You might think that selling a house that needs repairs will be difficult. However, buying fixer-uppers is our specialty! Learn more about what we can do for you in our latest post!
If you want to sell a run-down, Toronto area house, one of the last things you will likely want to do is spend money to make it look nice. It doesn’t always make sense to repair a house before selling it. There are no guarantees that you will see a return on your investment, so in essence, you could be throwing your money away for nothing. It the repairs are cosmetic, you could repair with your style in mind, completely alienating someone with different tastes. All your hard work could actually be what causes someone to pass over your property! Don’t make repairs until you are 100% certain they will be worth it!
[See the video below of a house we bought that needs repairs.]
How Much Will It Cost To Fix?
Don’t try to price it all out yourself, contacts a few contractors to get estimates on the needed work. Some sellers will choose to have a home inspection done before selling. This lets you know the exact condition of your house before buyers start doing inspections of their own. This will give you better negotiation power and let sellers know that you aren’t trying to hide anything. Also be careful when choosing a contractor to work with. Make sure you check references and do your research. We’ve all heard stories of contractors disappearing with deposits. It’s very common for renovations to cost more and take longer than expected.
Which Repairs Are Critical?
People are more inclined to buy a Toronto fixer-upper property if the repairs are more cosmetic. If you want to find a broader range of buyers, make sure that a person could at least live in the house is they chose to and make repairs while living there. It can be a bit more difficult to find a buyer for an uninhabitable house.
Consider Your Selling Options
There are a few things you can do:
- You can pay to fix and list the house
- You can sell it directly to a fixer-upper specialist, such as GTA House Buyers
- You could try to list it as is
If you decide to fix and list, make sure you know how much you will have to pay out of pocket. Aside from the repair costs, listing your Toronto house will require marketing, cleaning, and commissions all be paid.
GTA House Buyers is very interested in buying Toronto fixer-upper properties. We love to make the repairs and revitalize the house for new buyers. There is never any obligation or hassle when you receive an offer, learn more about what a direct sale can do. It might be the solution you have been waiting for!
Trying to list a run-down property can be difficult. When people see a photo of a damaged house, they are very quick to move on to the next listing. Not everyone is comfortable with spending a fortune on a house, only to have to spend more time getting it ready. When trying to sell your Toronto fixer-upper property, one of the best decisions you can make is to sell it to a professional investor directly.
Get It In Front of The Right People
There is a whole market out there of people looking for houses to fix-up. Just because your property needs repairs, doesn’t mean it isn’t sellable. You simply need to find the right buyer for it!
Attend networking events in your area for investors, real estate professionals and general business matters. Let people know about your property and that you are offering it at a great price! The more people who know about your house, the more likely you are to find a buyer for it. Talk to everyone, you never know who could be in the market for a new house!
Showcase The Potential
Help people to use their imaginations when viewing your home. If you are listing it, include an artist rendering of what the home could look like. Showcase the property’s potential in all of your marketing.