When selling your house, there’s always a chance that there would be a need for some fix-ups here and there — that’s pretty standard. Now, when it comes to serious repairs, that’s a whole different ball game.
This is because these repairs could fall into the category that would render your house unsellable via the conventional route or put a major dent in your home value. So, how do you sell a house that needs serious repairs?
Let’s first review what qualifies as serious repairs.
What Are Serious Repairs?
When any of the major components of a house require repairs, then it is regarded as a serious repair. Here are some of the major components of any house that may require repair:
- Roof
- Electrical
- Sewer and septic
- Plumbing
- Foundation
Roof
This is in the category of house issues that absolutely must be resolved because of its critical positioning. A solid roof is vital to the continued integrity of any property, so roof issues are a source of safety concerns.
Fixing your roof isn’t something you can do yourself and typically costs a significant amount. If you have to replace it, you may be spending upwards of around $10,000 and you would need to have professionals come in.
Electrical
Electrical issues are another aspect that needs to be resolved speedily. Any wiring or panels in need of replacement must be done because they pose a fire risk and safety issues. Also, this project isn’t a DIY thing, so you would need to have professionals come in as well.
The average cost of replacing an electrical panel could run between $1,200 to $1,700. Depending on the severity of the situation, you may be spending as much as $4,000.
Sewer and Septic
Damaged septic tanks and sewer connections pose health risks and can cause major property damage if not fixed quickly. You may get a bill running into thousands of dollars depending on the severity of the situation.
For instance, replacing a sewer line may cost over $5,000 while septic tank replacement would set you back about $7,000.
Plumbing
Plumbing issues are especially prevalent if it’s an old house or you’ve lived in it for a long time. A number of older homes feature cast iron or copper lines that need replacing or may have tree roots growing into the system.
Again, depending on how much work is necessary, repairing or replacing pipes can cost thousands of dollars. Another necessary repair is a leaky hot water heater. Water damage in a home can wreak a lot of havoc, so getting ahead of this is vital.
The cost of getting a new heater, installing it, and getting rid of the previous one ranges between $400 and $2,000. If you’re confident you can handle this on your own, you can do just that. However, if you want to avoid a potential botched job, get a professional on the scene.
Foundation
Foundation issues are amongst the most expensive to fix and are one of the most crucial repairs to get around to. They are also necessary for a conventional home sale.
Problems with your foundation can manifest in windows and doors not shutting, wall cracks, water gathering in basements of low spots, and sloping floors. Repairing your foundation would set you back thousands of dollars.
What Are Your Repair Options for Selling?
Repair options for selling fall into three categories:
- Partial repair before sale
- Full repair before sale
- Zero repairs and selling as-is
Partial Repair Before Sale
If you’re working with a tight budget or you’re not looking to spend too much on repairs, then you can work on the cheapest and fastest repairs. This usually includes projects like:
- Landscaping
- Window coverings replacement
- Light fixtures replacement
- Painting
- Cabinet hardware update
- Carpet cleaning or replacement
These projects serve to boost both curb appeal and make the property desirable at first impression. This may also reduce the severity of the necessary major repairs to buyers. Note that when selling, you would still have to factor these repairs into your pricing.
Full Repair Before Sale
This is the route that most homeowners with enough money and time go. This option is expensive and requires a lot of time. The repairs involved usually require being handled by professionals. For instance, you would need various types of expertise for roof repair, foundation repair as well as wiring and plumbing.
It is advisable to contact several contractors and request their various bids. A general rule of thumb is that materials should take up around 40% of costs and profit margin shouldn’t exceed 20%.
To determine where to put your money, factor in ROI home improvement projects such as:
- Landscaping upgrades
- Major bedroom remodel
- Major kitchen remodel
- Window replacement
- Basement update
- Attic bedroom conversion
- Partial bathroom model
- Patrick’s kitchen remodel
- Entry door replacement
- Addition of a porch, patio, or deck
Zero Repairs and Selling As-Is
There are several reasons why you may opt to skip repairs and simply sell your house in the very condition that it is in. This could range from financial constraints to limited time or simply not wanting all the hassle that comes with repairs.
In such a situation, your best bet is to sell as-is. Selling as-is refers to selling your home in the very condition that it is in, irrespective of how extensive the damage is or the amount of repairs required.
When you choose to sell as-is, you no longer have to worry about those. Rather, it’s now the buyer’s responsibility. This is an option that gets you out of home ownership quickly and allows you to access the cash value of your home fast.
Who’s going to buy? We can help out with that! We buy houses that need serious repairs or are in various other conditions. At dsouzahomebuyers, we can provide you with a cash offer for your house in no time!
You don’t have to deal with any of this hassle. No need for repairs or renovations!
Fill out this form to get the process started, and we could be closing in as few as 7 days! Remember, no fees, no commissions, no closing costs!
If you have any other questions, definitely call us at (925) 503 8193.
Final Thoughts
Dealing with major repairs can be a drain on your finances and a time-consuming process too. If it’s one you’re willing to undertake, then go ahead. However, if you would rather skip that process, remember you have the option of selling as-is, and we’re here to help!
