07/10/2023
Should You Make Renovations on Your Home When Selling, or Sell "As Is"?
When someone decides to sell their home that desperately needs updating, they basically have two choices: Sell it "As Is" in its current condition without improvements—or make upgrades in the hope of selling it at a higher price.
While renovating your property will inevitably sell your home faster and for more money, listing your property "As Is" has its perks as well, including not having to spend a lot of money for major improvements you won’t get to enjoy, and not dealing with the headaches of those improvements.
Deciding what to do can be overwhelming, but we’re here to break it down for you. If you want to unload your property pronto and for maximum cash, here are some things to keep in mind.
"Out of house" often means "out of home". If you’ve already purchased another home and have one foot dangling out the door, things can get challenging. Between work and family obligations, plus dreaming about decorating your soon-to-be new home, chances are you won’t have the time or energy to reimagine your old one.
If you’re set on upgrading your old home to get top dollar, you’ll want to find the right professional to guide you through the process.
Assess the potential workload, time, and money it’ll take to upgrade. Get an expert opinion, or better yet, several opinions regarding how much updating and repair work would be required to boost your home’s bottom line.
You should ask yourself, "does the place just need a good scrub, or an entirely new kitchen and three new bathrooms?". And more importantly, do you have the cash, the time, and the patience to see the project through?
And don’t forget to factor in the cost of owning the home during major renovations. Depending on how extensive your revamp is, you might need to find temporary housing while your property is being gutted, so add that fee to your bottom line.
I hope you find this article helpful in deciding whether to spring for renovations when selling your home or, sell it "As Is".