Home Selling in Floyds Knobs>Question Details

Britney, Other/Just Looking in Pekin, IN

what would be the best thing for me to do if I can't afford any updating or repairs on my house?

Asked by Britney, Pekin, IN Mon Nov 30, 2009

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The answer to this depends on what needs to be done.

If minor repairs are needed, then do what you can to take care of the most obvious issues. If major repairs are needed, you'll need to price the home accordingly and disclose to potential buyers that these items need to be corrected.

With no funds, your focus should be on doing things that require more labor than dollars, and there's a lot you can do to make a home look more appealing to potential buyers that will cost you nothing (or close to nothing).

The best thing you can do is to make sure all surfaces are clean and neat, and remove all excess clutter. This may mean doing some painting (check the 'oops' bin at your local home improvement store for paint at a bargain). Scrub all sinks, tubs, showers, toilets, counters, and floors, including the grout and baseboards, and put away anything that doesn't add appeal to your home (i.e. countertop kitchen appliances, cosmetics on bathroom counters, toys/games, etc). A microfiber cloth works wonders on most surfaces, and since it's washable you won't need to go through rolls of papertowels and gallons of spray cleaner. Also, move all furniture so it creates an easy to follow traffic pattern through your home, and if you have too much furniture, move it to the garage or other storage location.
0 votes Thank Flag Link Tue Dec 1, 2009
Don't do any updating, and perform only the most essential of repairs?
0 votes Thank Flag Link Mon Nov 30, 2009
Another option might be to talk to some real estate investors in your area. Most investors will purchase homes that need work at a discount and the make the needed repairs before placing the home on the market. Just keep in mind that investors are looking to make a profit too, so they won't pay retail price.
Web Reference: http://www.phgbrokers.com
0 votes Thank Flag Link Mon Nov 30, 2009
Britney.............after following the advice below...........the best thing to do is PRICE IT RIGHT !

By "right" I mean somehwhat below "market value"......that will take into account, and compensate for the work that needs to be done, that you can't afford to do.
Buyers will buy when they perceive value, even if the home isn't updated.......make sure the idea of value jumps out at them with the right pricing!

Good luck................
Debbie Rose
Prudential NJ Properties
0 votes Thank Flag Link Mon Nov 30, 2009
Also make sure you or your agent is knowledgeable on financing options for a home that needs reno work. Look into 203k renovation loans and educate the buyers.

Sean Dawes
Web Reference: http://www.SeanDawes.com
0 votes Thank Flag Link Mon Nov 30, 2009
Clean, clean, clean.

Pack up everything you don't need and put it in storage or somewhere else.

Price it correctly...

0 votes Thank Flag Link Mon Nov 30, 2009
So you can try and sell it?

If so, then I would say declutter and paint. A bucket of neutral paint does wonders over older walls. Also declutter as much as possible. Less shows more.

Sean Dawes
Web Reference: http://www.SeanDawes.com
0 votes Thank Flag Link Mon Nov 30, 2009
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