The minute you move into a new home, its value begins to depreciate.
It doesn’t matter if it’s brand new or previously owned. It doesn’t matter if it’s located here in Vermont or on the other side of the country. You can mortgage the property, buy it outright or rent it; any way you slice it, that house is only going to depreciate in market value over time.
There are a myriad of factors that influence the depreciation of your home.
Poor economic shifts can depreciate the value of your home. Low-ranking school districts can depreciate the value of your home. Vicinity to train tracks, airports and highways can depreciate the value of your home.
Unfortunately, that is only a few of the many examples of why your home might lose value. This can make learning how to sell a house that needs repairs seem like an endless task.
Most importantly, the condition of the home will determine how much value it has lost. When figuring out how to sell a house that needs repairs, this already complicated process might look like an insurmountable obstacle at first. But never fear!
In this article, we’ll discuss selling your nightmare house for a fair price, and getting the most out of the sale, and how to sell a house that needs repairs. Bypass the hassle of dealing with realtors who work on commission and avoid months of worry.
Whether the house needs major repairs or minor repairs, some strategies can help you solve your fixer-upper fiasco once and for all. Read below to find out how to sell a house that needs repairs in Vermont.
How to Sell a House That Needs Repairs in Vermont
I won’t sugarcoat this; selling a house that needs repairs is not an easy task. But it’s also not a death sentence. Potential buyers will not necessarily dismiss your fixer-upper off-hand, especially if you can predict the interested buyers for your property.
Here’s a handy list of tips on how to sell a house that needs repairs.
Consider Making Major Repairs
First, we’ll cover the major repairs that are necessary to deal with before you even think about making a home sale. In order to sell your fixer-upper, you’ll have to have your property checked by a home inspector.
If they find any of these problems, it could be impossible for you to list the house:
- Your home shows signs of mold or mildew damage.
- The roof leaks or needs repairs.
- The electrical system is malfunctioning, needs updating, or needs repair.
- There are major plumbing issues, like broken pipes or pipe leaks.
- Faulty or cracked foundations.
If you find yourself facing one or more of these major repairs and you don’t have the money to fix them, we’ll cover some solutions later in the article that might be of some help.
If you do have the money to make the repairs, this will help you pass your home inspection, but there are plenty of minor repairs that you will have to keep in mind as well.
Even if a home inspector signs off on the house’s condition, that doesn’t mean you’ll be able to wrangle in interested buyers.
Make Necessary Minor Repairs
Other than the major repairs mentioned above, there are lots of minor repairs that you should tend to before listing your house for sale. This mundane repair work might seem inconsequential to some, but ask any realtor, and they will tell you that even the most minor details can affect the value of your home.
- Give the house a detailed cleaning and eliminate any signs of dirt, debris, or clutter.
- Cover basic cosmetic tasks like painting, putting down new carpet, and patching any holes in the walls.
- Redo the caulking in your kitchen and bathrooms. A fresh coat of caulk can add tremendous value with little cost and effort.
- Updating the lighting fixtures is a little more expensive but can add a dazzling touch to the home.
- Flooring is another expensive option, but the return on investment is well worth the price.
- Landscaping can get pricey too, but presenting a well-kept and tasteful yard goes a long way.
Price it Correctly Based on Repairs Needed
Even if you don’t have major repairs or minor repairs to deal with, estimating the correct price of your property can make or break your selling dreams. When pricing, you must consider supply and demand, the current housing market in your area, and how those endless depreciating factors affect your property value.
Check any houses in your neighborhood or around it, go to their open houses, check their listing prices, take note of what repairs or renovations they’ve utilized.
Other than a home inspector, you’ll also need to make an appointment with a home appraiser to come out and determine the market value of your property. Most banks require this before they will sign a loan for prospective buyers.
Also, check out the Federal Housing Finance Agency’s website if you feel like you need a little extra help. They provide a whole array of tools, including a house price calculator to help you find a realistic asking price.
Redecorate Your House
Even the arraignment of your furniture can make it harder to sell your house. Just as you’ll want to visit local open houses and take notes of the way others have decorated their homes, you should be acutely aware of how visitors and potential buyers view the layout of your home.
Little things like fresh plants and flowers, throw pillows and artwork can go a long way in impressing potential buyers. The goal is to make the house look spacious, clean, and as much like a display home as possible. Homes that appear “lived in” will easily fail compared to other homes that have taken great care to cultivate a good image of their property.
Though your house most likely represents your quirks, hobbies, and personality traits, you’ll want to serve up a clean slate for anyone viewing the property. Remember, you’re trying to help them imagine themselves living there, not you.
Consider Selling Your House for Cash
Anywhere you go you can find posters pinned up everywhere exclaiming “We Buy Homes Vermont”.
During the past decade, the rise in popularity of “flipper” shows where enterprising people buy houses in need of repair, renovate them, and then turn around to sell them for a profit.
Because of this, and because of the amount of money that can be made, it’s easier than ever for you to sell your house to cash home buyers in Burlington.
Cash buyers, like the flippers mentioned before, are willing to buy properties in need of both minor repairs and major repairs.
Not only that, if you’re experiencing other difficulties like code violations, homes with past-due taxes and fees, and homes with title issues, cash buyers will pay a fair cash deal for your home. After that, they shoulder all those responsibilities.
Even with serious problems like selling a house with mold damage is just an everyday part of a cash buyer’s job. It might seem impossible to you but you can easily sell your house as-is with the help of a Vermont cash buyer.
Working With a Vermont Cash Home Buyer
Even some of the repairs mentioned earlier, the ones that could make it impossible to sell, might not worry a cash buyer. You don’t have to worry about either of the previous lists, because the cash buyer is the one responsible for making the house ready for market.
You’ll start getting your offers much faster and could possibly sell your homes in a fraction of the time it takes with traditional real estate agents.
Here in Vermont, there are many places that might offer you cash for your home, major repairs and all. They aren’t like traditional realtors, because they won’t earn money simply selling your house, so it’s up to them to get it ready for market. They understand your issues and can work with you to help get you a fair cash deal for your home.
Small businesses like Burlington House Buyers are easily accessible, easy to contact, hard-working, and ready to tackle the problems in your fixer-upper that might be impossible for you to deal with.
Conclusion
Even the most optimistic sellers can find themselves overwhelmed by the amount of work necessary to sell their homes. When the home needs minor repairs, the issues aren’t too tough to tackle, but if major repairs are needed or other problems arise, the job can become nigh on impossible.
If you’re in that position after reading this article, wondering how in the world you can get all of those renovations and prerequisites handled, maybe selling your house to a cash buyer is the answer to all your problems.
With a little research, you can work from a position of strength to find the cash buyer that’s right for you. There is no shortage of choices, but finding a flipper to sell your fixer-upper is a lot less overwhelming than making sure your house is ready for market.
Eliminate all the fear, stress, worry and save yourself from the endless to-do lists and trips to the hardware store. You can get a cash offer the day of. Compared to using traditional real estate agents, you will only have to worry about making one decision.
Do you want to take on the mammoth responsibility, or do you want a guaranteed cash sale for your home?