Every seller and investor wonders if they should try to repair the flaws in their home or just sell it as is. There are several externalities to this issue: few people have enough time to make the required repairs to the house, hence selling it as it is often the best choice in their minds.
Table of Contents - Should I sell my home or fix it up?
Should I sell it or fix it?
There are several things you must keep in mind while answering these questions to yourself:
Does your house need significant repairs that would significantly impact a house inspection?
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- Are the repairs required in your house major enough that they would impact a house inspection? Any sensible buyer follows this routine, and many take advantages of your laziness by deducting the cost of maintenance from the purchase price of your home. If you think this would place you at a disadvantage, you can take care of it yourself.
- Real estate agents adore the fact that the house they're selling is in perfect condition. If you're investing in an agent and want to get the best deal, it's a good idea to take care of the repairs and have a solid foundation for your agent to negotiate on.
- When looking at the repairs, it would be beneficial if you still noticed the positive cash flow. Will it help in the improvement of your cash flow? Is the property nothing more than a money pit? Are you looking to sell to invest in another significant property?
It's entirely up to you to decide whether or not to repair the house based on these three conditions. We at Canadian Real Estate Network assume that every case is unique and that in some instances, fixing the house is unnecessary because the cost of the house would not be dramatically impacted.
Our network is based on the concept of giving each case individual utmost personal attention before recommending the best solution. If you are completely confused about what to do, we recommend contacting us or posting this on social media and asking your friends to seek a second opinion.
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