Selling a Home that Needs Rennovations
Estimating Rehab Costs Prior to Selling a Home
When deciding to sell a home, there are a few considerations to review before listing a home with a realtor. Houses that need updating or have repair issues can sit on the market for months ultimately costing the homeowner thousands of dollars. Homeowners must truly assess the condition of their home in comparison to the updated (or not so updated) competition in the local market.
Ultimately, it is important to know what to fix, and how much the renovation is going to cost in order to convey the benefits of selling at top dollar.
On the other hand, homeowners do have the option to avoid the work and costs associated with renovating and rehabbing an old property by selling their properties to Mike Buys Houses
What to Fix Before Selling a House And How Much They Should Cost
Covered here are a few of the key renovation projects to be checked before selling a home.
We recommend getting a free account at Nailed-It in order to get no-pressure, easy and hassle-free rehab estimates for your home.
1. Water Issues/Plumbing Issues:
Nothing is going to scare buyers away like water.
FHA buyers will struggle to qualify for homes with water issues and just about everyone barring real estate investors is going to try to avoid this situation.
You may definitely want to consider a quick sale, which Mike Buys Houses can do if you have water issues at your property.
2. Outdated Electrical Services:
Potential buyers are going to want to have updated electrical panels and wiring. Knob and tube wiring is especially common as an issue with regards to home sales.
Outdated electrical wiring can definitely hamper your ability to sell your home.
Rewiring a home is an expensive cost so make sure to consult local electricians or use Nailed-It to receive a no-pressure estimate for the cost in your home.
Use Nailed-It to get an estimate for electrical rehab projects from the comfort of your couch.
3. Roof Problems:
Even uninformed buyers know to look for issues with the roof and will instinctively look for water damage. Attempting to sell a home with any sort of roof leak is going to severely limit the number of potential buyers.
A quick sale, by selling to Mike Buys Houses, could be a hassle-free approach if your home has roofing issues that you don’t want to deal with. Issues with the roof include leaking, damaged or missing shingles, missing flashing (the material that prevents leakage between the roof and the siding), etc.
Determine if the cost of repairing the roof is worth it for you. Nailed-It can help you get a free and pressure-free estimate of roofing costs without having to schedule multiple appointments.
4. Outdated Home:
Home’s that have not been recently (think the last renovation earlier than 2000-2005, yeah – that’s old now somehow) will have a severe disadvantage on the market.
Houses that need an updated kitchen, and updated bathrooms as well as painting, and carpet will make renovation costs add up quickly.
A majority of buyers would prefer to purchase a home that is move-in ready. See how you can estimate the costs for kitchen renovations at Nailed-It