Should You Fix or Sell Your Vegas Home?

Sell or fix? This is a question asked by more Las Vegas homeowners than you may think. Whether to sell your home or fix it up can be the crux of your future in the city, and might force you to consider the pros and cons of each option. Your home is probably the biggest investment that you’ll make in your life, and major decisions having to do with it merit at least a few days of careful consideration and discussions with trusted friends and family. Choosing to fix your home is a great option, but not the right option for every home, or for every party. Selling your home can be as big of an investment as fixing your home, so don’t think that choosing one over the other will be easier.

If you’re not sure which route to take with your Vegas home, weigh the pros and cons of all of your options. Renting your home and downsizing is an option, too, but most people can’t fathom allowing strangers to live in the place they call ‘home.’ If this option isn’t for you, that’s fine! You still have the option to fix, or to sell. Whatever you choose, there are plenty of licensed professionals, including local real estate agents, that can help you decide what’s best for you.  

Fixing: The Pros

Fixing your home is the instinct of nearly every homeowner. If you choose to fix your Las Vegas home, you could be saving yourself some stress and frustration. Fixing your home means that you’ll be able to take your time, and search your local businesses for the best price for the services that you need. You’ll also have a chance to consider bids from contractors, and also to assess what repairs you may be able to make to your own Las Vegas home. Don’t get too hasty with the DIY, though – you may find that taking on some challenges around your home are best left to a professional. Fixes to your home might be finished in as few as two weeks, which makes your life (and schedule) much easier to manage. Fixing your Vegas home means that you’re going to have a better and stronger awareness of the ins and outs of your home, and have the opportunity to resolve any weaknesses, for example, leaky pipes, or an unsound foundation. 

Fixing: The Cons

Fixing your home is always a good idea, but this doesn’t mean that it’s always going to be the best option for you, or for your household. Fixing your home in Las Vegas always begins with an estimate. Many companies will offer free estimates, but you may also need to pay for one from a company that you trust. The money paid for the estimate may be applied to the cost of the repairs. The cost of the repairs to your home could be tens of thousands of dollars, depending on the necessity of the repairs, and the extent of the necessary work. Most repairs are done within a few weeks, but repairs could turn into renovations, and you could be living with a half-done home for months. This is a worst-case scenario, of course, but there are plenty of people with stories like this.

Selling: The Pros

If you decide that selling your home is a better option for you and your household, the great news is that you’re about to start a new chapter! This might coincide with another life change – a new job, a recent marriage, an adoption – but even if it doesn’t, it’s still a fresh start for new memories. The change of pace and scenery is also great for letting go of the stressors of your present home. The home you’re in, no matter how much you love it, comes with responsibilities that might overwhelm you, especially if you’re living in an older property.  A new home will have its own challenges, but you can rest assured that you’ll be redirecting good energy to your new home, and its endeavors. Plus, in today’s market, you’ll have no trouble finding a buyer for your property, even if it’s imperfect. A local real estate agent can help you find a new buyer for your Las Vegas home, or may consider buying it themselves. 

Either way, if you’re considering selling your home instead of fixing it, contact a real estate professional. They will know the market, understand the value of your home, and help you get the most for your money. In this position, you’re also welcome to discount your home to make it even more enticing for prospective buyers. Let your real estate agent do the heavy lifting of networking your house, and hosting open houses while you relax and focus on work, and enjoying your days off. 

Selling Your Home: Cons

Part of the reason that hiring a real estate agent is quintessential if you decide to sell your home has to do with the amount of money you’d receive in profit for your home. On average, agent-represented homes net $60,000 more than for sale by owner, and you’ll want in on that purse. If you don’t have an agent, you can still sell your home – but expect to receive much less. Considering that this decision hinges on whether or not it is worth it to make repairs, be prepared to accept a lower offer due to the cost of repairs for your home. Also, consider the state of the housing market: seller’s markets can ebb and flow, and you’ll always want to make sure that you are utilizing all of your resources. 

Fix Your Vegas Home or Sell It? 

Whether you decide to fix your home, or sell your home, make sure that you don’t rush to a decision, and that you consider all of your options. Even if fixing your home isn’t the route you want to take, it may save you some time and trouble. If selling your home isn’t the way to go, you might enjoy the next couple of years more than you may have expected. Take your time deciding, and get ready for a big change with either possibility.