Should I Renovate My Home Before Selling or Sell It Now As a Fixer-Upper?

By Mark Spain Real Estate

To renovate or not to renovate. If you are in the market for selling a home, there can be a lot you will need to keep in mind when it comes to costs. From ensuring your home stays neat to hiring the right real estate agent to help guide you through the process, outlining a budget is crucial for real estate success. However, determining a budget may be difficult if you consider selling a fixer-upper. When selling a fixer-upper, there’s one big question that will weigh heavily on your budgeting plans: do you renovate the property or sell it as-is?

Such an important question should only be answered by thoroughly exploring the pros and cons of either option. Luckily, the experts at Mark Spain Real Estate have plenty of experience when it comes to selling as-is fixer-uppers, as well as properties renovated to hide their fixer-upper past. Below, we’ve compiled a list of things that may help you decide between selling a fixer-upper as-is or renovating one. 

Should I Renovate My Home

Debating The Investment

Fixer-uppers are an investment. But whether a fixer-upper will be an investment for the buyer or the seller is decided by the seller. If you’re a seller putting a fixer-upper on the market, then you’re going to have to weigh the investment outcomes. Each scenario has pros and cons.

Investing

Sellers who invest money in their property prior to listing it on the market may receive more competitive offers on their homes. However, they may have substantial up-front costs to ensure their home loses the “fixer-upper” label. Consider cost-effective solutions when determining your renovation budget.

Selling As-Is

Sellers who decide to forego the investment on their fixer-upper property save thousands of dollars in up-front expenses before listing. However, they may be overlooked by buyers looking for a move-in-ready home. Strategic planning may help you overcome this. The Expert Listing Consultants at Mark Spain Real Estate can help you plan strategically and decide if selling as-is is the right call for your property.

Determining Priorities

Is your priority to get the most amount of money from your property, or is it to go onto new horizons as quickly as possible? Your priorities, or purpose for selling a home, may solve your investment versus selling as-is dilemma. Sellers seeking to maximize their profit may benefit from making strategic investments in their property before listing. Determining what those investments should be will affect your overall budget. Modern and aesthetic enhancements will make the initial investment higher, as well as necessary structural replacements, but may ensure sellers offer top dollar for your property.

Those who are ready to start their new life elsewhere may want to abstain from investing in their property. However, they should be aware that fixer-uppers usually attract investors, start-home buyers, and bargain hunters: meaning that your offers may be lower than expected. 

Decide to Renovate Your Home With Mark Spain Real Estate

Not sure what to do with your fixer-upper home? Don’t fret. Place your trust in the experts at Mark Spain Real Estate and receive the guidance you need to successfully navigate your market options. With experience in key real estate markets across the Southeast, our agents are prepared to help you reach your specific goals. And if you’re interested in selling your fixer-upper as soon as possible, check out our Guaranteed Offer Program. Receive a competitive cash offer on your home in just 21 days. Contact our agents today!

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