If you start driving through old neighborhoods in your city, you will start to notice that there are a lot of house that need work. For one reason or another the current owner just isn’t able to make the repairs. The unfortunate part about this is it makes it that much more difficult to sell. Do you want to stick a ton of money into siding, roof, windows, landscaping knowing you will maybe get 20% of that money back out?
So, that leads us into talking about how do these property owners go on with selling the property when it needs a significant amount of repairs on either the exterior or the interior? The first option would be to have them fix it up & sell with a Realtor. The second option would be to sell it to a we buy houses company like ourselves & we will take on the project. I will dive into more detail down below!
Remodeling a House in Appleton
If you are a handy person then this might be the best option to go. You will not have to pay a contractor to come up & fix up the house for you. The tough part about doing exterior remodeling to the house is that you will never get your money back out of it. For example: Say you spend $10,000 to put on a new roof. (Average is $8,400 in the area) You cannot automatically raise the price by $10,000 to account for this. A new buyer already expects the property to have a decent roof & it is just an added bonus that it is new. Realistically, you would be lucky to get $2,000 back out of it. Another example would be new siding. Maybe re-siding your house costed $13,000. A new home buyer expects a home to have siding on it, so you will be lucky to recoup little, if any of that money back out of it.
Just in roofing, siding and windows you could have $20,000-$30,000 stuck into your home. Then you have the fact that you won’t be living in the home to get use out of it, & a new home buyer is never going to pay you 20-30k more for those updates. Don’t even get me started on the fact that I didn’t take into consideration a furnace, air conditioning, water heater & landscaping. These are all things that cost you 6-7x the amount that you will get back in return for updating them.
Now, You may be asking yourself “Is my house really that great of an investment?”….
Selling Your House As Is
“What if I just called a We Buy Houses For Cash Company to buy my house as is?” Great Question!
Say you were to give us a call or submit our form down below on this page. Carter would reach out to have a brief conversation of what is going on & how we can help out. He will ask about the condition of the house & why you are possibly thinking about selling to get a good idea if we might be able to be a resource for you.
“Aren’t you just going to give me a low ball offer if my house needs all this work??”. That is the misconception that homeowners have about companies like ours. They don’t realize that when we improve a property on the inside & out, we can significantly increase the value. So what does this mean?
By significantly increasing the value of a home it allows us to make a profit. Let me give you an example to better understand:
123 Main St in it’s Current Run-Down Condition is worth $60,000 (Value Determined By Other Property Sales)
123 Main St Fully Renovated Home Value $110,000 – After $35,000 in Renovations
Our Offer to You: $50,000
This is just a very rough example I am using so you can see the difference in how we calculate our value & where our numbers actually fall. The real difference is only $10,000. But remember, that $60,000 you will also need to pay a Realtor commission on, title fees, & closing costs. If you sell to a company like ours we will pay for all of that! So after all those expenses & fees you realistically end up with about $54,000.
Now, you just have to determine if you have an extra $35,000-$40,000 lying around to update your property. And that price for us is very aggressive because we have our contractors who work for us full time. A normal contractor, if they are only doing a single job, would most likely be at about $50,000-$60,000.
How to Get an Offer
If you are interested in receiving an offer on your property so you can avoid spending the time, energy & effort remodeling it please reach out. Like I mentioned above, Carter will talk you through the process & answer any questions you might have about selling your house. There is no easier way to sell a property!
Fill out the form below or give us a call at 920-215-4201