Cons of Renovating House to Sell

You probably have seen the shows on HGTV. They start off with a distressed, old, abandoned home, and turn it into this angelic amazing piece of art. That is what most sellers envision when they think about renovating their personal property, prior to selling it.

People see the before and afters in a matter of 30 minutes and feel the illusion that its just that easy to renovate a property. The problem is, this is not the case! There are many obstacles and financially burdensome risks that come with construction of real estate. Here are a few reasons why the average seller should not try to flip their home in Pittsburgh.

1. Low Budget

Nothing looks worse than a house that is 85% completed. You see the gorgeous hardwood, new light fixtures, paint, and new bathroom, but an old laminate countertop kitchen awaits the buyer as they enter the kitchen. These can actually harm the sale more than help it. In todays Pittsburgh market, there is so much construction, that the competition is fierce. If you don't have the ability to put great finishes to the property, it will most likely sit unless it is priced at a discount.

2. Unexpected Expenses

When it comes to construction, something always goes wrong! You open up a wall and find bad electrical wiring, the contractor doesn't finish the job, someone cracks the countertops during installation, there's always something. It is important to anticipate these added expenses, and have cash on hand to deal with them. This can be very harmful to a seller if there are no additional funds to take care of these issues, which would make them sell it half finished.

3. Contractors

Contractors can be a life saver to a renovation job, or an absolute nightmare. There's been many stories of contractors doing awful work, stealing, and taking initial deposits to never show back up. If you don't have proper agreements, and don't have a contractor you are comfortable with, it can be very hard to manage a renovation project or not be aware of what to look for.

At the end of the day, renovating your own home can be amazing and a great experience. You can also get top dollar when selling your house in Pittsburgh. It is also important to consider these risks and evaluate if it makes sense to go through all that. It is a massive commitment of time and money. Many times it makes sense as a seller to alleviate these concerns and sell your house for cash. That way the buyer can purchase the home as is without any additional repairs or updates needed.

Everyone is in a different situation when it comes to selling your home, it's all about weighing the pros and cons!