Are you unsure as to whether you should make repairs when selling a house in As-Is condition? Making repairs can be costly and timely for someone who is not familiar with renovating a house. On the other hand it can be very simple for someone who knows how to fix up a house for a discounted price. While there is no definite answer as to whether you should make repairs when selling your house in As-IS condition; here are a 3 important tips to help you make your decision:
- Do you live near the house that you’d like to sell? The answer to this question is very important. If you are not local to the property you have to have a contractor that you can trust to actually do the work for the price agreed upon. Having a family member or friend stand in your place is best if you cannot be present. Being present to monitor the work is very important to make sure work is being done in a timely manner. I wouldn’t recommend making repairs to a house if you are not local.
- Do you have the funds and time to make repairs? If you do not have the funds to make repairs the “right way” then you should not do any work at all. Many sellers take short cuts when making repairs that actually decrease the value of the house. When work is not done the right way it often cost twice as much to fix. A good contractor hates to go behind and clean up after a “handy man” or a “jack of all trades”. If you do not have the funds to get repairs done the absolute right way then don’t do anything at all.
- Will the repairs that you make actually increase the value of the house? Believe it or not fixing a house up doesn’t always add value to a house. It is important to understand the current trends of the real estate market in your area. In most areas in Hampton Roads two bedroom houses are almost obsolete. In today’s market most families need at least 3 bedrooms which makes it hard to sell a 2 bedroom even if its completely renovated. There are also many areas where newly built houses are the standard for the market. When this happens the value of older houses goes down and even completely renovated houses are hard to sell. It is imperative that you know the trends of the local real estate market in your neighborhood.
Hopefully this information was useful. Its very important that you weigh these three major factors when deciding to make repairs to your home before selling. If repairs are not done the right way it could end up being a complete waste time and money. Selling My House in As Is Condition Virginia Beach Chesapeake Hampton Roads.
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Selling My House in As Is Condition Virginia Beach Chesapeake Hampton Roads