Sell As-Is or Repair: Which Option is Best?

Sell As-Is or Repair: Which Best

Introduction

If you’re reading this, you’re likely facing a dilemma: Should you sell your home as-is or put in the time, effort, and money to repair it before selling? Whether you’re dealing with outdated features, significant damage, or simply want to maximize the sale price, this decision can be overwhelming. You’re probably considering your financial situation, the amount of time and effort you’re willing to invest, and how much you could potentially gain by making repairs. You’re also likely concerned about the hassle and uncertainty of dealing with repairs while balancing your need for a quick, stress-free sale.

This blog will address your concerns, breaking down the pros and cons of selling a house as-is versus repairing it before selling. We’ll analyze the costs, time commitment, and how both options affect the sale price. By the end of this blog, you’ll have a clearer understanding of which option is best for you—whether that means putting in the work or choosing a simpler, faster route.

Should You Sell Your Home As-Is or Repair It First?

When selling a house, one of the most pressing questions homeowners face is whether to repair or sell as-is. The answer depends on various factors, from the amount of time and money you’re willing to invest, to the current condition of the house, and the kind of buyers you’re hoping to attract. Let’s explore the pros and cons of both options to help you make the best decision for your circumstances.

Selling Your Home As-Is: The Fast and Simple Choice

Selling a house as-is is an appealing option for homeowners who want to avoid the stress and expense of repairs. If your house is in less-than-ideal condition—whether due to damage, outdated fixtures, or other issues—this option allows you to bypass repairs entirely.

One of the biggest advantages of selling a home as-is is the speed and convenience. As a cash home buyer, we make it easy for you to sell your property without the hassle of repairs or waiting for buyers to get financing. In fact, when you sell as-is, you can typically close in as little as 7-14 days, allowing you to move on with your life without long delays. For example, if your home has fire damage or structural issues that would otherwise cost thousands to fix, selling as-is allows you to avoid these costs while still receiving an offer.

However, selling as-is doesn’t come without downsides. The most significant drawback is that you may not get as much for your home as you would if it were in perfect condition. Cash buyers like us tend to offer lower prices than traditional buyers, especially when the home needs significant work. If your house requires major repairs, such as fixing a damaged foundation or replacing a roof, you can expect a lower cash offer.

You may also attract fewer buyers, as most people prefer homes that are move-in ready. This means that your property may sit on the market for longer, potentially causing more frustration and time delays.

But what’s the bottom line cost of repairing versus selling as-is? Consider the following example: You’re looking at an estimated $15,000 to $30,000 for repairs, which may include updating the roof, fixing plumbing issues, and addressing cosmetic damage. If you choose to sell as-is, you can avoid these costs, though your sale price might drop by 10-20% compared to a fully renovated home. Still, many homeowners prefer this route for the speed, especially if they need to sell quickly.

If you’re wondering how selling as-is affects property values, a Bankrate article provides further insight into how different property conditions impact market prices.

The Case for Making Repairs: Potential for Higher Profit

On the other hand, repairing your home before selling could lead to a higher sale price. By investing in repairs, you’re essentially making your home more appealing to traditional buyers who are looking for a home that is ready to move into. Repairs can range from simple fixes like painting or landscaping to more complex tasks such as replacing the roof, fixing plumbing, or renovating the kitchen.

The Key Benefits of Making Repairs:

  • Higher Sale Price: Homes that are in better condition tend to fetch a higher price. On average, making repairs can increase your home’s value by 10-20%. For instance, kitchen or bathroom remodels can return up to 80% of the cost in resale value.
  • Attract More Buyers: By making your home more visually appealing and functional, you can attract more buyers, potentially leading to a quicker sale. Buyers are often willing to pay more for a home that doesn’t require immediate work.
  • Improved Marketability: Homes that are in move-in condition are far easier to market and sell compared to homes with obvious issues. A well-maintained home is likely to get better reviews and more interest, especially in competitive markets.

However, it’s important to weigh the costs of repairs against the potential increase in sale price. For example, a kitchen remodel could cost anywhere from $10,000 to $30,000 depending on the scope of the project, while a new roof could cost around $5,000 to $10,000. If the repairs push the total cost into the $20,000 to $40,000 range, you’ll need to be sure that the final sale price justifies the investment.

If your property requires repairs due to significant damage, like fire or water damage, we also offer solutions for selling homes with issues like these. Read more about Selling a Fire Damaged House in Kentucky for detailed advice.

Cost Breakdown: What Repairs are Worth It?

When deciding whether to repair your home, it’s essential to understand which repairs will give you the best return on investment. Not all repairs are created equal, and some might not justify the costs.

  • Cosmetic Updates: If your home looks outdated but structurally sound, small fixes like repainting walls, replacing carpets, or upgrading light fixtures can be worth the investment. These repairs typically cost less than $5,000 and can add up to 10% to your home’s value.
  • Major Repairs: For more significant issues like foundation damage or roof replacement, the cost can quickly escalate. A new roof can cost anywhere from $5,000 to $15,000 depending on the size of your home, while fixing a damaged foundation can cost $10,000 to $30,000 or more. These repairs may not always provide the return you expect, as the buyer may still negotiate a lower price.

In many cases, if the cost of repairs exceeds the expected increase in sale price, it might be better to opt for a cash sale instead.

If your home is facing significant damage, like fire damage, it’s important to understand how this affects your home’s value. For a deeper dive into how fire damage impacts your home’s worth, check out our How Fire Damage Affects Your Home’s Value in Kentucky.

Conclusion: The Best Option Depends on Your Circumstances

Ultimately, the decision to sell your home as-is or repair it depends on several factors, including your financial situation, timeline, and the condition of your home. If you need a fast, hassle-free sale, selling as-is might be the best option, especially if you’re dealing with extensive repairs or financial constraints. On the other hand, if you have the time and resources to make repairs, you could see a higher return on your investment.

Remember, if you want to skip the repairs and sell your home quickly for cash, Good Faith Homes is here to help. We specialize in purchasing homes as-is, including those with fire damage, structural issues, or other major repairs needed.

In conclusion, selling to a trusted cash buyer like Good Faith Homes offers a fast and secure alternative to the traditional real estate market, eliminating the need for repairs or lengthy negotiations. If you’re looking to sell your house without the headaches of repairs, contact Good Faith Homes today for a fair cash offer.