One of the biggest questions for sellers is whether they’ll lose money by selling their home as-is. It’s true that selling a property without repairs might lower the sale price, but the impact isn’t always as significant as you might think. Here’s a breakdown of what to expect:
- Repair Costs Add Up Quickly: Homes often need multiple repairs, from roof leaks and plumbing issues to outdated electrical systems. Even cosmetic upgrades like paint or landscaping can cost thousands of dollars. When you sell as-is, you avoid all these expenses.
- Market Value vs. Repair Costs: The market in San Diego is competitive. Even if your house is sold at a slightly reduced price, you save the money you would have spent on repairs. For many homeowners, the difference in sale price is smaller than the total repair costs.
- No Agent Fees or Closing Costs: Many cash buyers who purchase homes as-is, like San Diego House Heroes, cover the closing costs. You’ll also avoid hefty real estate agent commissions, which typically take 5-6% of your home’s sale price.
- Time is Money: If you need to sell quickly, waiting to complete repairs can cost you more than the difference in sale price. Holding costs such as mortgage payments, property taxes, and utilities can add up while waiting for repairs to finish.
How much equity is your time and peace of mind worth? Do the math below to see how much you’d make if you sold your house on the market:
