Is Your Fixer-Upper More Work Than You Bargained For?
If you love a good home makeover show, there’s never been a better time for it. In the world of reality TV, home makeovers look practically magical. Investors take an old home in disrepair and completely transform it all in the space of an hour with commercial breaks. Unfortunately, real life isn’t always that easy.
When you buy a fixer-upper, it can seem like a world of possibilities is in front of you, but sometimes you can end up biting off more than you can chew. If you’re starting to wonder if your home transformation isn’t meant to be, our investors at Bill Buys Houses can help you sell your house fast and move on. In this post, we’ll share advice for deciding if your home is more work than you bargained for when you made the purchase. Give us a call to get an offer and sell your house in as-is condition.
Investment or Headache?
Flipping a home can look super easy on television. But in reality, when you buy a home to renovate, you’re always making a gamble. While traditional home investments tend to reflect the local real estate market, different rules can sometimes apply when it comes to fixer-uppers.
Ideally, a fixer-upper is a home that has potential and needs only cosmetic alterations that can be easily renovated. Often, homes in otherwise desirable areas can end up getting passed over due to cosmetic issues and outdated fixtures. This is especially true for first-time buyers who tend to prefer a turnkey home purchase.
However, even if a home seems like it has only cosmetic issues, there’s always a chance you could run into more significant problems as your renovation process begins.
Problems with the Location
Ideally, a good fixer-upper should be located in a neighborhood that’s up-and-coming. But sometimes investors can end up overlooking other problems with the location if the home does seem to be in a good area. Maybe you bought a home before you realized a large shopping center was getting built next door. Or perhaps there’s been a rash of crime in the neighborhood or there’s a geographical issue that you weren’t initially aware of. While some problems with location can be mitigated with a high-value renovation, it may be better to cut your losses and move onto the next project.
Problems with the Home’s Condition
While serious investors often purchase homes that need extensive renovations, it’s important to decide how much work you’re willing to take on. While you might be willing to complete some extensive renovations yourself, some renovations can end up becoming quite costly.
These are examples of simple cosmetic renovations most investors expect when they purchase a fixer-upper:
● Damaged, outdated, or broken windows and doors
● Carpet, floors, and tile that needs replacing
● Outdated light fixtures
● Exterior painting or siding replacement
● Trim and molding installation or replacement
● Interior paint and wallpaper
When purchasing a fixer-upper as an investment, more extensive repairs can seem reasonable when the price is good. But the amount of time and money involved in the renovation process can get away from you as you get further into the process. Here are some examples of more costly repairs:
● Foundation damage
● Plumbing and sewer line problems
● HVAC replacement
● Roof replacement
● Electrical wiring issues
● Undesirable layout
● Not enough bedrooms or bathrooms
● Extensive pest issues
Selling a House As-Is
If you’ve found yourself stuck in a fixer-upper that was more than you bargained for, don’t beat yourself up. You’re not the first buyer to end up with a project bigger than you meant to take on and you certainly won’t be the last.
Instead of continuing to spin your wheels and drop money on a house that’s costing you more time than you want to spend, consider selling your house as-is. At Bill Buys Houses, we buy houses as-is no matter what condition they’re in. With a cash home buyer to take your fixer-upper off your hands, you’ll have the money you need to invest in a project that’s more manageable. Because you won’t have to pay seller or commission fees, you’ll get the full value for your home.
Our process begins with a walkthrough and an offer within two to three days. Most sales take about a week from start to finish. We buy houses in any condition, no matter what level of renovation is needed. Because we provide all of our own financing, you won’t have to wait on third-party investors or lender approval to get the cash you need to move on with your life.
Sell Your House Fast
Whether you’re selling an ugly house, a house in need of extensive renovations, or an inherited house, Bill Buys Houses can help. We’ll offer a selling price that reflects the extent of the home’s current status. Although you won’t get the full price you would expect if selling your home after extensive renovations, you will get guaranteed cash fast. For a renovation project that’s become too much, the time saved is worth it.
Contact Bill Buys Houses Today
Are you tired of pouring time and renovations into your personal money pit? Let our team at Bill Buys Houses help. Contact us to schedule your walkthrough, or call us to request an offer at 651-270-9191.