In this segment we are going to look at why you would make the decision to sell your home AS-IS vs renovating, updating or repairing. First, the only person that can make that decision is you, the homeowner. No one is going to talk you into selling your home if it’s not on the table for you to discuss. Now that we get that, what you would think is an obvious statement, out of the way, let’s look at reasons it makes sense to take that AS-IS cash offer.
1. TIME- Many Americans don’t want to use our time renovating our home. Unfortunately, most Americans are working more and more hours to make a living. That makes their time off or even while they are at work sacred. Using that to renovate a house feels daunting and not the idea of fun or relaxing that we want with our time off. Not to mention we have other obligations with our time off such as children, doctors’ visits, appointments, errands and so on.
2. KNOWLEDGE- A lot of Homeowners feel they can do some type of home remodeling themselves. The problem is, if it’s not done correctly, that hurts the value of your home. Others don’t feel confident or don’t have the knowledge to renovate their home. Then they must hire out someone which means now they are paying for someone else’s knowledge, labor and materials. Which leads us to the next topic.
3. MONEY- Let’s face it. Everything is more expensive. Meaning you need to have these expendable liquid funds to make the necessary updates to sell your home for market value. Look below at what the range of cost is for a few main types of updating your home. All these prices depend on the size and grade of material used.
Kitchen- $10-50K
Bathrooms- $5-25K
Roof- $5-12K
Bed/Living Room- $1-10K
Basements- $20-75K
Septic Systems- $2-15K
4. DESIRE- Maybe you have the time, maybe you have the money but you definitely don’t have the desire. You want to get rid of this house and start new. You may have inherited the house, and you want nothing to do with the house. Maybe you have so much going on already that even thinking about renovating this house gives you anxiety.
In all of these cases and many others, a cash AS-IS offer works out well for you. You don’t have to touch the property, you typically don’t have to work with a realtor, you don’t have to worry about banks backing out of their loan or a buyer who’s getting a loan backing out because of their down payment or many other reasons. At the end of the day, just like we started this segment, its entirely up to you, which option fits you best!
-Fairhousepurchase.com conversations