If you are planning to put your house in the market, it is expected that you will face competition. There are already hundreds of ‘for sale’ houses in your area that you might think to fix your house before putting up the ‘for sale’ sign to set it above the rest. Fixing up means either repair or renovation and there’s a big difference between the two. Repair can be refer to fixing up a broken water system while renovation can be refer to applying a new paint color to any part of the house.
While fixing up can boost your house’s sale ability, it requires time and money. Before you make any decisions, think of your target buyers and how much fixing up will do.
Do your buyers need a fixed up home? In your area, check the houses that were sold for the past six months. Are they being fixed or renovated before they got sold?
Some buyers prefer a house that requires a little repair. Usually, they are the ones who don’t qualify to buy a more expensive house or they simply want to ‘personalize’ the house. Some buyers are house flippers; they are the ones who want to make a profit by fixing the house themselves.
How far would you go?
While minor repairs are not a problem, over-improving can be an issue. Buyers will normally look for the least expensive house in the most expensive and desirable subdivision they can manage. If you overdo your renovation, this will put your house at the top of the market from the pricing perspective. It’s not bad but it’s also not the best place to be from a selling standpoint.
If the cost of improvement won’t return the investment, it may be unwise to go through with an upgrade. You can sell your house as is and still make some money. Sell your house for cash to private property investors.
Lucas Properties buys houses in any condition. You can walk away with cash in as short as seven days. Contact Lucas Properties now.