How Do I Determine If I Should Fix Up My House Or Sell It As Is To A Fast Cash Buyer?
You’re considering whether you should sell your house. For whatever reason, a job change, running behind on the mortgage payment, or just wanting an improved home space, you decide that it’s time. If the stakes are high, such as that missed mortgage payment from last month, you’re probably skimming the market to sell as quickly as possible.
We understand how overwhelming the situation can be trying to sell your house quickly. Here at House Guys USA, we dedicate our time buying houses within the Kansas City Metro that need help. We understand that you have some real questions –
- How do I sell my home fast?
- What home updates can I make to sell it quickly?
- How do I sell my home on my own?
- Should I even make updates to my home before selling?
There is a lot to consider before putting your house on the market. Understanding if it is worth your time, effort, and money to invest more into your home before selling is a key determining factor you must consider before you decide to sell. We know it’s standard procedure for homeowners to consider spending time and money to fix up their house, so we’ll give you a rundown of the main areas potential homebuyers look to see updated.
Fixing Up Your House For Buyers: What To Expect
When considering putting your house on the market, you must consider your homebuyer. For those looking to put their house on the market, in a lot of ways, you are at the mercy of the market. Hopefully, the market is tilted in the seller’s favor when you look to sell. However, even in the best of seller’s markets, there are still some unresolved updates even the most desperate homebuyer won’t touch. Understanding what those updates are and what they can cost you to repair is an important factor to consider when selling your home.
Cracked Foundation
Every great structure has a strong foundation. Any issues with your foundation are a huge concern for any homeowner because once the foundation has issues, other issues are sure to follow. Whether you have a sinking foundation, a crack, or just a poor foundation all around, getting the foundation repaired is vital for the sale of your home. Nothing stops a homeowner from purchasing, even the most beautiful of homes, faster than foundation issues. However, fixing your foundation is not cheap. The average cost to repair a foundation is $4,544 with some repairs costing as much as $20,000 to repair.
Missing or Damaged L-beams
L-beams, or load-bearing walls, structure the frame of your house. In other words, they are what holds up your house – the skeletal aspect, which prevents your house from collapsing. Without understanding the structure of a home or how it was built, a new and inexperienced homeowner can come in and make alterations to the house that actually weaken or totally remove these load-bearing beams causing the home to be structurally unsound. When these issues are found, repairs are absolutely required in order for any individual to safely move into the home. For a lot of homebuyers, an update like this right off the bat is a deal-breaker and they will not move forward until the seller agrees to repair the damages or compensate for those damages. The average cost to repair a damaged or missing L-beam is $2,851.
Roof Repairs
Without proper roof repair, you will have a leaky roof which will eventually damage the insides of your house. Sometimes leaky roofs can require minimal repair that can take up to one day’s worth of home repair by the homeowner. Other times, if leaky roofs cause extensive damage, it opens up a load of more problems that typically come with aged roofs. In such cases, those damages may include mechanical issues, flooding, vermin infestation, asbestos leakage, and radon gas leaks. Any one of these will require extensive fixing to the roof and surrounding areas. This is why the roof is a top priority when it comes to selling to homebuyers. The average cost of a small repair is $884. However, put extensive damage into consideration, and you might be looking into something as pricey as $3,000.
Basement Flooding
This one is very common in houses. To prevent it, you need a strong foundation, gutter extensions, and waterproofing for your basement walls. When flooding happens, not only do you have to take extensive time cleaning up the water, but it can also cause mold outbreaks and compromise the structural integrity of your house. It is for reasons like this that potential homeowners look at the basement as either a headache of required fixes or additional space for a media room or storage. When you think about that in the context of trying to sell your home to these potential buyers, know that they will have a close eye on the basement and any cause for concern could mean a missed sale. However, fixing water damage in your basement and taking preventative measures to avoid future damages does not come with a cheap price tag. The average cost of protecting your basement – like installing a pump sump, establishing a drainage system, or fixing up the plumbing – can cost up to $6,500.
