Spending money for repairs and renovations on an old home can be risky. Even in an apparently well-maintained home, you can never guess the extent of repairs. Should you fix the problems, or sell the house as is? The answer depends on a lot of factors. Some of them include:
The extent of repairs:
Most home buyers prefer buying a fixer-upper, provided, the house only needs cosmetic changes. They’ll look for a bargain by discounting the cost of repairs and other inconveniences. If your house needs fixing up, it makes sense to spend money on these repairs and sell the place for a better price. Buyers are unlikely to buy homes that need extensive repairs like foundation repairs or roof related issues. If this is your case, selling the house as is makes sense.
The market:
Look at the recent sale price of comparable homes in your neighborhood. If these homes are selling for a good price, you are likely to recoup the money spent on repairing the place. But if the market isn’t favorable, you are better off selling the house as is. Location is also important. For example, if your house is near good schools, shopping markets, employment opportunities, etc. you are likely to sell the place for a good price; hence, spending on repairs makes sense. But if none of these circumstances exist, sell the house as is.
How quickly are you looking to sell?
If time is on your side, you could spend on repairs and sell the place in a conventional market. But if time and money are an issue, it makes sense to sell the place to us. We buy houses in Milwaukee for cash and promise to close in fourteen days or less. Since we buy houses as is – you don’t have to spend on repairs or worry about after-sale cleaning. We’ll take care of it!
Looking to sell house fast in Milwaukee? Call us!