Selling a House in 2019? Why You Shouldn’t Care Much About Remodeling Before Selling
You probably want to sell your house in 2019 and are looking to choose between the option of selling it as is and remodeling. Well, judging from an investor’s standpoint, the best option is heavily linked with the current trends in the real estate world. Here in this piece of article, we’ll try to explain the trending factors of today’s American real estate environment and how they affect the selling of houses. While this article could serve as a starting point on getting proven advice on selling your house in 2019, it’d also be brilliant to talk to a real estate agent for more on what works for the present market.
Firstly, about half a decade ago, home values were on a steady increase and the interest rates remained reasonably low. These elements encouraged a very healthy remodeling housing market because sellers were sure that they’ll recoup the cost of remodeling when the house is finally sold. The general belief back then is the simple fact that taking care of the major renovations the house needs will put more money back in your pocket.
In 2019 however, reports from top real estate outlets such as Zillow, Freddie Mac and a host of others suggest that home values are not gaining as much as they used to, mortgage interest rates are on the rise and fewer homes are selling. While remodeling your house before selling could boost its chances of getting off the market, recouping the money spent on renovations could prove difficult after the sale.
At this point, you’re probably begging the question “who’d buy my old and torn house the way it is?” This shouldn’t be a source of worry, all you need do is a little bit of Googling and the likes of HomeVestors, Viktor Rybachuk and Alexander Romanov, co-founders of Iwillbuyhouse will pop up.
In Romanov’s words, the selling of not-so-good-looking houses shouldn’t be difficult for anyone willing to do so.
“In a very competitive market with very few people willing to cash in on houses without renovations, we buy ugly houses for cash without any closing costs on the part of the seller” Romanov affirmed.
Experts claim that the remodeling business is set to slow down as we progress into the year. This is due to increased consumer spending which in turn make renovating a house very expensive. Although the prediction isn’t said to be a permanent one, given the current economic trends, mortgage interest rates, and home values, it’s advisable to look for interested investors who would offer cash for your house no matter its state.
While you might want to touch one or two departments of your home before selling, a complete overhaul could prove very bad for business in the long run, and as stated earlier, you can seek the services of a real estate agent in your locality for more succinct advice before selling your house.