Trying to figure out how to get the most out of selling a house as-is can be a daunting task, especially if you’re on a tight budget or don’t have the time to make extensive repairs. However, selling your home quickly and at a fair price without breaking the bank is still possible.
This article will discuss some helpful tips for selling a house that needs repairs. These tips cover everything from minor repairs and improvements to staging your home for sale.
Following these suggestions can increase the chances of attracting potential buyers and closing a successful sale.
How to Sell a House That Needs Work
To begin, how does selling a house that’s under renovation work? A fixer-upper tends to cost less, but just because your home needs work doesn’t make it a “discount property.” In fact, there are important things not to fix when selling a house!
Homeowners look for potential buyers with interest in a home that needs work. Many potential buyers prefer homes that need work due to the lower cost. Others enjoy fixing up the place and customizing the property to their preferences.
The right buyer will enjoy a house for its pros rather than worrying about the cons. If your home is a fixer-upper, you may find that flippers would love your home.
However, be honest about the work your home needs. Don’t try to hide the necessary repairs or glaring issues.
Cosmetic issues are hard to hide, but there are others that homeowners may fail to disclose. Problems with the pipes, a dated HVAC system, and other hidden issues occur often.
Have your home inspected before you attempt to find potential buyers. A real estate agent can help you turn a recent inspection into a fantastic selling point. Simply having your home inspected and honestly displayed can increase the sale price.
Making Cosmetic Upgrades and Renovations
Beyond honesty, the first tip is to make cosmetic upgrades to your home. A fresh coat of paint can help you in your home-selling journey. The first impression is crucial; for many homeowners, it’s the most important.
For example, if your client plans to rent the home, they may care more about functionality. They may want the cosmetic side to be perfect to start marketing the home themselves. You can find many homes on sites like Zillow that employ this technique.
Consider painting your home a neutral color. Doing so can make the home appeal to a larger buyer pool. A polarizing color such as hot pink or dreary black may give your real estate agent a tougher time finding a buyer.
It’s best to make your home appeal to the average buyer. Don’t hesitate to drop a relatively small amount to pain or refinish some areas of the house to improve its appeal.
Doing so can increase the home value and your chance of finding a cash buyer. You can sell a house fast in Dallas if the home has a strong cosmetic appeal.
Giving Your House a New Lease of Life
Another crucial step is to give your house renovations that improve its life. Caulking, replacing dried or dead wood, replacing the door, and other minor repairs are great options.
You can increase the market value of your home with these minor home improvements. Best of all, these improvements will increase the lifespan of your home.
These renovations are crucial if you’re renting or intend to keep control over the home. If you’ve recently made repairs, your home will spend less time on the housing market.
Make sure that you’re advertising such things to your clients. It’s not useful to make such repairs and then hide them. Cash home buyers in Texas will enjoy knowing their home was recently repaired.
Flaunt how recently you made these renovations and make sure your buyers know you’ve taken care of the hassle. Immediate renovations or repairs are an enormous headache for many buyers. Home sellers that take on those upgrades are much more likely to make a sale.
Adding More Space to the Home
One option to consider is adding more space to the home. This option isn’t always possible but can drastically increase your house value.
You can add rooms to a house or expand on the existing property. Doing so can turn a lackluster 2/1 home into a customizable, roommate-perfect 2/2.
Another option isn’t just to add an entire room but to add to the space in a room. Extending a bathroom to be a complete restroom is one option. Depending on your budget, you can add a bath, shower, or even a hot tub.
Some closets can be expanded, or you may open up room between spaces. Consider knocking down a wall that needlessly separates your kitchen and living room.
Taking the initiative to make these renovations is a great way to make the home feel like it has more room. Though you aren’t adding square footage, making these improvements makes the home feel larger. For the right buyer, these floor plans are ideal.
Are you struggling to improve the house itself? You should look instead at the property that you have available. Many buyers focus as much on the land and property around the home as they do on the house itself.
Do you have room to open up the yard? You can add to the yard and earn a higher price when you sell your home.
For example, adding a shed to the backyard improves storage, aesthetic, and workable room. You can include the shed with the home and highlight the area during your showings. Factoring the shed into your list price will help the property pay for itself!
If you have an old house, you may also have an excess of fauna. Consider removing trees or replacing old fences. These landscaping repair costs are minor compared to the additional value to your home.
Minimal is Key
Not everyone is looking for your home to find a home that’s already complete. If you’re selling a house that needs work, why overcrowd it?
One great choice is to go for a minimalist aesthetic. Many real estate agents prefer to use furnished homes for showings. You can have a minimalist interior design for these showings.
A minimalist design helps potential buyers see the home for its potential. Showy or flashing interior design can cement the home’s reputation. This philosophy is similar to not painting your home a bright, dominant color.
You should consider having as little in the home as possible for your indoor design. Some furniture can make a room feel smaller, especially large items. While having enough furniture in the home to show its potential is fine, you shouldn’t design the home for buyers.
Keep as minimal of a design as you can in your home. Avoid accessories and showy pieces that your potential buyers may not like.
If the home is unoccupied, setting it up for showings is easier than an occupied home. You shouldn’t need to clean as often, and the house is always ready for a showing.
If the home has tenants or you live in the property, ensure everything is clean before buyers arrive. If the home is undergoing a remodel or is scheduled for a home inspection, it may be best not to show the house off.
Minimalism is much easier to accomplish outdoors. You should always keep curb appeal – the appearance of your home from the street – in mind. Curb appeal is a crucial part of making an effective home sale.
Your realtor can factor the home’s yard into the asking price. Make sure you’re capitalizing on all of the spaces on your property instead of only the home.
Improving the lighting is a core part of bettering a home before anyone can move in. The light fixtures of your home are great decorations and can accent an interior design.
Older homes often have wiring that needs updating or inspection. Ensure that these areas are highlighted during the inspection. What may start as minor home repairs could turn into major repairs if the wiring needs an update, especially for safety.
However, it’s important to know the audience you’re selling to. Are you targeting house flippers for a quick sale in a volatile real estate market? Or are you more interested in selling cozy fixer-uppers to your local market to build your reputation in real estate?
Knowing your demographic can help you see what’s important to sell. A modern home having interior lighting from the same style as the 50s or 60s isn’t always a good idea. Look into who’s going to purchase your home and adjust your style accordingly so that you can ensure a sale.
Selling a Work-In-Progress
In a seller’s market, selling a house that needs work isn’t as daunting as you fear! Many buyers will prefer a home at a slightly lower cost that they can fix up to their preferences. You should capitalize on the room you have and prioritize the features that can help your home fly off the market.
If you’re curious about selling your home, we buy houses in Arlington and other areas. Be sure to contact us to learn what your house may be worth!