Should You Fix Your House or Sell As-Is? That’s a pretty common question that we see amongst home owners. In this article we’ll go through the process of fixing to see if it’s better than selling as-is.
Whenever you’re looking to sell your home you can try to list on the Multiple Listing Service platform and use a real estate agent to represent you. However this might not be the best option for everyone, especially if they’re trying to save money and time during the process. Another option is to sell to a cash buyer like Homeinc who will purchase your home as-is, invest in repairs and make the process much easier and stress free.
Home buyers usually look for modern looking kitchen and bathrooms. Houses in poor condition sit on the MLS for months. Unless you’re a construction professional, DYIing house repairs is more challenging than you expect. Home renovation projects are expensive, complicated and can take a long time. Inexperienced remodelers often spend more time and money on the renovation than the value added to the final selling price.
In case you decide to get your house professionally fixed, it’s important you consider the following:
Common issues that surface during repairs:
- Electrical wiring and plumbing problems are typical in older homes. Outdated electrical wiring is a safety hazard and will need to be updated to code. Expect to pay at least $1,300 to $3,000 to upgrade to 200amp service, between $200 and $750 to change ungrounded 2-prong outlets to 3-prong outlets, and $4,000 or more to rewire the house to get rid of old knob-and-tube wiring that can start a fire.
- If your house is several decades old, there’s a good chance it has lead in the paint and asbestos in the flooring, ductwork, popcorn ceilings, roofing, and HVAC system. Left undisturbed they aren’t harmful, but if the project calls for scraping or cutting these materials, the powder or dust is very hazardous. You will need a professional to detect and abate the asbestos.
- Older homes meet outdated building standards and codes, and often use completely different materials. Bathtubs were smaller, doors narrower, and rooms less spacious. If you want to maintain your home’s old character, it can be tricky finding materials to match the rest of your house. Architectural salvage stores or other reuse centers help, but prepare to pay more if you want matching, original materials.
- Many features and floor plans that today’s homebuyers want differ significantly from those of older homes. A master bedroom with a walk-in closet and an attached bath? An open floor plan layout between the kitchen, dining, and living room? If you want to modernize your home layout, you’ll need to consult an architect or an engineer. Tearing down load-bearing walls is both expensive and dangerous.
In addition to that, consider getting a permit to do renovations can be a long and complicated process that is not necesarilly guaranteed.
Skip the repairs
If you’re overwhelmed by the thought of taking on the work to fix up your house before selling, another option is to sell your house as-is to Homeinc, just call (888) 850-2636 and our agents will be happy to assist you.