Evaluating Repair Needs for your Property
When dealing with real estate at any level, it's hard to overestimate the importance of accuracy in evaluating the cost of repairs and which will return your value over the long run!
(1) If you are preparing to sell your home, there may be repairs required to maximize the offers you receive. You may have been "living with" conditions that do not seem important to you, but which might cause a prospective buyer to re-think his offer. You may be aware of issues that you just haven't gotten around to repairing, but you know that they will limit your chances of selling at the best price. But how do you know which repairs or upgrades will pay off in actual increased price -- or how much money you will need up front to complete them?
(2) If you are planning to buy a home, you might have found exactly the place you want, but have found that it has some condition issues that you don't feel you can live with -- and can't get the seller to pay for. Will you have to abandon the place you really prefer to buy, or is it worthwhile to plan for some out of pocket costs you really didn't anticipate?
(3) If you have found an investment property to buy, you need to realize that the best chance for maximizing your profit when you sell is to make good decisions when you buy! Is that "fixer-upper" something that you can repair and flip at a good profit, or will it turn out to be a money pit instead? Are you able to evaluate and complete the repairs yourself? Do you know what upgrades will appeal to the average buyer enough to overcome any minor flaws that may remain? (For more information and other questions to ask when buying investment property, see our "Investing in Rentals" page.)
(4) If you can't decide whether to remodel or to sell and buy another home, the cost of any needed repairs to your current home will be a big factor in which best suits your needs! Remodeling baths and kitchens can be especially costly, and if those are your current home's biggest failings you might be wise to find a place that has the features you want already included. If staying in your current location is the most important thing to you, it might be worth the added cost -- but you need to know in advance what those costs will be to make an informed decision!
So how do you learn what you need to know to make those decisions?
We can help with that!
Our company (and our family!) is fortunate to have on our staff a real expert in the art of evaluating and bidding repairs. Randy White has a full and varied real estate background, but has also been in the construction business for many years, including nine years as the owner of a construction firm in Breckenridge, Colorado. He brought his expertise back to Texas and has since headed our maintenance and repair division, supervising crews as they keep up our management properties. He especially enjoys consulting with property owners and prospective buyers about how best to meet their goals with the greatest result and the least cost.
Randy will be happy to visit with you about your property needs, and to provide a free evaluation and cost breakdown for any work you may need to have done, whether or not you use our real estate services. His bids are generally right on target, and his experienced advice can lead you to the right path to achieve your property goals. His crew can follow through on large or small projects, from simple repairs to major remodeling.
Give Randy a call at 214-228-0709, or contact him by email to set up a time to discuss your needs.