ArticlesShould you commit to a Dallas home renovation or sell up quickly?

Should you commit to a Dallas home renovation or sell up quickly?

If you live in a state like Dallas, then you are likely to find that things move very quickly here. The pace of life is frantic, to say the least, and this can leave you with a lot of thinking to do in a pretty short space of time. When it comes to selling your home in Dallas, you likely have two scenarios.

One, your home sells without a hitch, and you walk away happy. Two, market forces see you spend a needless amount of time making small renovations and changes to satisfy potential buyers (who then go and buy from elsewhere, anyway). Does this sound familiar?

If it does, then you might wish to think about the following. This should (hopefully) help you feel more confident about the decision you make moving forward in the near future.

What if I want to renovate my property?

Then you are in the speculate to accumulate process.

At this point, you are basically looking to spend money on your home to get more money down the line. This will cost you lots of money, and you will likely need to focus on both the aesthetics and the structure. The latter, though, is more important.

Why? Because you could spend thousands on an aesthetic clean-up that looks awful in the eyes of a buyer. Instead, go for that ‘showroom’ look that makes your home look like a clean slate with immense potential. Focus your investment on the things that you can actually sell as a positive. For us, this means focusing on things like:

  •       Key appliances, such as your plumbing, air conditioning, heating system, etc.
  •       Your application appliances, such as ovens, refrigerators, and shower systems
  •       Your properties ‘key’ rooms, such as the living room, bathroom, and kitchen

You might find it easier to sell your home if you strip it all back to a more basic look. Personal accents and touches might look great to you; to a buyer, it might put them off. Why? Because they will see it as double work. Work spent removing what you have fitted, and work spent replacing everything. With a home that has a more ‘blank slate’ aesthetic, you make it easier for a buyer to build on top of what is there.

This makes it more likely that a buyer will offer you a full(er) price closer to the asking rate that you originally asked for. That is very important as it can make sure that you get back the absolute maximum that you should. You need to, though, compare the cost of your renovations to the extra money it would add on at the end. If you end up spending more than you need to on renovations, you might not recoup the cost in the revised asking price.

What if my property is in a poor condition?

Of course, you might be in a situation where your Dallas property is dilapidated and in need of lots of renovation work. You then have to decide if the cost of renovation is worthwhile. You should spend some time researching what properties in your area have gone for when they have been in the condition yours is in. Then, compare that to the sale price of what others receive when their home sells after being improved.

You might find that after all the investment and cost, you do not make much back. You also need to factor in the money that goes out in terms of commissions, fees, and (potentially) taxes. Focus on this as it could play a big role in making sure renovation is actually the cost-effective solution for you that it sounds like.

What if I want to just move on quickly?

Of course, you are absolutely within your rights to just move on from the situation quickly. It can be tough to do this, absolutely, but there could be several reasons for this, including:

  •       You cannot afford to go ahead with an expensive home renovation in Dallas
  •       You are on a short leash in terms of the budget you can commit to making changes
  •       You have to sell the house quickly to satisfy some form of debt or financial issue you face
  •       Your home has to be sold quickly because you are time-limited and need to move on ASAP
  •       Personal circumstances mean that you need the cash injection to sell a property quickly

If that happens, then you will be happy to know that you can simply sell your house for cash. Yes, compared with traditional methods, you make less than you do with a home sale. That being said, you also:

  •       Get to move on from the house very quickly, avoiding months of back-and-forth negotiation
  •       Receive a cash lump sum that, once you remove fees and commissions, can still be sizeable
  •       Avoid having to putting your hand in your pocket to make renovations to your property

If you want to go ahead and sell quickly for cash, then you should look at one of the many trusted home buyers in Dallas Fort-Worth. You might find, for example, that a company like Favor Home Solutions would be worth negotiating with.

Really, you need to sit down and evaluate your circumstances before you do anything else. Look at what works best for you, and then commit to that process. Give yourself time to think and to look at the circumstances, and then move forward accordingly.

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