When you need to unload a house, is it worth renovating it first? Or should you sell a house as is? Depending on your timeline and goals, the answer to these questions can vary.
But if you’re in a hurry and looking for the easiest process, there is one leading answer. Read on to find a guide covering the pros and cons of selling house as is versus renovating!
Sell a House As Is Fast to Save Time
When you’re working hard at the office or juggling kids, you don’t have time for the traditional real estate process. Finding a reputable broker, drawing up agreements, and hosting showings take time. On the other hand, when you sell a house as is, you can avoid these time-consuming hassles.
Save time that you can put toward planning camping trips or holiday parties. A company that buys a house as is won’t waste time listing it, taking pictures, and writing copy.
They’ll simply look at the property’s condition, neighborhood, and listed value. And there’s no need to hire an inspector or other contractors to look over the house first. The company will handle the physical assessment.
All you have to do is fill out a simple form on a company’s website with contact information or give them a call to get started. With a streamlined process that offers a full, upfront payment, you won’t need to spend hours signing documents. And best of all, you won’t have the surprise of a real estate commission on the backend of the process.
Sell a House As Is to Avoid Costly Repairs
While your house might benefit from air conditioning on a hot summer day, maybe yours is due for replacement. And if you don’t have the money to invest in that repair or replacement, you might diminish your home’s value. Sometimes it’s just not financially doable to make changes to an HVAC system or bathroom.
Fortunately, selling a house as is avoids this sticky situation. When it comes to advice about selling house as is, the biggest one is not to worry about repairs. You can unload the home regardless of whether the wallpaper is peeling or the wood paneling looks dated.
Save thousands of dollars on overhauling your kitchen or fixing plumbing leaks. And avoid the time investment of comparing brands for a new furnace or water heater. Just sell a house as is!
Get Money Immediately When You Sell a House As Is
Going through the traditional sales process can take months when you’re selling a home. You have to have money ready to go on the front end to secure a real estate agent and be prepared to cover unexpected fees. And oftentimes, if you’re pressured into hiring someone to stage your home, that ramps up the cost, too.
More money flows out than in, putting your cash flow situation in a bind. When you sell a house as is, by contrast, you’ll get a much faster transaction. In fact, you may be able to get a cash offer within a day!
For younger buyers without as much in their reserves, this makes sense. Getting cash immediately could provide enough cushion to make a down payment on another property. Younger buyers may be more willing to purchase older homes at cheaper prices that could use some repair work over several years.
Pursue Repairs and Renovations to Cast a Wider Net
Sometimes doing renovations to your home can have a positive impact. Are you hoping to attract a lot of interest in your home? If you want to create a competitive marketplace for your home, pursuing repairs makes sense.
Determine the state of the housing market before you invest in renovations. While bathrooms and kitchens tend to provide a return on investment, that may not be true in a buyer’s market. If you don’t have the upper hand as seller, you won’t cast the wide net you’re expecting.
Another consideration is your timetable for renovations. If all of the contractors in your area are booked for months, your timetable for selling will be delayed, too. Renovations may not be worth the expense of delaying a sale.
Renovations Provide the Possibility of Higher Offers
Investing in renovations may yield a higher offer. A kitchen with peeling laminate floors and chipped countertops will be a turnoff to potential buyers. But adding granite, painting cabinets, or replacing floors can nudge your asking price higher.
The problem with this strategy, however, is that you might price yourself out of the neighborhood. Making your home look too nice puts it at the top of the range, and that’s not where you want to be. Even though stainless steel and hardwoods might provide the wow factor, they may not provide the return on investment you want.
What is your renovation budget? A real estate agent might give you a tall order of updates to pursue. And if you aren’t clear about your financial limits, it’s easy to get carried away.
Strategically, it’s wise to check out comparable homes in your neighborhood. And consider whether you are in a neighborhood that’s on the rise or on a downward trajectory. If the latter is true, selling your house as is could be the better route to go.
Know the Pros and Cons of Selling House As Is
Knowing how to sell a house as is can result in an efficient sale that puts cash in your pockets. You won’t gamble on cosmetic renovations that don’t pay off in the long run. And you’ll save time by not having to deal with unreliable contractors or choosy buyers.
When you want to sell a house as is fast, reach out to us and we can help!