If you are selling your home in the Austin area, like most sellers, you’re probably hoping to sell your home quickly and for top dollar. Selling your home is an exciting time. You are literally closing one door and opening another. While preparing your home for sale, you may be wondering if you should repair parts of your home, sell your house as-is, or if selling your home to an investor is the best option.
Depending on the state of your home, your finances, and what you are hoping to take away financially from the sale of your home, the answer to these questions can vary.
This guide will go over everything you need to know about selling your home to an investor, fixing up your home to sell, and how to sell a house that needs major repairs.
Key Considerations When Selling a House That Needs Repairs
If you have an older home that needs a lot of repairs, selling it can seem like a daunting challenge. Not only will buyers be faced with making the repairs, but a lot of the traditional marketing methods may not work.
Luckily, there are still plenty of buyers and investors looking for distressed homes or houses that need a lot of work.
Selling a home that needs a little tender love and care doesn’t have to be hard. If you’re debating whether or not to fix some things yourself, sell your house as-is, or sell to an investor, there are a few factors to consider that can help sway your decision.
From your market conditions to your budget and your timeline, think about what you need to get from the house and who the potential buyer will be.
What is Your Budget?
If you want to sell your house for top dollar, flipping it may be a great option. To do this, however, you need time and money.
If you have the budget to flip your home, there are a few home flipping basics you should be aware of.
First, kitchens and baths always sell houses. Renovating these crucial rooms, however, won’t always be as easy as you see on television, however. In a home that needs a lot of repairs, you’ll likely need to dump a lot of money on the structure of your home.
Repairs to the exterior, ductwork, plumbing, and electrical, are always crucial to making sure your home is safe.
From there, you can go about changing drywall, removing walls, and renovating existing bathrooms and the kitchen into a beautiful space that will wow buyers.
If this sounds like more than you have in your budget, don’t stress. There are other methods of selling your home and hopefully making a little profit as well.
Do People in Your Market Want New Homes?
Before you get out the hammer and paint, access your local market. Think about if people in your area can afford a new beautifully re-vamped home. Sometimes, certain neighborhoods or areas don’t support new home prices.
If you spend a ton of money to remodel your home, you might not always see a great return on your investment. This is where selling your home in its existing condition may actually appeal to more buyers.
If you don’t think you will get the money back that you put into your home, fixing it might cost you more than you will make.
Do a little homework here and look at homes that are currently on the market. Check out how long these homes have been for sale and what sold homes sold for.
How long a property sits on the market is usually a good indication of market conditions.
The Fastest Way to Sell Home As-Is
If your market doesn’t support renovating your home or it isn’t within your budget, the fastest and most economical way to sell it might be to sell it as-is.
Selling your home as-is might be your best bet for several reasons. For one, you don’t have to put any time or money into fixing it.
Second, if you need to sell this home quickly, you won’t have to wait for inspections, and people asking for repairs. When you sell a house as-is the buyer knows the condition and is accepting of this.
If you inherited a home, are divorcing, or need to relocate quickly, selling as-is might save you the most time and money.
Selling Your Home to an Investor Instead of Putting It on the Market
If you’re overwhelmed by selling your house as-is using a traditional realtor, selling your home to an investor is another great option.
When you sell your home to an investor, you don’t need to put it on the market, deal with open houses, house tours, photography, and all the rest of the hassle that listing your home involves.
You might be worried that selling to an investor is too good to be true. If you work with a trusted professional, you will be in great hands. You will have plenty of time to talk about your home, your needs, and how the process works.
Remember that if you are in a hurry or unable financially to wait for your home to sell on the market or renovate it, selling to a trusted investor, is a seamless process, that can work well in a lot of situations.
To Market or Not to Market: What Is the Best Move for You?
Once you evaluate whether or not marketing your home, selling it as-is, or if selling your home to an investor is the best option for you, it is time to get the process started.
To evaluate your next move, take a look at the condition of your home, your current market, your budget for selling or renovations, and your timeline.
If selling to an investor seems like the best fit for your Austin area home, visit the how it works section here to learn more and fill out the information form.