Selling a fixer-upper as is has become more popular over the years. If you want to attract buyers without investing in sweat equity, now is the time to put your property on the market. Here are the many reasons why you shouldn’t bother to fix your house up:
Sellers Control the Market
In today’s real estate industry, demand continues to outpace supply. Builders aren’t making new properties fast enough, and there’s not enough inventory to satisfy the needs of those who want to finally gain a foothold in the property market.
The status quo can work to your advantage as many desperate buyers are seeing more value in purchasing a fixer-upper than continue renting. Plus, those who don’t qualify for more expensive properties would be more drawn to less costly options. Even if you don’t think your home is pretty enough, you should worry about losing a sale in a seller’s market.
Many Home Improvements Don’t Pay Off
Not all renovations are useful at the negotiating table. If you invest in high-end interior upgrades or deluxe landscaping makeovers, you can’t expect to get more in return or at least recoup most of your expenditure at resale. If your fixer-upper still has attractive curb appeal, you shouldn’t have any trouble finding serious buyers quickly.
Flippers Are Everywhere
Many fixer-uppers don’t spend too long on the market because of real estate investors. The number of flippers is growing, compelling them to become more aggressive in buying properties in not so good shape to turn a profit. If you target quick house buyers and work with one directly, you can close the sale fast and be paid in cash without sharing any slice of the pie to any middle person.
Your fixer-upper may not be the dream house most buyers are looking for, but there’s definitely a market for it. If you play your cards right, you can get it sold in no time without inconveniencing yourself with disruptive home improvements.