A home with a long list of repairs needed is not a lost cause. Some home owners like the challenge of a fixer upper and others are ready to get rid of the house quick before it completely falls apart. If you’re apart of the latter and wondering how to sell a house that needs work, we have your guide.
There are 3 options a home seller has when looking to sell a house that needs work:
- Complete all repairs and renovations
- Make the most needed repairs
- Sell the home “as-is”
Each option has it’s pros and cons and considering all options with a real estate agent will help you make the best decision for your needs.
1. Complete all repairs and renovations
If the home is in desperate need of repairs, the best solution might be to fix everything and renovate. This first option is the most costly, but also could bring the most reward. A home that is renovated sells for a higher price than homes that need a lot of work. Buyers prefer move-in ready homes and since all the work is done, your real estate agent can list the home for a premium price.
The first step with this option is to price out how much it costs to fix the home up and compare it with how much you can afford. There’s no need to break the bank for these repairs, but if you can afford it, this is a profitable option for you.
2. Make the most needed repairs
If you’re tight on cash, time, or both, prioritizing the major repairs is definitely a viable option. For instance, the roof, HVAC, electrical, and plumbing are extremely important parts of a home to keep functioning. These should be at the top of the list if you can only make a few repairs.
Repairing these big ticket items will not only put the house in a better condition, but is also a great selling feature! Buyers love to know the roof is new or a new HVAC system was installed.
3. Sell the home “as is”
The last option is to just sell the home “as is” with all the repairs needed. Definitely get guidance from a qualified real estate agent before making this decision. While this is the easiest option, you will have to make some sacrifices. Properties needing repairs are priced lower than comparable homes that are move-in ready. Fixer uppers just can’t compete with turn-key homes. Selling a home “as-is” will also limit the number of buyers willing to tour and make an offer. These types of homes attract a specific type of buyer, usually an investor or a patient homeowner with a big budget. Because of this, it may take longer to sell a house that needs work without any repairs completed.
Hire a Real Estate Agent
It’s tempting to just sell your home by owner if it’s in such bad shape. Not matter which option you choose, hiring a qualified and experienced REALTOR® will help the sale of the home run smoother. Research also shows that homes sold by owner sell for less than homes sold by a real estate agent. Even with a home that needs work, a real estate agent has a wealth of knowledge and experience in the area, plus access to useful data that will get you the most accurate list price for your home. An agent will also help you decide which repairs need to be completed and guide you on what you can do to get top value for your house.
Location Williamson is a team of REALTORS® with over 12 years experience and experts in Williamson County, TN. Our goal is to provide a top-notch customer experience meeting every one of your needs. Whether you are buying, selling, or both, Location Williamson will put you at ease and make the process as smooth as possible. We are committed to selling homes for top value in less time and finding the right homes for buyers for the best price. Call to speak to one of our buyer or listing specialists at 615.469.1412.
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