Is it Possible to Sell a Home Without Renovations?

Is it possible to sell a home without renovations?

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Sometimes a seller wants to put their home on the market despite the fact that a number of renovations need to be done on the structure – they’d rather “just get out” given the necessary work instead of investing the time (and money) into getting repairs done.

But is this really a good idea? Will potential buyers be interested in a home that requires work? Is it possible to sell a home without renovations?

The answer, in short, is yes – it is possible to sell a home without renovations, however there are certain things you should know before you list your property. Here are some quick tips on how to sell a home without renovations.

1- Take into account the potential cost of the renovations when determining an asking price for your home.

If your house, in good condition, would sell for around $265,000, and you estimate the necessary repairs would cost approximately $20,000, it’s more realistic to ask for $245,000. The more reasonable price will make the thought of having to invest money in renos all the easier for the buyer to swallow. It can also be a great negotiating tool.

2- Offer more inclusions than originally planned.

If a buyer knows that they will have repair costs in addition to their mortgage, this could be a daunting commitment financially. However, if there are a number of valuable inclusions such as light fixtures, window treatments, appliances (like a fridge, stove, and washer and dryer), tools, or lawn care equipment, these can help offset the costs of renos in the buyer’s mind. That way, the purchase hopefully doesn’t seem as overwhelming since they are getting “so much more.”

3- Be open to negotiations.

Don’t be afraid to use the word “negotiable” in your listing – this shows the potential buyer that you are open to discussions about final price. This doesn’t necessarily mean that you have to reduce the price at which your home is listed substantially, but if you’re trying to sell a home without renovations, you also have to be prepared to negotiate in order to find common ground.

4- Be upfront with the buyer.

Don’t try and pretend that your house is in tiptop shape if it isn’t – if you’re being honest and upfront with regards to the state of the property, you’ll gain the confidence of the potential buyer more easily. This may also help you to avoid possible repercussions of selling a house with hidden defects (which can be a concern even after the sale is complete).

5- Use the services of DuProprio.

No matter the state of your property, it is possible to sell a home without renovations on (and you’ll be saving thousands on commission!). We offer free legal advice to our clients as well, so if you have any questions about whether you can sell a home without renovations, there’s always someone here to help you.

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