When it comes time to sell a city house that needs repairs, one question you may ask yourself is, should I fix my house or sell as-is?
Both have their benefits, and it is entirely up to you, your budget and your goals as to whether you choose to sell your home as is or fix it up. If you choose to sell on the market, it is vital that you ensure your home is up to a reasonable standard, to avoid the buyer pulling out of your sale. In some cases, the repairs are too time-consuming or expensive, so you may opt to sell your house as is to a cash buyer.
Below we share some important points to consider before fixing your house and putting it on the market. They will help you make the right decision and help you avoid making costly mistakes or delay the process.
#1 What will your return on investment be?
When considering whether you should fix your house or sell as is, it is vital to consider the money you will spend. If your property is in a state of disrepair, it is likely that you will have to spend a large sum of money to get it ready to go on the market.
You should start by asking a trusted Realtor to assess your home. They will be able to draw on their experience in the industry and their knowledge of the local buyer demands and the market conditions in Connecticut, to be able to provide you with an idea of how much your property is worth and how much you may need to spend to increase its value inline with the demands of the market.
There may be some cases where investing your money will increase the value of the property, as long as it is done in the right places. The best way to get a good return on investment, would be to upgrade your bathroom and kitchen. These can provide you with a return on investment between 65-79%.
If you have the budget, there are plenty of other investment options that you can consider when fixing up your home ready to sell. The Cost-Vs-Value Report from Remodeling Magazine has detailed information that can help you find the best projects that are specific to the market conditions of your region or city.
You have to be extremely careful when making home improvements to sell your property. This is because the majority of repairs will fail to provide you with a return on investment that is equal to the money you spent. Unfortunately, this can lead you to losing money.
#2 Do you need a project manager?
There is a lot of work that is involved when you renovate your home in preparation for putting it on the market. If you have the relevant skills and experience in fixing houses, then you may opt to take on the work yourself. This will mean you have full control over the timescales and can keep the project costs to a minimum. However, if you don’t possess the skills, or the time, then it is recommended that you hire a professional contractor who will be able to manage the project for you. This will ensure that the work is completed safely, and to a high standard.
This is one of the most important things that you will need to consider when deciding whether to sell your house as is or fix it up, because it can start to become costly when you have to hire contractors. The role of a project manager is extensive, as they will coordinate the work activity, approve contracts, schedule permit inspections and ensure everything is on track. It is a good idea to obtain quotes from several contractors, so you can gain a better understanding of the costs that are involved and whether they are worth your time and money.
Make sure you are thorough with your initial consultations, and choose to hire a contractor that has a good reputation and the required skills for your renovation. You want to make sure that your project manager is organized and possesses good communication skills, so that the project runs smoothly and on time. It can cause lots of problems if you want to sell your house quickly, but you are held up by your project manager.
When thinking about selling your house as is or fixing it up, you should consider the time, effort and costs involved in hiring a project manager.
#3 What is your schedule?
When choosing whether you sell your house as is or fix it up, you should consider your timeline.
If you want to sell your house fast, then fixing up your house might not be an option for you. You will have to consider the time to source the contractors, plan the updates and wait for them to be completed before you can put your house on the market. Not to mention the family obligations you may have, your dedication to your job and the disruption to your daily activities that fixing up your home will entail. The last thing you want to do is start a repair project on your home and leave it unfinished. This can impact the sale of your property.
Sell your Connecticut home “as is” to CT Cash Homes
If you lack the experience, time or money it may be best to discount the cost of the repairs and sell your Connecticut home as-is to a cash home buyer like CT Cash Homes, LLC.
We are home buying experts with many years of experience buying homes in all conditions. Since we buy homes for cash you can forget about home appraisals, home inspections and mortgage approvals. We’ll make the entire sales process easy and guarantee you smooth hassle-free closing.
Sell your house to us in just one day and close in as fast as 7 days. This way you’ll eliminate the need to hire an agent, pay a hefty real estate commission and put up with the uncertainty of finding a buyer.
Selling a house in poor condition does not have to be difficult. Call CT Cash Homes at 860-249-0950 to get a top-dollar cash offer today. Count on us to understand your needs, provide solutions to your problems and deliver exceptional service.