Before selling your home, you might be thinking about doing some repairs. Completing repairs can increase the value of your home and make it more attractive to the average buyer. However, repairs can often be very expensive, so knowing which ones are absolutely necessary and which can be avoided will help you save money.
Dependent on Buyer
There are no real rules for what repairs need to be done before your home is sold. In fact, as long as someone is willing to buy your home, the amount of repairs that should be done will be according to their preferences. Before you start any major repair projects, think first about who your ideal buyer is and what they would want in a future home.
Repairs for Traditional Buyers
For most traditional buyers, they want to find a home that they could move into immediately. Therefore, they want a home that doesn’t need a lot of repairs. If you are selling to traditional buyers, you should definitely take care of major repairs like those for water, electrical, or fire damage. After taking care of those major repairs, you can choose whether or not you will do more minor repairs. However, if you choose not to complete more minor yet noticeable repairs, know that you may need to lower your asking price.
Selling As-Is to Cash Homebuying Companies
Cash home buying companies are not like traditional buyers. They are not looking for a home for themselves; instead, they are looking to make a profit off of reselling or renting out property. Furthermore, cash home buying companies have the funds to do major and minor repairs themselves. Therefore, cash home buying companies are willing to buy your home as-is and complete any renovations or remodeling themselves.
The offers you will get from cash home buying companies will probably be slightly lower than regular market prices. This is because they will be using their own money in the future to complete repairs. However, those slightly lower offers can be well worth it to sell your home as-is. When you sell your home as-is, you avoid dealing with and paying for all repairs. Additionally, you still get a great value for your home as-is.
If the idea of doing extensive and expensive repairs before selling your home stresses you out, reach out to Simple Cash Offers here today to learn more about selling your home as-is.