Renovate Or Sell As Is

Dated: 11/04/2014

Views: 1153

The amount a seller can reasonably expect at the closing table has a lot to do with the condition of the property being sold.  As obvious as that statement is, many sellers are faced with the decision to spend money on renovation or sell “as is”.  Both scenarios require serious consideration as there are pros and cons to both. When selling a house “as is” you may get too little for your home. You are likely to attract buyers that are looking to fix and flip your home for a profit and will be aggressively trying to bid down your asking price. Similarly, you may miss out on buyers that just don’t want the hassle or added expense of renovating their new home.   Sellers do have the option to offer credits towards renovation but often this isn’t enough to entice home buyers. If you are planning on renovating your home before listing, it’s important to remember you are now spending money that you may or may not recoup.  A strict budget is a must and projects must focus on the greatest return on investment. Kitchen, bathrooms, paint and curb appeal are all worthwhile projects to help your home stand out.  It doesn’t have to be elaborate. Neutral tones and a nice design will appeal to the most potential buyers.  A well-manicured lawn can mean the difference between a drive by and an actually showing. In the end it is up to the seller and a good realtor that can help their client make informed decisions based on current market conditions.

Jeff McGahey

As a Colorado native, real estate broker since 2006, and real estate investor for over 15 years I have the expertise and knowledge to help guide you and your family through the most important transact....

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