Can You Sell Your Buffalo, NY Home In Poor Condition?
If you’ve ever gone online and looked at real estate listings, you’ve probably noticed that most of the houses featured look like they’re in perfect shape. If your house is less than perfect or in poor condition, you might be thinking there’s no way you can sell right now.
That couldn’t be further from the truth. No matter the condition of your Buffalo, New York home, you can sell it.
What Exactly is Poor Condition?
“Poor condition” can mean many things to many people. For some homeowners, it may simply be that the house needs a few updates or minor repairs. Maybe some rooms need repainting or the carpet or flooring is stained. Perhaps the kitchen or bathrooms need some updating, or maybe the landscaping leaves a lot to be desired.
On the other hand, some homeowners may see a home in poor condition as one that is completely uninhabitable. Perhaps the plumbing or electricity is in disarray or the roof is falling apart. The home could have black mold or asbestos. The HVAC system may not work at all, or the foundation may be crumbling.
Oftentimes, homes that are considered to be in poor condition fall somewhere in the middle. The house is livable, but it may have some non-working fixtures, or maybe it needs some repairs. For example, certain faucets or light fixtures don’t work at all, or maybe the plumbing in one bathroom is no good. Maybe it needs roof repair rather than replacement, or maybe there’s some damage to the flooring in one or two rooms.
No matter which of these categories you feel your home fits into, you can still sell it. There are no limits. How you sell it is up to you.
Should You Make Repairs First?
Even if you want to sell your home in what you consider “poor condition,” you may be tempted to make some repairs first. And there’s no one-size-fits-all answer as to whether or not you should.
Your time and budget will play a role in helping you make that decision. If your house only needs some minor updates and repairs, there’s no harm in completing them. Many people are able to a weekend and install new light fixtures, update some landscaping, or paint a few walls. These are usually cosmetic updates and repairs that can be done by the homeowners themselves. But even those repairs can add up.
And you may find that your house needs more extensive repairs. Your kitchen may need a full renovation, or your HVAC system may have seen better days. It may be time to replace the roof. You have to decide if it’s worth making those investments.
Should You Sell Your Home as Is?
Once you start crunching the numbers, you may find that you don’t really have the budget to do those things, and that’s okay. You can always sell your house as is. People typically do this when they don’t have the time or money to make major repairs or when they’re in a tight spot. Maybe you need the money to pay for something else. Maybe you inherited a home you don’t need. Maybe you just got divorced or you have to move because of your job, and you need to sell your house quickly. There is absolutely no shame in deciding you’re not going to make any repairs.
Just keep in mind that if your house is truly in poor condition, you may not sell it the traditional way. Instead of listing it with a real estate agent and selling it to another potential homeowner, you may find someone who wants to make an investment. They’ll usually pay cash for the house, which means you don’t have to wait for them to get a mortgage. There are no closing costs or real estate agent fees or commission. It’s actually a pretty quick process too.
So, how Do You Decide?
So, how do you make the decision between making those repairs or selling the house as is? Start with your personal situation. Ask yourself:
– Do I have the money to make the repairs?
– Do I have the time to make the repairs?
– Are the repairs minor and/or cosmetic things that I can do myself or will I need to bring in a professional?
– Am I in a hurry to sell the house? (Do you need to move quickly, get your hands on the cash quickly, or do you own the home due to circumstances beyond your control?)
Beyond your personal situation, there are some other things to consider. First, what’s the market like at the time you want to sell your home? If it’s a competitive market where houses are selling fast for big bucks, you might do pretty well, even if you don’t make those repairs. If you live in an area of Buffalo that’s on the rise or where people are making big investments, it might be good to go ahead and sell too.
You’ll also want to think about your return on investment (ROI). If you inherited a house as is or bought it and haven’t put any money into it, why not go ahead and sell it if the market is good? You make a profit no matter what you decide to do. If you’ve put $100,000 of work into your home in the last few years, it may be worth it to make those minor repairs to get your money back.
Ultimately, the choice is yours, of course, but don’t ever shy away from selling your home because of the condition. At the end of day, every single house is sellable.
IPG Buyers is here to help!
At IPG, we’ll look at your home in any condition and won’t require you to make any additional repairs or deep cleaning. We understand for any number of reasons you sometimes you just need to get out of a house, and a IPG consultant can help you accomplish this while getting you cash in as little as one month. Learn more about our process here!
No matter your situation, or what condition the property is in, we can help find the best solution for you to assist in selling your home fast and easy!