attended to the basics and the cosmetics, think about investing. If a $10,000 investment in a kitchen or bathroom adds $15,000 plus to the sale price, then you might consider the project worth it.

Do the Right Thing

Selling your home “as is” is not an exercise in getting away with stuff. Instead, it should be about integrity and avoiding future conflict. The right thing to do is present serious buyers with an honest list (sellers disclosure) of what needs attention. They will have taken a good look round, perhaps more than once, and will have an idea of their own about what needs to be fixed.

Having a list for both parties to sign is a good way to confirm their understanding and avoid ambiguity and misunderstandings which can delay and even stall the sale. Integrity, therefore, is the safeguard against future litigation.

Additional Reading: Top 15 Home Updates That Pay Off

Integrity Contracting, Inc. | Roofing & Siding Contractors Omaha

Integrity Contracting, Inc is a general contractor providing services in Eastern Nebraska and Western Iowa. We are a multifaceted home construction company that specializes in roofing, siding, painting, home remodeling, tree trimming, and tree removal. Integrity Contracting Inc. superior service offers the quality you deserve with the affordability you can respect. Let our experienced Omaha roofing, siding, seamless gutter, and home remodeling professionals tackle your next project so you can relax and have a stress-free experience. Contact Integrity Contractors Inc. today!