Express Homebuyers is in the business of paying cash for houses and allowing home owners the ease of selling their house fast. Many of the homes we purchase need a lot of work, beyond simply cosmetics, in terms of repairs, upgrades and renovations. Once we’ve completed those renovations, the house goes back on the market. And very often these houses sell for top dollar. Buyers are paying a premium for a beautiful, turnkey home that doesn’t require any additional work. They can move in, unpack and hit the ground running.
Who wouldn’t want to buy such a wonderful house? Well, the truth is, not everyone can afford the beautiful home of their dreams in the perfect location, especially if they have to endure a bidding war and end up paying significantly more than the listing price. Fortunately, there are other ways you can get exactly what you want.
Many home buyers are afraid of buying an ugly or outdated house, even when it’s on the perfect lot in the perfect neighborhood. My recommendation is to give that unattractive house a second chance. You can save tens of thousands of dollars if you’re willing to hire a contractor yourself and convert it into the house of your dreams. The key point to remember is EVERYTHING regarding a house can be changed and/or altered, EXCEPT its location. EVERYTHING!
If a house doesn’t have hard wood floors and you want them, have them installed. If the rooms are small and you feel closed in, open up walls. If the kitchen and bathrooms need renovating, have them renovated. It is actually that simple!
Good contractors do exist. To find them, ask for referrals from friends and family and check with the National Association of the Remodeling Industry. This Old House offers 8 Tips on Hiring a Contractor. USNews.com shares 18 Tips for Finding Reliable Contractors too. Walk the house with your contractor BEFORE you place an offer on it to get a better idea of what can be done and at what price. Click HERE to download your FREE Pre-Purchase Considerations Guide compiled by Moore Construction Group to help you identify problems before closing on a property (and preferably before even making an offer).
Furthermore, your house purchase is generally contingent on a home inspection, (at least is should be) so you’ll have the opportunity for a licensed home inspector to evaluate the structural components, interior and exterior elements, plumbing and electrical systems, and HVAC systems. This inspection will give you knowledge of what you may have to contend with beyond the simply cosmetic renovations.
Armed with that information, you can negotiate over the outdated home that’s been sitting on the market for awhile. “Negotiate” is the key word here. You want to buy it at a price that makes sense for you, given the amount of money and work you’ll have to invest to bring it up to current market standards.
Buying a fixer-upper isn’t the easiest or fastest way to get the home of your dreams, but if you’re willing to work a little and wait a little, you can get a customized dream house for less and create a good amount of equity in it as well.
If you own that fixer-upper house and you’re not finding home buyers who are willing to tackle the renovations, call Express Homebuyers today at (877) 804-5252. We pay cash for houses in any condition, regardless of the amount of renovations needed.
Tracy Kay Griffin is a member of Express Homebuyers Design Team. She was the Series Designer for HGTV’s “Get It Sold,” a Guest Designer for HGTV’s ” My First Place” and the Lead Stager for Washington DC’s premier staging company, Red House Staging & Interiors.