The answer to that question depends on several factors (which we cover below). If you have a damaged, vacant, or old house, you may be able to spend some money to fix it up and make it sellable in the real estate market. However, there comes the point where the investment is not with the return. There is a difference between making a few cosmetic upgrades and repairing structural damage or making systemic replacements.
If you have a damaged or outdated house you can’t sell on the market, there is a smarter alternative to a traditional home sale. You can sell your house as-is for cash to a company that buys houses in Louisville, Kentucky. A professional home buyer can look at the property, make a fast cash offer, and quickly close the sale. You sell your house as-is without making repairs or upgrades.
Factors That Determine Whether You Repair Your House or Sell It as Is
Before you decide to repair your damaged property, you need to consider all the factors.
The Real Estate Market
If you decide to sell your house as-is, you don’t have to worry about the market because you won’t be listing your house. Instead, you will sell directly to the buyer in a private transaction. However, if you decide to repair your house, you need to make sure that the real estate market is favorable to your investment. You don’t want to sink a bunch of cash that won’t sell in a poor real estate market.
The Cost of Repairs
Major home repairs are expensive. For instance, a roof replacement can cost around $9,000. Redoing the floors can be as high as $4,500, and a full kitchen remodel may cost you as much as $5,000. If you don’t have the money for repairs (or don’t want to spend it), you may not be able to sell your house as-is on the market. A cash sale may be a better choice.
Your Competition
Selling a damaged property at a lower price may seem like an easy sell. However, most buyers today don’t want to deal with the hassle of repairing a house they are moving into. After all, why move into a fixer-upper when you can move into a move-in-ready house? If you are selling a damaged house, you can expect your competition to have homes in better condition.
Your Current Situation
Are you selling your house because of a specific situation? For instance, do you need to unload your property fast due to bankruptcy, foreclosure, or probate? You may be getting a new job, downsizing, or going through a divorce. If so, you may not have the time required to make repairs, find a buyer, and go through a lengthy closing process.
Why Selling Your House As-Is May Be a Better Option
If your house is in relatively good condition and you only need to make a few light cosmetic upgrades, then repairing your house may be the way to go. However, even if you are selling a house in good condition, a cash sale can still be a smarter choice. Here’s why:
- Faster timeline – close the home sale in seven to 21 days
- Make no repairs or upgrades – sell your house in any condition
- Skip the real estate agent and avoid listing the house on the market
- Pay little to no closing costs or selling fees
- Sell your house regardless of your personal or financial situation
Trying to sell a damaged property today can take up too much time, effort, and money. By the time you make the repairs and upgrades, you may wonder if it is worth it. When you sell your house as-is for cash, you eliminate the hassle of a traditional sale. You can sell your damaged house in three easy steps.
- Call the buyer directly and schedule a walkthrough.
- Get a fast cash offer from the buyer.
- Close the sale in one to three weeks.
That’s it! Save yourself time and money by working directly with a company that buys houses in Louisville, Kentucky.
Contact We Buy Real Estate to Sell Your Damaged House
If you can’t find a buyer and don’t want to repair your house, contact We Buy Real Estate. We buy houses as-is in Louisville, Kentucky. You can sell your damaged house right now and walk away with no strings attached. Call 502-458-2722 to get a fast cash offer.