Termite Damage
This one is pretty self-explanatory. No one wants termites! Not only do termites destroy the wood that makes up your house, but they also denigrate the basic structure and foundation of your home. Basically, they can destroy all kinds of wood and damage ceilings, floors, shingled roofs, and more. You’ll know that termites have come to roost in your home when you see little pinholes within the crown molding of your home and what looks to be sawdust nearby. Not only are termites a disaster for any home, but they eat a hole right through your wallet. Not only will you have to hire a specialist to inspect and treat your home for termites (which can cost on average of $3,000), but you might be looking at additional payments to fix extensive damage.
Outdated Kitchen Appliances
While your 1950’s turquoise blue oven might “get the job done”, it doesn’t necessarily mean it is a great selling point. Don’t get us wrong, a fully functioning “retro” piece could be a huge selling point for the RIGHT buyer. However, if that appliance doesn’t work like the day it was installed, you might be looking at trouble ahead. A potential homebuyer might not be looking for the latest and greatest in kitchen appliances when they look to purchase a home, but they want to know that they aren’t immediately going to have to make additional investments in big-ticket items like a fridge, oven, stove, and dishwasher. They are already committing to a large purchase (a home), and they don’t want to keep throwing money at problems after the deed is signed. It’s for this reason that you will likely receive bids under your asking price or few bids overall if you have appliances that need to be replaced. If you have multiple appliances that need some TLC, you could be looking at thousands of dollars investing into items you will never get to use.
Original or Older Windows
Homebuyers are looking to make a large investment into a property where they will spend the majority of their time, and that will ultimately have an effect on ALL of their bills. These homebuyers are acutely aware of this and are looking at every little detail of a home when thinking about buying. So while windows might not seem like something they might be looking at, it is a huge factor. A lot of older homes in the Kansas City area still have their original one-pane windows installed. While these usually offer some additional charm to a home, these windows often do not protect your home or your electric bill against the outside elements. These drafty windows often increase your overall electric bill, and with many older homes, there is no “one-size-fits-all” for window replacement. So, the homeowner is often left with a larger-than-average bill to replace the old windows with new custom ones. If a homebuyer notices single-pane glass or foggy windows, you are likely looking at replacing the windows or a low offer on your home. Depending on how many windows need to be replaced, you could be looking at anywhere from $600 to $10,000 worth of window updates.
Failed Septic System
Septic systems are underground wastewater structures that use a combination of nature and technology to treat water from household plumbing. Think of it as a system of pipes. When your pipes don’t seem to be working, it’s a bigger sign that maybe the septic system is failing. Signs can include flooding in the basement, a strong odor coming from your septic tank, and gurgling from your drains.
Perhaps you’d like to know, “Can I sell my house with a failed septic system?” This one depends on several factors. In some states it is illegal, so be sure to consult your real estate agent to find out. If your septic system didn’t go through an inspection before closing day, the sale may be delayed. Other times, if you can’t repair the system before closing day, the money for the repairs will have to be held in escrow and you’ll have to pay 1.5 times more than the original cost. The overall cost can vary greatly. The average replacement cost is $3,000-$6,000. However, if you need to replace the entire tank, it can vary from $10,000-$25,000.
Any combination of these repairs could add up to a large sum of money that you would need to invest in a home you are looking to get rid of. For someone looking to sell their home quickly for cash or for those looking to sell their house for the extra cash, this isn’t an option. Not many homeowners looking to sell their home are ready to take on additional debt in order to sell it. When you’re not ready to invest more into a home you are looking to sell, you have cash home buyers like us at your disposal.
Selling Your House As-Is: What To Expect
As fast cash house buyers, we buy homes quickly; no house repairs or any extra work involved! We buy your house as-is. Yep, that’s right – you forgo additional expenses and sell your home to us exactly as it stands. We take on the burdens for refurbishment ourselves and you walk away with cash in your pocket.
If that isn’t enough to relieve you from any other worrisome burdens, we also guarantee:
- No broker fees.
- No real estate commissions.
- No complicated process to sell.
- No obligation or pressure to sell.
- It’s free!
We are passionate about ridding people of their problem properties and giving them a solution that works best for them. We buy houses for cash for that exact reason. Sell your home fast! Sell your home for cash. If you want to find out more, give us a call at 816-892-2132 or contact us at info@selltohouseguys.com. It’s that easy!