Here is an Actual Case Study…
Let’s take an actual house we recently bought and share with you how it happened.
Let’s say this is your house in its current condition:
Not bad right? OK it could use a bit of sweet tender loving but not too shabby. It is just outdated…
Now remember, your neighbor with the exact same house as yours? He got a new roof, updated the kitchen and bathrooms, put granite in, removed carpets and put in hardwood flooring? Well, this is what his house looks like after he did the changes:
Well, no wonder he sold it for $160K, it is gorgeous! WOW!
In order for us to also be able to sell your house (well, our house after we buy it from you) for $160K, we need to bring your house to the same condition as the house of your neighbor, or better, so that we can also sell it for $160K!
Because we will not be able to sell the house in this current state for $160K when all the other houses that are currently for sale in your area look as gorgeous as your neighbor’s. Would you as a buyer be interested in buying a house in lesser condition for $160K when a much nicer house sells for the same price? No, of course not!
So an obvious next question you’d ask, would be:
OK, if the house after it is completely fixed and updated would sell for $160K, for how much would it sell as is?