If you want to sell your house, you primarily have two options: Sell your house as-is or fix it up. Now, depending on your financial situation and other factors, you may want to weigh in some pros and cons before making a final decision. As-is means that you are selling your house in its current state. Typically, this type of sale is for properties you have that you no longer wish to make any improvements on before selling. On the other hand, the fix it up sale would mean making the necessary repairs and renovations to improve its overall appearance and functionality. In return, it increases your house’s value which attracts potential buyers. Still indecisive on how should you sell your house? Read more and find out what’s best for you!
Advantages of As-Is
If your main goal is to just sell your property without hoping for a high price, then as-is would be the better option for you. It has a quicker sale process because you don’t need to make any repairs or renovations prior to selling it. You no longer need to invest time and money if you’re selling your house “as-is”. Additionally, this should give your buyers an idea of what they are getting into.
Disadvantages of As-Is
Even if it’s less time-consuming, it also comes with many disadvantages. Expect that your house will sell for less compared to properties that have been repaired and renovated. Buyers may be hesitant in purchasing a property that needs a lot of work. In return, there may only be a small pool of buyers and your property may be up on the market for quite some time. Additionally, as a homeowner, it may be hard for you to negotiate with your buyers to get a higher offer when selling your house as-is.
Advantages of Fix It Up
If you’re looking forward to a high profit from selling your house, you should consider opting to fix it up. Depending on your budget, fixing up a property before selling has many benefits. Aside from increasing your house’s value, it also increases the curb and market appeal which makes it attractive to buyers. Make the necessary repairs and renovations to sell your house in a pristine condition. In return, you get better negotiations.
Disadvantages of Fix It Up
The main disadvantage of fixing up your house before selling is the risk. There’s a risk of uncertainty about your return on investment. It doesn’t guarantee that the time and money you spent on reparations and renovations will result in a high, fast sale. Fix it Up is expensive which can be challenging if you need to sell it fast. Furthermore, you may experience delays in selling as some repairs would take time.
Now that you are aware of the advantages and disadvantages of both As-is and Fix it Up, you can start considering other factors too. Ensure that you have the means for any repairs and renovations or even if you sell it as-is. It’s also important you take into consideration the current real estate market and see if you are in the right time and place in selling your house. Need more advice on selling your house? Contact us at Simple House Buyers now!