When it comes to selling our homes, naturally we all want to make as much money as we can. Ideally, we want to make more money than we paid for our homes, to begin with. In many cases, this is possible, in others, it is not. Not to worry, though, for we will go through all of this in this comprehensive article. Our subject today, as you may have guessed from the title, will be whether or not you should fix up your home or sell it as it is.
There are many things to take into consideration when it comes to selling your home, especially if it is damaged. We have divided this page into two sections, which will be the benefits of selling your home damaged and selling your home after fixing it up. The reason that we have done this is so that you can properly assess and take into consideration all of the things that will crop up or be of importance when you are selling your home.
We hope that you will enjoy this page and that you will benefit from the article that we have put together.
Should you fix your house up or sell it as is? Let’s find out.
Fixing it up: The advantages and disadvantages
You will undoubtedly get higher profits if you fix your home up before you sell it. This cannot be argued with. Selling your home when it is in a better condition will yield profits higher than those that you would get if you were not to fix your home up. With that said, it does depend on the damages that have been sustained to your home. If let’s say, a wall has fallen, or there is no door, then yes, your home will sell for considerably less than it would if it, well, had a door!
It may be much easier for you to sell your home if you do so when it is fixed. People will be much more skeptical about buying a home if the home is damaged, and instead, will look for another property (or they may). You will find that your home sells considerably quicker if the damages are repaired, instead of being left for the prospective buyers of your home to pick up the pieces and repair the home themselves.
Wait, higher profits you said?
Moving onto the disadvantages, this is one to take into consideration. The profits that you may yield from fixing your home up could be lost to making those repairs, which means the money you could have got originally would have been all you were and are going to receive, anyway. If you want to save time then, you may just want to consider skipping over fixing it up. With that said, as has already been mentioned, you need to take into consideration the damages themselves and think about them.
If you are trying to sell your home quickly, fixing it up is not going to bring you that, and instead, will take a lot more time. If you are in the midst of the summer months, which is the best time to sell your home on the East Coast – you may wind up missing the prime real estate months by renovating your home. Were you on the West Coast, in Southern California in particular, however, this would not be a problem. You can start selling your house fast in California at any time of the year. Renovations will be a detriment to that speed.
Selling it as it is: The advantages and disadvantages
Starting with the advantages, the first is speed. While it may not be an easy sale, you will certainly be able to sell your home considerably quicker if you were to sell it as it is, and you would not need to waste time fixing up a home that you have no intentions of living in. Speed is your friend when it comes to selling your home, especially during this pandemic. You can sell your home much quicker if you just sell it as it is and discount the price.
With the pandemic taken into consideration, selling it as it is maybe best. You will not have to interact with any workmen and will be able to do everything without seeing anybody. With the virus going around, it’s best to avoid interacting with people at this time. Now maybe the best time to sell it as it is, for it enables you to avoid potentially contracting the virus, which we are sure is something that you want to avoid. Social distancing is a great advantage of selling your home as it is.
If you sell your property without repairing it, it gives you time to do other things. It means that you will be able to sell your home and look for a new one, as well as look for a new job in the area you are moving to. We are sure you can use your time much more productively if you were to sell your home as it is and save yourself the time you would spend it renovating your home. Doing other things may be much more beneficial during the current global crisis.
As has already been mentioned abundantly in this article, you must remember the loss you may make when selling your home damaged. With that said, you can, as already mentioned, break even. Though, you may be able to repair your home far cheaper than the price the estate agent may discount. If you notice your home sold for considerably less than it is worth, then it may be worth just fixing the damages yourself. A discounted price is okay if it is not too unreasonable and will cover the damages, but if it exceeds that, it’s best avoided.
In this article, we hope to have explained the advantages and disadvantages of selling your home as it is, or of selling your home after repairing it. We hope that you have enjoyed this article and that you will come back and visit us soon. Thanks for visiting, guys!