Delayed repairs can hurt your home in the long run. Even small signs of deferred maintenance can cause a buyer to doubt the overall structure.
What Is Deferred Maintenance?
Deferred maintenance occurs when necessary repair work is delayed for an extensive period of time. These small, disregarded tasks eventually turn into a bigger issue. Homes exhibit signs of this with broken windows, visible mold growth, peeling paint, and ripped window screens. While it is often rewarding, homeowners become overwhelmed when smaller projects fester into a larger problem.
Traditional home sales require regular maintenance and upkeep. When selling your home on the traditional market, a real estate agent will not let deferred maintenance slide. Selling a home as-is does not require the homeowner to perform maintenance. The proper solution to managing this issue varies based on different homeowners’ needs.
The Consequences
Unfortunately, the cost of deferred maintenance ends up hurting homeowners more in the long run. The cost of maintenance grows when it becomes delayed. For homeowners experiencing financial instability, dealing with this issue before it does more damage is not always possible. Emotionally and financially, renovation is a dramatic and stressful ordeal for anyone. Disrupting your home physically while managing financial burdens is a stressor on any family.
Selling Your Home With Deferred Maintenance
Commonly, real estate agents and home buyers seek the path of least resistance with their investments. Homes without maintenance issues or looming stressors is the norm for the traditional real estate market. Even smaller forms of deferred maintenance cause a buyer to doubt the overall wellbeing of the home. While some cosmetic issues may seem trivial, it can cause doubt about the sanctity of the structure. The threat of issues that may not be visible in the first walkthrough can turn many buyers off from making a deal.
However, delaying proper maintenance is an all encompassing issue that many homeowners do not have the ability to deal with. Whether this be a lack of funding or time to dedicate to this large project, some people are looking to sell their home as-is.
Home buyers that purchase homes as-is usually purchase with cash offers. These homebuyers purchase the property without external financing. This gives some home buying companies the power to purchase homes with deferred maintenance or other damages, and help out stressed homeowners. For those with overwhelming renovations looming over their home, selling for cash can be the most efficient option.
