Should you rehab your house? What does it take? How to go about it? Is it worth it?
Some things to consider:
The average house needs 15-20k(Oklahoma) in updates to sell on the market. Most houses need an updated paint job throughout, updated flooring, landscaping, and, at least, 1 or more of the major systems (roof, hvac, electric, plumbing) needs repaired or replaced in order to sell the house for top dollar. This is for the average house – some require more, some require less.
Q. How much time do you have?
A. If you work more than 40 hours a week, have 2 jobs, or have small children requiring a lot of your time, it probably isn’t worth it to fix it up yourself. If you can pay someone to do it and can stay somewhere while the work is being done, that could be a possibility.
Q. How much time will it take:
A. Painting: 2-4 weekends, depending on the size of the house
Lay flooring: 1-3 weekends, depending on the size of the house
Landscaping: 1 weekend for basics, plus maintenance until it sells
Cleaning: on going until it sells
Systems repairs – depends on if its minor or major repairs.
Q. Are you allergic to fumes, glues, etc?
A. Paint has fumes, the varnishes and glues in wood & wood-type floorings, and this may not be the best for your or your families’ health.
Q. Have you done it before?
A. If not, just no. It will take 3-4 times as long and cost 3-4 times as much. Painting a house sounds simple. It’s not. Youtube DIY is not your friend here.
Q. Can you afford to buy the supplies in cash?
A. If not, don’t go into debt on a maybe.
Q. Is the house underwater?
A. If you’ll go to the closing and have to pay more than you have, don’t do it. There are specialists in short sales that can help you.
Q. Do you enjoy manual labor?
A. If not, you will hate your weekends until its done. You have funner things to be doing!
Q. Do you have someone to help you?
A. It is arduous and difficult to paint, lay flooring, do all the landscaping, repair systems on a house by yourself.
Whether or not to fix up and sell your house or not depends on your skills, time, and money available to do the work. Sometimes you can pay someone to do it and increase the worth of your house and sometimes not.