So many homeowners mistakenly believe they must renovate their properties before selling. You might think that the more you invest in your home, the more ROI (return on investment) you will receive. Do not fall for these four other common misconceptions about updating your home before listing it on the market:
- Buyers want the house move-in ready
- It will stop buyers from trying to negotiate
- It will cut down on marketing costs
- ROI on remodels is guaranteed
While these statements are true in some cases, you may walk away with the same amount of money without doing all that work.
Misconception #1: Buyers want the house move-in-ready
Sellers mistakenly believe that every buyer wants a move-in-ready home. But that is not the case! Some buyers are actually looking for a property they can put their own stamp on.
Potential buyers already have an idea of what they want their house to look like, and they are probably already planning on renovating it or changing a few things.
Far too many homeowners spend money on renovations and upgrades, only for the new owner to change details to suit their preferences. Just because you anticipate a return on your investment for your updates does not mean more money in the end. Potential buyers may not see the changes as adding value because they plan to renovate the home to their taste anyway.
When selling off-market to property investors like Simply, you do not have to play the guessing game of renovating to appeal to potential buyers. We always make the highest as-is, cash price offer for your home.
Misconception #2: It will stop buyers from trying to negotiate
Investing in renovations should save time and money when it comes to negotiations, right? Unfortunately, even if you do pour funding and sweat equity into sprucing up your home, buyers will still probably attempt to negotiate the price. Whether your home is immaculately kept or has seen better days, listing your home on the market with a Realtor means you will spend time in negotiation with buyers.
Especially if your home needs repairs, you would be better off selling your property as-is, for cash. You could do quick fixes to your house, aiming to list it for a higher price, only to have the inspection reveal structural issues that could plummet the price of your home. Selling your house as-is, off the market to Simply is a smart choice that could save you time and money.
At Simply, we purchase homes off-market for cash, and we guarantee we will not waste your time haggling over the price of your home. Our team works to ensure the entire process is simple, transparent and that you get the highest price possible...no negotiations necessary.
Misconception #3: It will cut down on the marketing costs
If you do a few renovations here and there, the house will sell itself, right? Unfortunately, investing in renovations does not mean you can skimp on marketing.
Even if your home is in pristine condition, you will still have to go through the process of staging and scheduling showings. You will also have to keep your home clean and organized to appear to buyers, and you will have to schedule your time at home around showings.
This is not the way it has to be, though! When you sell your home off the market to Simply, you do not have to worry about marketing expenses. You do not have to stress over keeping your home tidy to impress potential buyers, nor do you have to arrange your schedule around when your Realtor needs to show your house.
Here is how it works: One of our Simply local experts will visit your home, ask some questions and take some photos of the property. Then we will send you our free, no-obligation offer, which we strive to make as high as possible.
Misconception #4: ROI on remodels is guaranteed
So your carpeting has not been updated since the 90s, and your walls could use a new coat of paint…time to roll up your sleeves and pour some sweat equity into the property, right?
Many people are under the impression that you are guaranteed to increase your home's value and skyrocket your ROI if you invest in renovations. However, this is not always the case.
The truth is, you will potentially walk away with just as much, if not more, money if you do not do the work. It all comes down to time, so do not spend your weekends pulling up outdated carpeting and rolling paint on walls or even pay people to do that. If you are a homeowner who needs to move as soon as possible, selling your home "as-is" will allow you to close on a faster timeline and for more money.
Ditch the reno plans, sell to Simply
Contrary to popular belief, just because you invest time and funds into renovations does not guarantee you will walk away with more money on closing day.
Especially if you need to sell your home for top dollar sooner rather than later, you may not have time to fix up your property, stage your home, schedule showings, and wait for the right buyer to come around.
If your home is outdated or needs repairs, there is a better option! You can sell your house as-is with Simply, with no showings, no cleaning, no repairs necessary. We will ensure you get the highest off-market price possible and close on your timeline.
All you have to do is give us your address, and within 30 seconds, we will let you know if we are interested in your property.