Did you know that home prices have gone up an incredible 26.5% since March of 2020? If you were a homeowner before the pandemic hit, then you could be sitting on a gold mine.
The only question is — should you sell a house as is or do some renovations first? This isn’t an easy question to answer, and your circumstances will dictate what you should do. What we can do, though, is give you some general pros and cons of each option.
Read on to learn more about whether you should renovate before selling or go with an as-is sale.
The Benefits of an As Is Home Sale
As is sales are popular for a lot of reasons. When you make an as is sale, the process is usually fast and seamless. Buyers put in an offer (sometimes sight unseen) and you accept it.
Selling a house as is doesn’t mean you’re free to misrepresent what you’re selling, though. You’ll still need to disclose any repairs and issues.
As is sales are usually less stressful and take less work than traditional sales.
Are you considering selling your home as it stands right now? If so, then get more information here.
The Advantages and Downsides of Home Upgrades
Of course, selling your home as is isn’t without its downsides. The biggest flaw in as-is sales is that they often result in a loss for the homeowner. You may get quick offers and sell your home fast, but you’ll also get lower offers.
The biggest upside of performing repairs before you sell your home is to maximize offers. You’ll get more bang for your buck.
Not only that, but you’re also protecting yourself. If a seller accuses you of withholding a problem with the house, then you might be liable for the repairs. With that in mind, you must disclose every issue or fix it before you sell it.
Making the Right Choice for Your Fixer Upper Home
So, which option is right for you: selling as is or repairing your home first? The answer depends on your specific needs and goals.
If you need to make a fast sale, then you’ll want to go with an as is sale. If you’re hoping to make a lot of money, then repairing your home first is the way to go.
Consider your circumstances, too. If you don’t have the money to sink into repairs, then go with an as is sale.
Should You Sell a House as Is or Renovate First?
When you sell a house as is, you make quick money. You don’t have to go through the long drawn-out process of finding the best buyer and negotiating. When you do home upgrades, though, you can get so much more bang for your buck!
So, what will you decide to do with your home? Will you perform some renovations before selling? Whatever you decide, we hope that the process goes as well as it can.
Are you looking for more important advice to help you get through 2022? If so, then you’re in a great place to find some answers. Keep browsing through our lifestyle section now to see more of our favorite articles.