This is a very common question ask by local homeowners in Louisville who come to Sisters Who Buy Houses for our expertise. And it’s a great question.
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It can be difficult when selling your house to figure out if you want to fix it up or if you want to sell it as is.
Here are a few things to keep in mind which may make this decision a bit easier for you.
If you’re a seller and you have a house that’s worth $150,000 with a major foundation crack that you just found out is going to cost you $7,000 to repair it’s pretty reasonable for you to think that if you fix that foundational problem you should be able to sell your house for $150,000 but you also have to think about it from the buyer’s perspective.
Just because you have a bid that says it’s going to cost $7,000 to fix the foundation issue doesn’t mean that that’s actually how much it’s going to cost. For buyers, what they think about is they could run into all kinds of other issues when they’re fixing up the house which will lead them to go over their budget.
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This is why buyers make lower offers. They’re aware that when they’re working on a house they could run into all kinds of issues and go over budget. You’re basically transferring all the risk associated with working on the house to the buyer. Just something to keep in mind, if you want to sell your house quickly in Louisville you have to be able to price it accordingly.
So should or shouldn’t you fix up your house? If you’re able to, if you have the money to do the repairs it’s almost always better to go ahead and just do them, it almost always makes more sense. Make sure that whoever you hire to do the repairs is licensed or bonded or insured and has some kind of warranties to offer.
If you don’t have the money for repairs you just need to keep in mind … Remember that you’re transferring the risk to the buyer so you need to be realistic about your asking price especially if you want to sell quickly.
The next factor to consider is your local real estate market or your neighborhood. If prices are rising and selling quickly there’s less pressure on you to make your house stand out and do all the repairs. If prices are down and houses are just sitting there for a period of time you definitely should make more repairs to your property so that it does stand out and sells quickly.
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This has been an overview of should you repair your house or should you sell it as is. As always, in Louisville, Kentucky, if you’re looking for an offer on a house as is that’s easy, please reach out to us, sisterswhobuyhouses.com or call us at 502-273-0000. We can help you figure out what works best for your situation Or if you rather be done with a property, we pay cash and close quickly.