Anonymous wrote:
Anonymous wrote:It often is smarter just to price accordingly, rather than than mess about with allowances or to renovate yourself. Be clear in the MLS listing that the house is being sold as-is.
We renovated right after buying our current house. We were glad that the previous owner had not renovated, because it let us choose the cabinets, finishes, and such like.
I would never buy an "as-is" home unless it was offered at a substantial discount. We purchased a vacation home "as-is," but it was an estate sale following someone's passing, and it was heavily discounted because the sellers wanted to unload it quickly. We ended up investing about $80,000 in renovations, and while we may have saved $50,000 overall, it didn’t feel worth it to us. I’d rather buy a fully renovated property and roll the $50,000 difference into a 30-year mortgage.
In our case, the vacation market we were in was at the beach, where inventory was extremely limited, so we opted for the "as-is" property because there were no other options available at the time. For the original poster (OP), how is the market in your area? If there are other renovated homes available, a discount on an "as-is" property may not be as appealing because you're competing with move-in-ready options. Most buyers aren’t looking for a project—they just want something they can move into right away.
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