If you need to sell your house in Houston that needs expensive repairs, I have some good news and some bad news.
On one hand, this is one of the best times in recent history to sell your house. Low mortgage rates, lots of buyers moving in and few homes for sale make for a very favorable time to sell.
On the other hand, this is one of the worst times to make repairs to your home. Labor and materials costs have been skyrocketing which means repairs are now much more expensive. Therefore, if you want to learn how to sell your house in Houston without sinking thousands in expensive repairs, read on.
Why Your House May Need Expensive Repairs Before You Sell
There are many reasons why your Houston house may need repairs. Everyone’s situation is unique. But in the many years we buy houses in Houston, we have seen some common patterns emerge.
Inherited House
One of the most common reasons why your house may need significant repairs is that you inherited a house in Houston in its current condition. Most likely, the house was vacant for many years and was not maintained.
Facing Foreclosure
Another reason for substantial repairs is that you might be having financial difficulties and facing foreclosure. Financial troubles can be very stressful and resources are scarce during these times. So you can’t afford to make minor repairs and they turn into major repairs.
Going through Divorce
When your marriage is on the rocks and you are going through a divorce that becomes the main focus in your life. If you and your spouse are looking to move on, there’s no incentive to keep up the current house. So repairs get neglected and they turn into significant costly projects later.
Great Time To Sell Your House
Now is a great time to sell your house in Houston. People are moving to Texas from other states by the tens of thousands and many of them are choosing the Houston area. Some people will rent for a time and then buy while others choose to buy a home straight away.
Mortgage interest rates contribute to very strong demand for homes. They are still very low but are beginning to rise. This is causing Buyers to rush to buy before interest rates go up even higher.
At the same time that demand is strong, the inventory of available homes for sale is historically low. In 2021, the Houston area had 1.4 months of inventory available. A normal and balanced real estate market has between 4 and 6 months of inventory.
So if you’re looking to sell, now is a great time. But what about the repairs your home needs before going on the market?
Repair Costs are Skyrocketing
The cost of labor and materials for home repairs have been skyrocketing due to inflation. According to the National Association of Home Builders, “the price of all goods inputs to residential construction (including energy) has risen 14.5%.”
Increases in the cost of repairs are not the only issues when making repairs to your home. Covid messed up the supply chain for lower cost options in sheetrock, countertops, appliances and more. This means that now you have to select more expensive materials because lower cost alternatives are just not available.
The run up in prices does not seem to be slowing down anytime soon. Inflation has been impacting the cost of everything from food, energy, gas prices. This increase in costs of living will be reflected in higher prices contractors will charge for home repairs.
So what should you do if you need to sell but can’t afford the skyrocketing costs of repairs?
How to sell your house in Houston without costly repairs
If you are in a situation where you want to sell your house in Houston, Cypress, Katy or Spring without the expensive repairs, your best option is to sell your house as is to a professional investor.
How do I sell my house as is to an investor?
Unlike regular buyers that want a home that’s “move-in ready”, professional investors love houses that need repairs. They will buy your house as is in its current condition. You don’ t need to worry about making the repairs and you can leave the headaches of skyrocketing materials and labor costs to them. In fact, you don’t even have to clean the house. You can just leave it as it is and a professional investor will take care of everything.
Especially if your home needs MAJOR repairs like foundation repair, roof and siding replacement, re-plumbing, selling to a professional house buyer is the best option. When your home needs those types of repairs, it is very difficult to finance. But reputable and professional house buyers can pay cash for your house in Houston so they don’t need financing.
What price can I get for my house that needs repairs from an investor?
You might be thinking that while selling your house as is to an investor sounds good, it might not bring you a price that you’d be happy with. After all, if the professional investor will take on the cost of these repairs, won’t he discount the cost from the price he offers?
Professional investor will discount the cost of the repairs from the offer you get. But it’s important to realize that the cost of those repairs to a professional investor is much lower than your cost if you did them.
That’s because professional house buyers have relationships with contractors to whom they give lots of work throughout the year. So they get a better price which means your offer will be higher too.
Why Sell Your House in Houston As Is to Signature House Buyers
In your search for reputable and professional house buyers you will find that the investor space is unfortunately riddled with con artists, scammer and shady characters. Selling your house as is to an investor is a great option if your house needs substantial repairs but you still need to find a house buyer you can trust. Here are 6 top reasons why you should consider selling your house to Signature House Buyers:
- Get more cash for your house because we can afford to pay more. Signature House Buyers renovates and holds properties long term so we can pay you much more than a house flipper or middleman.
- ZERO commissions or fees. When you sell to us, you won’t have to pay any commissions or fees of any kind and the offer you see is the offer you get. No smoke and mirrors.
- Don’t fix a thing – not even clean. When we buy houses in Houston, Cypress, Katy and Spring, you don’t have to fix a thing or clean the house. You can just move on and leave the repairs and cleaning to us.
- Decades of experience buying Houston houses. We have been buying houses for decades and have an impeccable reputation in the community.
- Family Owned Business. When you sell to Signature House Buyers you are selling to a family owned company, not some nameless, faceless corporation.
- Community focused. We are on a mission to improve our community one house at a time. We want to provide a nice, healthy and clean home for our friends and neighbors to live in.
