It is time to move. Perhaps you have outgrown your home or it has become too difficult for you. You might have a job offer from another city, and you need to sell your home to start a new chapter. You have seen enough HGTV know that staging your home is essential before you decide to sell. Is that true? Are you looking to refinish hardwood floors and install new carpet? Paint every room and rent furniture worthy of a model house?
The short answer is that it doesn't always work. Sometimes, it is a smart decision to simply sell your as-is house.
1. If It Is An Inherited Property
Let's say you inherit a house. It is a good idea to sell the house "as-is" if you don't have the energy or time to invest in the property. Although you might not be able to get the same amount for the house if you had done some updates, it may still be worth the effort. You won't have the burden of fixing up your inheritance if it came to you along with several others.
2. Spend Your Time Elsewhere If You Feel It Is More Productive
Let's suppose you have a business that makes an average of $75 per hour. You are ready to sell your house, but several rooms need to be painted. The exterior of the home needs to be power washed and the bathroom cabinets need to be refinished. The extra money you don't have to hire someone to do the work means that you will do it yourself. You will need supplies to complete the project for $350. It will take you about 15-20 hours to complete everything. This is 15-20 hours that you won't be able to dedicate to your business. It will cost you between $1,125 and $1,500 plus $350 for supplies.
You might be better off selling your house "as-is" if you feel that small improvements to your home won't bring enough money necessary to make the changes. This is especially true if your home inventory is small and the average price is high.
3. It Is Most Likely That The Home Will Be Torn Down
Some houses are located on property that is much more valuable than the house. If your agent suspects that the buyer will tear down the house to make way for something else, then renovations is not a good idea.
4. If You Want To Attract Cash Buyers
Cash buyers are attracted to certain areas. If the houses in your area are ideal for flips or rentals, you will likely find a small group of cash buyers looking to purchase them. An all-cash buyer will most likely purchase your home at a discounted price, as all-cash purchases are quick and easy.
5. If The Thought Of A Home Inspection Makes Your Stomach Churn
Waiting to find out the outcome of the inspection and whether the buyers are willing to renegotiate because of issues discovered during the inspection is one of the most stressful parts of selling a house. You may be able to skip this step depending on the way your house is listed. Let's say your listing clearly states you won't consider any offers that do not include a home inspection. Buyers will know that you won't be responsible for any repairs that are needed after or before the purchase.