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To Repair or Not To Repair

Posted on October 30, 2013

Couple in office signing contractual documentsIf you need to sell your Northwest Florida home, but know it is in need of repairs, you are understandably struggling with the decision of whether or not to repair the issue.

While selling the home “as is” and making this headache someone else’s problem might sound attractive, it comes with drawbacks. First off, don’t think problems that can’t be seen will go unnoticed. Thorough inspections are the name of the game these days and buyers are savvy. Repairs that are perceived as costly, even though they may not truly be a large expense, will also scare buyers off. Homebuyers looking to finance the majority of the home purchase, in other words those without a lot of cash on hand, may also be scared off by the prospect of a large unfront expense after closing.

So, what are your options? Lower the sale price of the home to account for the repairs, so that it does not sit on the market. Or, if the return will prove cost-effect, make the repairs and enjoy a higher sale price. Just be sure you have weighed your risk against your reward.

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