The Challenges Selling a “Ugly Home” in Indianapolis and How To Solve Them.
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When it comes to the homes we purchase at JAG Buys Indy Homes, there really isn’t a “one size fits all” property we look for but rather to solve an issue or challenge the homeowner is having.
Let’s say you get stuck with a house that has some major issues with it like a leaky roof, bad foundation or a completely outdated with old kitchen cabinets and no updates to the bathrooms.
These homes usually will not do well on the open market because they are going to be competing against much newer homes or homes that have had major renovations.
Also the issues with these homes being listed with a Realtor is that the buyer buying home will require inspections that may or may not catch issues that have to be repaired before the financing will be able to completed by the bank or mortgage broker that is assisting them.
Lastly, the home buyer in this market is expecting to have all the bells and whistles or upgrades to the home making it move in ready so they don’t have to think about the money they would need to spend with a home contractor in Indianapolis to fix anything at all.
With the homes in Indianapolis and the typical age being at least 50 years or older, the types of renovations to make it a comparable home that has been upgraded can be difficult and expensive.
The typical renovation for just an average sized kitchen according to HomeAdvisor can range on the low end at “$10,000 to $15,000 that may include may include painting walls, refacing cabinets, upgrading the sink, and installing a tile backsplash. The higher priced homes may go up over $30,000 including “installing custom cabinets, hardwood floords, granit countertops and high end appliances.”
With factoring in upgrades in the bathrooms, deferred maintance of your exterior roof, siding, windows, crawlspaces or foundations, you might have to spend from $30,000 to $90,000 depending on the home prices around you, the level of upgrades of the homes that have sold as well as your own capacity to complete such renovations financially and physically. These types of renovations can take from six weeks to four months to complete and sometimes are not worth your time and energy.
So how can we help?
Call us to consider selling your house to JAG Buys Indy Homes.
We pay cash and prefer to buy houses that have major issues but will consider homes that need just a little repairs. On average we can close within days, pay all closing costs so you don’t pay any out-of-pocket expenses.