A question we get asked a lot in our industry is “Is my house too ugly to sell on the open market?” The truthful answer is Maybe, probably not, but here are some things to consider…
Number One
Consider that today’s buyer is an HGTV buyer. 10-15 years ago there was not he branding / marketing / hype behind home remodels that there is today. People like Chip and Joanna Gaines and the Property Brothers have set an incredibly high bar for what a new house / remodeled house looks like. When people are coming to your house they’re not comparing it to their Grandma’s old house or the house they grew up in, they’re comparing their new potential residence to houses on Pinterest, TV and YouTube.
That being said if you’re not willing to put in the money to get your home to that place your property may not be as appealing as you think it is. Remember that emotional value that you have created in your house means nothing to the next person who might own it. So, does that mean your house is too ugly? Not at all. It just means that there is a very specific buyer that your property will appeal to because the vast majority of the market is comparing apples to oranges when it comes to your house versus houses they see in the media.
Number Two
Can you afford to repair your house?
We are very transparent at every one of our appointments, letting you know that the best option you’ll have is to fix the house yourself. Whether that means major repairs like replacing your roof, broken windows and destroyed walls or minor stuff like updating your bathrooms and kitchen. Taking care of these repairs yourself will always yield a better return on your sale compared to trying to sell it “as is.” The question is, can you afford it? On average very few homes we go to need less than $20,000 worth of repairs to be brought up to Market standards. That being said, if you choose to sell with a realtor be prepared to discount the value of the property significantly to attract a legitimate buyer.
Last thing to Consider
How long can you honestly afford to keep the property. So because of the first two things, HGTV, and the price of repairs, this last part plays a major role in deciding whether or not listing a house is a good idea. If you can’t afford to fix the house up to market standards, the demand for your house will become much less.
Does that mean there’s not a buyer? No. There is. For sure!
What it does mean is that, that buyer, is a lot more rare than your standard buyer. If you fixed your property to that HGTV status, chances are your house would be listed and sold within a month, maybe 2. But that’s a very high standard to achieve. If you sell your house as is and it’s ,let’s just say “dinged up,” you’re going to have to have a significant value decrease like we mentioned earlier, but you’ll also have to account for the amount of time it’ll actually take for that rare buyer to come across your home. On average what we tell people to honestly be prepared to have it listed for 8 to 12 months.
If you can’t afford to make that payment for another year then maybe an option you can consider is giving us a call!
We buy properties as is.
No repairs needed.
No cleanup needed.
Literally as is.
We can come in, make you a fair cash offer after a free 20-minute, no obligation, property assessment. Typically we can close in as little as 21 days and get rid of your problem property.
If you’re interested in getting your offer and seeing where we stand, give us a call at 915-593-3300 or visit our website at www.Quicksellbuyers.com. We look forward to the opportunity to work with you, and remember, when you work with us there’s no repairs, no stress, just results.