Selling your home the traditional way, through a real estate agency, comes with a lot of expenses. The most costly of these expenses are having to do home repairs before selling. Real estate agents will have someone inspect the home, at a cost to you, for needed repairs before they will even think about putting it on the market.
This is something that you don’t have to contend with if you go with a cash house buyer though. When you sell to a cash house buyer you can offload your property quickly and as is, which means no excessive fees and costly repairs. To get an idea of how much you could end up shelling out for home repairs, let’s look at the most common issues home sellers face and how costly they can be.
Roof repairs are one of the most common expenses a seller will have to pay for, especially if there has been any type of damage. Repairs can run from making minor repairs from a water leak to having to have the entire roof redone. You can end paying anywhere between $500 to over $10,000. Not to mention how long a roof repair can sometimes take. When you are selling your home to a cash buyer, they take on the task of having to do the repairs.
A home that turns out not to be electrically safe after being inspected won’t sell until the issue is fixed, if you take the traditional selling route. An electrical fault, no matter how small, is not something that you can fix yourself. It requires a licensed electrician who signs off on the work done. Problems with the electrics in a home can cost anywhere between $300 to $16,000 if the house needs a complete re-wire. You see this a lot in old homes.
Water Heater Repair/Replacement
Water heater issues are another common problem that home sellers can be faced with. Over time, water heaters can be damaged from mineral deposits building up and from general use. Most homebuyers won’t want to buy a home that has a known water heater issues. This means the seller needs to sort it out before selling. Water heater repairs can start from $500 and replacing a water heater can start from $1,000.
Another common issue that comes up with a home inspection is broken pipes. If you kept up on your pipe maintenance while living in the home, this may not be an issue. But, if you had a burst pipe or pipes that are deteriorating, they will need to be repaired or replaced. Repairing a basic drain pipe can cost you between $500 to $600. If it’s a pipe on your main sewer line, the cost shoots up to around $2,500.
Repairing Damage from Water Leaks
Water damage is another issue that will put buyers off. If the home inspection has found issues with water damage or mold forming from damp, it will need to be fixed. Depending on the cause of the damage and the damage itself, this kind of repair can run from $2,000 and up. Damage from a roof leak means having to fix the roof as well as any floors or walls that have water damage. If mold needs to be removed as well, it can cost up to $6,000.
Other issues that come up with a home inspection are problems with the foundation of the home. For example, areas of the foundation can crack and shift if they are constantly exposed to swelling soil from heavy rain. Repairing the foundation can be a complex issue and can end up costing a seller up to $40,000.
A lot of home sellers find that they can’t afford costly repairs found after a home inspection, which can be frustrating. This is why many people will use a cash house buyer to sell their homes instead of the traditional way. It cuts out expensive repairs, long wait times for repairs to be done, and the costs of home inspections and other fees related to using a real estate agency. If you are looking to sell your home quickly, give our cash house buyer team a call today!