Question: What’s the biggest issue with selling my home traditionally?
Selling your home traditionally can definitely be beneficial when you’ve got everything ready for the gauntlet of inspections, walkthroughs, & appraisals - that may or may not come back in your favour.
The private home buying sale, however, is generally for someone looking to sell their home or a property quickly because of a difficult situation or financial hardship. They may have inherited the home, are going through a divorce, or just couldn’t keep up with the maintenance over the years.
With renovation & material costs at an all time high in Simcoe County, Durham Region, York Region and all throughout Ontario, the good old days of doing a “quick fix” to get your home ready for sale are gone.
That ‘quick fix’ will cost you much more than it used to. Thinking of renovating or redoing your kitchen before selling? The $30,000 - $40,000 price tag along with a six month renovation (that was only supposed to take 3 months) - may only give you a small return on investment. Not to mention the time & hassle of living through an intensive renovation!
According to this recently released article, major contractors are still slightly confused on what they can work on and what they can’t. That is scary if you’re a homeowner looking to list your “house for sale by owner”.
Buyers today are looking for turnkey properties because of the rise in cost for renovations. Most home buyers are buying at their max budget, which leaves zero left over funds to spruce up the place. Especially if there are services needing to be renovated or updated. These are big ticket items that can and will deter a buyer!
Here’s something to consider.
Upgrading electric baseboards or oil heating systems to forced air natural gas can be $20,000-$30,000 or more. Plus, associated renovations costs most often result in a 4-6 month wait period. Major Delays. That is something that you expect when selling your home the traditional way. To get a snapshot of other current renovations costs, we’ve created a renovations calculator. See exactly what costs are right now in the current real estate market.
Here’s the biggest problem with those delays. There is a chance that the market will turn and you could completely miss the current market values of your home if you choose to complete some of these tasks. It’s not worth the risk, especially in today’s real estate market.
Selling your home with a real estate agent, occurring major renovations costs, dealing with stranger walkthroughs / open houses and listing your home on the MLS is a major hassle.
As private home buyers, we buy houses quickly. Our process is much more simple than the old, traditional, methods. We buy houses as-is and in any condition. Which means you do not need to worry about taking on the additional costs and time of making improvements to your house. We’ll buy it now. If you want to get the process started of selling your home quickly to a private home buyer like us, simply click here.
In conclusion
Selling your home without a real estate agent has never been easier. We will make you a fair offer within 24 hours of assessing your home and we specialize in quick closings. We encourage you to NOT take on more costs or waste any more time selling your home in the traditional way.
