Do you own a home and are looking to sell? If so, there’s no doubt you’ve heard that you should do some remodeling before putting it on the market. However, what if we told you it’s better to sell for cash versus on the market? Today we will discuss what upgrades help sell a home, and why you should consider selling for cash instead.
When Preparing A Home For Sale, there are certain things that people want remodeled when they’re looking to buy a home. Let’s take a look at the top 5 upgrades buyers look for.
Bathrooms
Remodeling a bathroom costs upward of $10,000. This figure includes a new bathtub, the tile surrounding it, toilet, vanity, sink, fixtures, and flooring. Sometimes you can save some money by simply re-glazing the tub rather than replacing it.
Kitchen
A minor kitchen remodel costs around $15,000. Spending this amount will update about 30 feet of cabinet re-facing, a new oven and stove, sink, fixtures, flooring, and laminate countertops. The price will vary depending on the quality of supplies you use. It may get a little cheaper, but could easily cost more.
Landscaping
The first thing a potential buyer will see is the outside of the property, and curb appeal makes a big difference. A landscaping upgrade can cost up to about $5,000, depending on how far you go with it. However, if you lay rock or mulch and new sod, as well as put new plants in the ground you’re easily looking at spending this much.
Upgraded Windows
New windows are a big selling point, as this tells the buyer the home will be energy efficient. Just keep in mind that buying only 10 windows that are 3ftx5ft will cost around $10,000. While the cost will be recuperated when the home sells, it’s a big out-of-pocket expense for the seller.
Exterior Improvements
As we mentioned, the buyer will first see the outside of the home. In real estate, curb-side appeal can be everything. When preparing a home for sale it’s a great idea to apply new vinyl siding or have the house painted. The cost of these repairs will vary depending on how big the house is and which option you choose.
Selling For Cash Versus On the Market
Now that we’ve discussed what upgrades help sell a home, you can see that if you have an older home that needs updating you are probably looking at a lot of out-of-pocket expense. Rather than sinking more money into the home you should strongly consider selling it for cash. There are many companies such as McCright Properties LLC based in Omaha, NE that buy homes “as-is”. Such companies do not expect you to remodel any portion of the home, and they’ll give you the CASH value for it.
This is a great option considering that when a property needs updating new buyers will try to go lower on price. Also consider the fact that a home may sit on the market for months. If you choose to go with a cash sale, you not only save the expense of updates, but it’s a much faster way to sell the home.
In closing, it’s up to you how you want to market your property. However, when you consider the cost savings (from remodel fees to realtor fees) you’ll realize that the cash option is more appealing!