We all love brand-new. From mobile devices to footwear to automobiles, we want the best. We desire to have our items in their very best condition, brand new. If offered a brand new Volkswagen and a fairly used one at similar prices, the chances are that you’ll opt for the brand new. After all, who needs a used car when a brand new one is offered at the same price? With houses, it is just about the same. Arizona home buyers seem to love modern, cool-looking homes.
As a homeowner willing to sell your property, this might trigger you to make some repairs to improve your home. This is great. However, unlike the virtual Volkswagen offer, home repairs come at a cost. And, certain repairs are, to say the least, expensive. What should you know about repairs as an Alabama homeowner? How do expensive repairs affect you as a homeowner?
Why Expensive Repairs?
As an Arizona homeowner, you may be tempted to invest in expensive repairs because you’ve been told that repairs:
- Make the home more attractive.
- Remove buyer’s objections.
- Increase the value of your home.
- Attract a larger pool of buyers.
- Increase your chances of closing a sale.
What Counts as Expensive Repairs?
You may have to make certain repairs before selling your house if you’re not willing to sell it as-is. Knowing the repairs that are likely to cost you a lot will help you make an informed decision. Here are some home repairs that can break the bank:
- Fixing a foundation
- Roof repairs
- Replacing a driveway
- Fixing fire damage
- Fixing mold damage
- Replacing central air conditioning
- Remodeling the kitchen
Effects of Expensive Repairs to Homeowners
1. Money off your wallet
Expensive repairs are one thing-expensive. Before deciding to transform your home, do a cost-revenue analysis and be sure the investment is worth it.
2. There is No Guarantee of ROI
No homeowner goes out to sell his house with the intent of making a loss. The chances are that you’re looking to make a profit from your sale. However, expensive repairs do not assure profit maximization. On the contrary, you run the risk of either closing in on your profit margin or completely erasing it. Remember, buyers want the best homes, but they also want them at the best prices.
3. Repairs May be Time-Consuming
Don’t get so carried away with the final image you have of your home after repair that you forget that repairs take a while. Depending on the level of repair needed, you may spend anywhere from a few days to about a year repairing your home. This may impact your sale negatively as the real estate market trend may have changed.
What to Do Instead
Rather than spending an exorbitant amount on overhauling your home, you can simply sell it as-is. Selling as-is saves you the cost and time expended on repairs. Plus, when you do it with a credible real solutions company like Rhedkey, you sell your home at a competitive price at no extra cost. We buy houses in Arizona as-is. Get a quote, sell your home, and receive your cash. No delay, no hidden costs.
The right repairs can boost your home value, increase your chances of sale and widen your profit margin. However, venturing into expensive repairs may be shooting yourself in the leg.
Recent Comments