How To Sell a Home That Needs Repairs
Anyone placing their house on the market will want to ensure their home is in the best condition possible. However, those who need to sell a house quickly may have unresolved home repairs that they either don’t have the time or money to address. They may worry that such issues will scare off potential buyers and jeopardize their opportunity to sell. Fortunately, for homeowners concerned about trying to sell a home that needs repairs, there are a few options.
Sell Your Home That Needs Repairs as-Is
Selling a house as-is allows you to be upfront and honest with potential buyers about the condition of your house. When you sell a house as-is, you don’t spend any money on any of the needed repairs, but you will likely have to accept a lower asking price. On the upside, houses being sold as-is are often very attractive to investors and flippers.
Focus on Completing Minor Repairs
If you don’t have a lot of time but you are willing to do some repairs, consider focusing on a few minor, cosmetic fixes. These repairs are typically low-cost and don’t take a lot of time. Completing them will ultimately improve the general curb appeal of your house and can help you maintain a higher asking price.
Going for the Big-Ticket Repairs and Upgrades
Most potential buyers are okay with having to do a few small fixes themselves. However, they are likely more concerned about and less willing to inherit expensive, big-ticket repairs and upgrades. If you have the time to take care of some larger repairs and are willing to spend the money, consider investing in the following recommended areas:
- Roof replacement
- Foundational damage repair
- Mold remediation
- HVAC upgrade
- New hot water heater
If you are making these repairs in order to sell your home, consider contacting a local bank for a second mortgage or home equity line of credit (HELOC) to help you pay for the repairs. If you are not thinking about selling your home and are having difficulty financing any of these desired repairs or home upgrades, consider contacting the professionals at Butler Mortgage for help.
Your Trusted Home Lending Experts
The professionals at Butler Mortgage can help match you with affordable loans at desirable rates that can finance your home improvements. For the past 25 years, Butler Mortgage has been serving the Central Florida community by working with both first-time and experienced home buyers in helping them own homes in the area. If you are looking for help finding the right loan solution for you, fill out our online form for a free consultation or call us today at 407-931-3800.