Should You Fix Up Your Home or Sell it As Is? Find Out Here!
Worried about selling your house? Not sure if you should fix it up or sell it as is? Here’s what our residential realtor in Nassau County has to say.
Selling your home? Ideally, we want to make the best of the opportunity we have. If you’re selling your home, an asset, you are likely going to seek some return on your investment as well. But what’s the best way to go about it? Should you invest more money into fixing up your house? Or should you just let it be and sell it for what you can get?
What Does It Mean To Sell As Is?
Selling your house as is means not investing any money to repair or fix parts of the house that need attention. Selling your home in a fixer-upper state can save you the cost of repairs but lower the value for which your house gets sold—this reduces your overall return on investment.
Contrary to popular belief, you can sell a damaged house; repairs are optional. Here are some factors to consider before you make a decision:
Factors to Consider Before Deciding:
1. What’s The Condition Of Real Estate Like?
Whatever investment you make, it’s always wise to do a bit of research into it. So before you go into the market with your asset, look into the overall market trends. If the market is predisposed to favor the seller, then you’re lucky, and your property will find a buyer soon, without even needing a fixing up. But if the market is on the buyer’s side, then they simply have better options to choose from.
2. What’s The Condition Of Competing Homes?
Another thing to consider is competition. For that, you need to run a comparative market analysis (CMA) to help you have a fair chance of getting the deal you want. The analysis enables you to get an insight into the other options available for the buyer. That may give you help in deciding if you should or should not invest in fixing up your place before selling it.
What Areas of a Property Are Worth Fixing?
Let’s say you do decide to go for a remodeling of your house. But what structures will you work on? Some repairs can increase the value of your home more than others. A little bit of research can reveal how to invest in repairs to get you the greatest return and make this more profitable for you.
Do Buyers Want Fixer Upper Homes?
Good that you asked. Generally, buyers accept homes that need repairs to bring the cost down to suit their budgets. However, generally, fixer-upper homes are sought out by buyers who can afford to pay only a menial sum, or those who are planning a major remodel.
Selling your house can seem easy, but a lot of thought must go into making the sale worthwhile. Ora Greenstein, a listing agent in Nassau County, can help you sell home fast in nassau county. Reach out to her to avail the services of one of the top real estate agents in Nassau County.