It’s easy for a house to fall into disrepair. One problem adds up after another, and when money is tight things just snowball. Before you know it, you’re ready to move but you have to admit that your house isn’t really in shape to fetch top dollar.
Is selling a fixer upper even worth it?
Some people may just give their home back to the bank if it’s in bad shape. But wait! You may still be able to sell your home, even if it needs significant work. Here are some tips for selling your home in need to a buyer who is ready to tackle the project.
1. Give the Best Impression Possible
Even if your fixer upper isn’t in ideal condition, it probably has something going for it. As Redfin points out, you may have hardwoods under your carpet or basement space that could be converted into an extra bedroom. Do any minor repairs, cleaning, or decluttering that you can afford. Just because you’re not necessarily going to get market for your home doesn’t mean you can’t maximize the selling price. Even major issues like foundation problems or water damage can look a little better in a buyer’s eyes if they know they’re also getting original floors and tons of storage.
2. Market the Potential
A fixer upper requires a little imagination. Homes with outdated fixtures and neglected lawns don’t look great at first sight, but what about the fact that you have a huge yard? Write a list of the potential for the property that you can use to sell it. Maybe the HOA is uninvasive and there is a new school going up down the street. A fixer upper can still turn into a gem for someone if you show them what it can be.
3. Prepare to Sell to an Investor
An Atlanta Realtor told Realtor.com that if your home needs a new kitchen, new roof, or foundation repair, there is about an 80% chance you’ll sell to an investor. That’s because when a home needs major work, a lot of buyers get overwhelmed. You may be able to sell your property to a new buyer with a vision and a love for big projects — so don’t rule out a regular listing. But if you’re in a hurry to sell and have major structural issues, investigate your local investment buyers.
4. Become an Advocate for Yourself
When you’re selling a fixer upper in Sacramento, someone could try to take advantage of you. They know you’re not in the best position to ask for a particularly high price. But remember what potential your home does have and consider any upgrades you’ve done over the years. Do the research about what comparable homes go for in your neighborhood and subtract the necessary repairs so you have an idea of what your home is worth. If you’re informed about how much your fixer upper could feasibly fetch, you are more likely to get a fair price (whether you sell using MLS or go right to an all-cash buyer).
Are you trying to sell a fixer upper home in Sacramento? At California Family Homebuyers, we have experience buying homes in all sorts of conditions. We’re not scared off just because your home needs some major work! Contact us today to find out more. We’ll give you an honest offer and we can close in as little as seven days in some cases.
Reach out online or contact us at 916-496-3737.