Should you sell your Utah home as-is or make repairs?

by Blair Allen

When it comes to selling your Utah home, you may find yourself weighing the option of selling as-is versus making repairs. A recent study from the National Association of Realtors (NAR) highlights that 61% of sellers typically make at least minor repairs before selling. However, 39% of sellers opt to sell as-is due to various constraints like time, budget, or resources.

What Does Selling As-Is Really Mean?

Selling as-is means that:

No repairs will be made before the sale.
No negotiations will occur after a buyer's inspection.

This approach signals to potential buyers that they are purchasing the home in its current condition. While this can be a relief if you’re feeling stressed about repairs, there are trade-offs to consider.

Pros and Cons of Selling As-Is

Pros:

Less Stress: You won’t have to worry about making repairs or updates.
Faster Sale: If time is tight, selling as-is can speed up the process.

Cons:

Lower Selling Price: Homes that are updated typically sell for more, as buyers often prefer move-in-ready properties. According to a Zillow report, homes with minor renovations can see a return on investment (ROI) of up to 70%.
Fewer Offers: Less interest from buyers may result in fewer offers and a longer time on the market.

"While easier for you, the final sale price might be less than if you invested in repairs and upgrades."

Market Insights

Interestingly, 56% of buyers surveyed are willing to purchase a home that needs work. This is largely due to ongoing affordability challenges and lower inventory levels in the market. According to the Realtor.com Housing Market Report, the inventory of homes available for sale is still below pre-pandemic levels, creating opportunities for sellers.

Thus, while selling as-is may potentially yield a lower price, there might still be interested buyers eager to take on renovation projects.

How an Agent Can Help

Making the right decision about whether to sell your home as-is or invest in repairs is crucial. A good real estate agent can assist you in:

Comparative Market Analysis: Understanding what comparable homes in your area have sold for.
Identifying Neighborhood Trends: Knowing what updates your neighbors are making.
Setting a Fair Price: Guiding you in pricing your home appropriately regardless of your choice.

Once you've decided on the route to take and established an asking price, your agent will:

Market your house effectively.
Highlight its best features, such as location and size.
Help buyers see the potential rather than just the projects.

Bottom Line

Selling your Utah home without making any repairs is possible in today’s market, but it comes with trade-offs. To ensure you’re considering all options and making the best choice, have a conversation with a local agent.

For more insights and assistance with your real estate needs in Park City, Salt Lake City, and surrounding areas, visit Utah Digs.

For additional reading on home selling strategies, check out these resources: