One of the biggest concerns homeowners have about selling their house as-is is the fear that they will lose a fortune. You have probably heard that you should always renovate before selling to maximize your return. But here is the truth that most real estate agents will not tell you — the math does not always work in favor of renovating, especially when you factor in time, stress, and out-of-pocket costs.
The Hidden Costs of Renovating Before Selling
A kitchen renovation can easily cost $25,000 to $50,000 or more. A new roof might run $8,000 to $15,000. Foundation repairs can be anywhere from $5,000 to $30,000. And those are just the big-ticket items. When you add up paint, flooring, landscaping, staging, and other cosmetic improvements, the total can be staggering. Then you still have to wait three to six months to sell, continue paying your mortgage, insurance, and taxes the entire time, and pay a real estate agent five to six percent commission on the final sale price.
Running the Real Numbers
Let us say your home is worth $200,000 in perfect condition. You might spend $40,000 on renovations and another $12,000 on agent commissions, plus $6,000 in carrying costs while you wait for it to sell. That is $58,000 in expenses, leaving you with $142,000. Now compare that to selling as-is to Offer Now Michigan for $155,000 with zero repairs, zero commissions, and zero carrying costs. In many cases, the as-is cash offer puts more money in your pocket.
The Value of Your Time and Sanity
Beyond the dollar signs, there is the value of your time and peace of mind. Managing a renovation project is stressful. Dealing with contractors who do not show up, projects that go over budget, and repairs that reveal even more problems — it takes a toll. When you sell as-is to Offer Now Michigan, you skip all of that. You get a fair offer, choose your closing date, and move on.
Find Out What Your As-Is Home Is Worth
The best way to know whether selling as-is makes sense for your situation is to get a cash offer and compare it to the cost of renovating and listing. Offer Now Michigan provides free, no-obligation cash offers with no pressure to accept. Call us at 810-425-5961 to find out exactly what your home is worth in its current condition.