When you make the decision to sell your home, you have several decisions to make. If your home needs repairs, one of those decisions could be whether to sell the home as-is or try to make the necessary repairs. For some sellers, placing the home on the market as a fixer-upper is the right decision. If you are unsure whether you should go ahead and list your home or make the repairs, here is what you need to know:
Can You Sell the Home As-Is?
Before you can list your home as a fixer-upper, there are several factors to consider. For instance, the market value of the home now versus its possible value after the repairs is important. If making repairs will not have much impact on the value of your home, selling it as-is is likely the best move.
The type of repairs that need to be done matters, too. The most valuable rooms in your home are the kitchen and bathrooms. If they are not in need of repairs, you probably should not fear listing your home. Most people are willing to tackle repairs in other areas, such as the bedrooms and basement.
You also need to consider the other homes in your area that are up for sale. Pay attention to what features they are offering to buyers. You even need to consider homes that have recently sold in the last few months. If those homes had features that your home is lacking and that is being sought after by buyers, you might have to make some repairs.
The best way to determine if you should list your home as a fixer-upper is to talk with your real estate agent. He or she knows the current market and can help decide if you would be wasting your money by making any repairs.
How Can You Sell the Home?
If you do decide to sell your home as-is, you must be smart with your selling tactics. For instance, you need to draw potential buyers' attention to the most attractive features in your home. Emphasizing what is best about the home helps to distract away from the repairs that are needed.
You also must be careful with the listing price. Remember, buyers need to feel as if they are getting a bargain. You want to list a reasonable price that would still leave financial room for buyers to imagine themselves tackling the necessary repairs.
Your agent can help with finding other ways to market and sell your fixer-upper.
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