When we were first starting out, one of the initial goals for the company was to help homeowners with houses that were in such bad shape they were almost unlivable. I had driven up and down the streets of San Diego, seen properties in disarray, and knew something had to be done, so I put our name out there and eventually got some calls. The first was from a woman named Ingrid, who, like many people, had fallen on hard times. Her home was in desperate need of repairs, and when I went to walk through it, I had an uneasy feeling in the pit of my stomach because I knew the house was unsafe.
Ingrid was in her late 60s and living on Social Security, but neither she nor her husband had enough income to address the repairs. She even joked that the house was “one big earthquake away” from falling down, and if that happened, Ingrid said she would slap a For Sale sign on the lawn with the words, “For Sale: Some Assembly Required.”
Luckily, it never got to that point. I bought the house for a price we both liked, and I even paid for the movers to help her with the transition. Five years later, I’m still meeting people like Ingrid, and I’m always so proud to work with them.
Just How Bad Is It?
If your house is in need of major repairs, there’s a chance that no buyer will want it. Imagine being in their shoes and paying hundreds of thousands of dollars for a place that will need maybe a hundred thousand dollars more in repairs. Buyers will see a home in bad condition and immediately walk out because there’s one around the corner that doesn’t need the work.
But even if they wanted to buy your place, there’s another problem.
Most lending institutions won’t loan money on properties that need major repairs because they make for poor collateral. This is just another stumbling block when you’re looking to sell your property that’s in need of a little tender, loving care.
The Cost of Repairs
Since every house is different, it’s hard to give an exact number, but I’ve seen a lot of properties and I can tell you that most of the homes need more repairs than the owner initially realized.
Here’s a breakdown of some common fixes I see:
- Foundation Repairs: In California, the foundation is very important because of the earthquakes. The average cost for these fixes ranges from $5,000 to $,7000.
- Roofing: This is one of the most costly repairs or upgrades a property owner can make, and while the average fix costs about $12,000, the price can easily jump up to about $25,000.
- Electrical Rewiring: Having bad or old wiring in a home is a fire hazard. Electricians are expensive to begin with, but rewiring an old home, depending on size, can run $8,500 to $20,000—and a large house with difficult access can make the job run upwards of $30,000.
Our Goal When We Work with You
We’re not only driven to make sure you get the best cash deal for your home, but we’re also dedicated to revitalizing communities. Many homes in San Diego need drastic repairs, and when they go undone, the neighborhood suffers. Since the beginning, we’ve been beautifying communities, and that’s just part of why we’re one of the most trusted names in Southern California. When you work with us, you can rest assured that we’re going to restore your home to its original beauty.
How to Get Cash for Your San Diego Home
Our four-part process is easy and effective. First, you submit your information. Then we contact you with a CASH OFFER within 24 hours. Once you accept the offer, we schedule a day (often within a week’s time) for closing. And lastly, your home is sold and you have cash in hand! So what are you waiting for? Instead of sinking money into your San Diego home, call us today and get out from under those looming repairs!Views: 14