Your House Has Too Many Repairs - What To Do!

If you are dealing with a house that needs more repairs then you know what to do with, you are probably feeling a little overwhelmed and don't know where to start. Luckily, you do have some options for different courses of action that you can take. This article is going to try and break those down for you so that you can go with the solution that works best for your particular situation, depending on the time and resources that are available to you. Let's go over them:

The DIY Way

Whether the house has been yours for years or was recently passed down to you, repairs to fix them can get expensive very quickly. However, if you have the skill set for the repairs that are needed, depending on how much time you have, it might be worth it to just fix them yourself. This is especially true for big ticket items like the foundation and roofing - since repairs for these types of issues can start to run upwards of $10,000. Another option might be to get a friend or relative who has the skill set to help you. If you do intend to sell the property, you want to make sure not to over improve - just fix whatever is wrong with the house and then move on. It can be hard to estimate what will actually add value and when you are just throwing money out the window.

Selling It With A Realtor

This is the method that we would suggest last because most "fixer uppers" that are listed on the market tend to attract low ball offers - which is likely what you want to avoid. However, it is still an option. The thing that sucks about selling with a realtor in a situation where you have a property that needs a lot of work is the fact that in addition to getting less for your property, you are also going to be required to pay a commission to your real estate agent on top of it.

Selling To An Investor

When you decide to sell to a real estate investor, it's true that an investor is not going to give you the highest price - but on the upside, they do make it incredibly convenient to sell your house and they are also going to make sure that you won't pay anything in fees. If you find a quality investor to work with, some of them can close in just a week! Of course, they also buy your property exactly as it is, which means you won't lift a finger to do any of the work. There are even some investors out there who will team up with you to do various partnerships where you supply the house and they will do all the work for you and then you guys go and list it with a realtor to put on the market together. In these cases it works out that you actually make more - of course this process takes a little longer because you have to wait to get paid but if you are not in any rush, it could be a desirable solution.