If you have a house that needs a lot of repairs, you may wonder if it’s worth it to have it fixed up or even totally redone before a sale. The answer is not as simple as some may make it seem. Instead, it depends on your budget and your priorities.
It is very possible to fix up a run-down house and sell it for a good profit. That’s how the fix-and-flip business works. You can use the same principle to fix up an old house that you possess as an individual, though you likely won’t have access to the same types of financing as the professionals. The financing issue will need to be considered prior to choosing this option.
Typically, full renovation is a possibility that will work best for you if you have come into possession of a house due to inheritance or other such life events. In those cases, you may already have the money or financing options needed for timely completion of repairs and updates.
The second option is to sell the house as-is or with only minor repairs. If a lot of work is needed, you’ll get a far lower price this way, but you’ll also gain some powerful benefits. You won’t have to come up with much money, nor will you have to sign up for financing that you might not be able to afford. You also won’t have to wait for a lot of work to be done before you make the sale.
This option is best if you’re selling an old house that you’ve been living in, or you inherited one that you aren’t financially ready for. Then, selling it as-is, to someone who is willing and ready to do what it takes for renovation, will save you a lot of stress and put needed cash in your pocket much faster.
Whether you choose to renovate an old house or sell it as soon as you can, you’ll be happy to get the money and be able to move on to the next part of your life. Contact us today for an in-depth consultation on a plan for selling the property.