Should I sell my home ‘as is’ or fix it up?
Thinking of selling your home? You may be wondering if it’s worth making some improvements before you put it on the market. Your home could be a few years or several decades old, but regardless of its age, the sales process will be significantly affected by its physical condition.
Here are a few crucial questions that can help you decide if you must sell your home ‘as is’ or you should fix it up a little before you start the process.
Have you had a home inspection?
Before selling your home, an excellent first step is to book a home buyers survey. Although this is a small upfront investment, it allows you to see the entire list of minor and significant issues with your home.
In the case of any minor problems, you can easily make some small repairs before selling. For any major or costly issues, you can either make the repairs before you sell, or get some quotes from local tradesmen so that you have the real figures to hand when negotiating the selling price of your home.
A home buyers survey gives you a competitive edge over other homes for sale in your area. Potential buyers are essentially informed that you have taken adequate steps to ensure that they don’t deal with any issues later on. Plus, they are unlikely to find anything when they conduct their own inspection, increasing the chances of the sale going through to completion.
Can you afford renovation and repair costs?
One of the major factors in deciding whether to fix up your home before selling is whether you can afford the costs of the repairs in the first place. If you know that there are significant problems with your property such as a faulty central heating system, or the need for a full electrical rewire, you could be facing upfront bills into the thousands.
Will it add value?
Spending thousands on a new boiler is all well and good, but if you aren’t going to make your money back on large repairs, then you may want to reconsider if it’s worth doing.
A great example of this is if your kitchen or bathroom is looking dated. You may think that installing a new one will instantly add value to your home. You may be right, but if it’s cheap or badly fitted it could have the opposite effect. Plus, your buyer may wish to put their own stamp on the property when they move in anyway, so you may have wasted valuable time and money.
How fast do you need to sell?
One more important question to answer is the urgency of making a sale. If you are in a hurry and are moving somewhere, you may have no choice but to sell as-is. Otherwise, you can spend some time on renovations or repairs before placing it on the market.
What does your Agent recommend?
Lastly, what does your estate agent recommend? If minor repairs are required, or the market is hot, you may be advised to sell as-is. Alternatively, in the case of a slow market, you may have to spend some time fixing things up.
A good estate agent will offer sound advice suited to you. So if you would like advice on whether to sell or renovate, get in touch today and I would be happy to help you with your decision.
Hayley Georgiou is an independent real estate agent based in Horsham, West Sussex. She has over 15 years’ experience in sales & marketing, and offers property sales, lettings, and a home buying service. Her agency is built on the values of honesty, transparency and excellent communication every step of the way.