Itâ€™s a question that every home seller will need to face at some point during the New Albany home selling process: Should I fix my home to make it more attractive to buyers or try to sell it as is?
Like many things in life, there is no clear answer to this question.
After all, your decision whether to sell your home as is or not will depend on a variety of factors, which we will explain below.
Properties for Sale on the New Albany Real Estate Market
There are many factors that one should consider when deciding whether to sell their home as is, including competing inventory, recent New Albany housing market activity and more.
If your home is going to cost a lot to repair to the level where normal home buyers would want to purchase it, you may consider pricing it below market â€“ especially if youâ€™re in a hurry to move out.
By doing so, youâ€™re likely to attract multiple offers either from investors or home buyers willing to do repair work themselves who are looking for a “deal”.Â Generally speaking, fixer-upper buyers will not pay top dollar on a home in need of repairs.Â Â Theyâ€™ll probably factor in the cost of the repairs as well as a cost for the hassle of doing them into an offer. Thus, if you definitely have a price point you want to meet on the sale of your New Albany home, you may just want to make repairs before you list your home.
If youâ€™re trying to add value to your home by making repairs to it before you list it on the New Albany market, remember that the improvements in kitchens and bathrooms have the highest return on value.
Here are some other factors that you should consider when deciding whether to sell your home as is:
- What do other homes in your price range and location have? If all other homes have renovated kitchens, you may consider investing in a remodeling as well. Otherwise, youâ€™re likely to receive low ball offers.
- Is it a sellerâ€™s market? If it is, youâ€™re more likely to get away with selling your home as is because buyers will be desperate to close the deal. If itâ€™s more of a buyerâ€™s market, you may have to put some sweat equity in your home to attract potential buyers.
If you decide to fix your home before listing it on the New Albany real estate market but donâ€™t want to completely wipe-out your bank account, we recommend you make these minimal repairs at least:
- Patch any holes and cracks in the walls and ceilings; touch up woodwork and trim
- Fix or replace broken appliances and HVAC systems
- Fix leaky faucets; possibly update hardware
- Replace darkly-painted or wallpapered rooms with neutral colors
- Replace old, stained, or dark colored carpet
- Make sure your home is up to code
- While not a repair, decluttering the house, closets, and garage costs little and is time well spent
Your Expert New Albany, Ohio REALTORS
If youâ€™re considering listing your home anytime soon on the Central Ohio real estate market, we hope you found the above information helpful!
We also welcome you to check out some of the helpful real estate tools we are already offering online for free, such as:
Until next time,
Kate & Tony