While a renovation can be a great way to make a house more livable and may even boost market value, there are times when an attempt to “upgrade” an old home hits a major roadblock. Owners with grand aspirations all of a sudden find themselves in a tough spot and consider abandoning the project altogether. Is there recourse for selling when you’ve already begun the renovation? Yes, but should you actually take that step? Let’s review.
3 Reasons Why You Should Sell Your Winnipeg House Despite Being in the Middle of a Renovation
You Can’t Afford to Sink More Money Into the Pit
Most renovations go over budget. In some cases they go way over budget to the point that owners simply can’t afford to dig into savings or existing equity without feeling the pinch for months or years to come. In other cases, an owner may take an unanticipated hit to finances. In 2020 there is nary a household who hasn’t been (or currently isn’t) impacted financially by the COVID 19 economic shutdown. Many homeowners who began a renovation at the onset of the year were left with holding the bag without income on one fateful day in March or April.
Whatever the case may be, if you find yourself without the resources to finish a renovation that has already progressed to the point that the home is barely livable then it’s time to sell. But who in their right mind would buy a house in mid-renovation shambles? Yours truly. Call us at 204.222.0022 to discuss your options for quick sale, despite the condition of your property.
You No Longer Have the Help
You may have taken on a major renovation on your own and/or with help from family or friends who have a knack for such a thing. Should you or a key helper become physically unable to complete the work, you may be left without the assistance you need to get the job done without having to hire an expensive team of contractors. Alternatively you may have started the project with home renovation “experts” but soon found that you were not happy with their work even though they are maintaining their contractural obligations (leaving you with no recourse in claims court). Once again you find yourself at a crossroads where selling may be the best option. Call us at 204.222.0022 to discuss.
You’ve Simply Changed Your Mind
This may seem like a lofty reason, but it’s absolutely worth your consideration. Look to a relationship-gone-bad as an analogy. You can go to couples counseling but after months of attempting to repair your relationship you may simply conclude that the two of you are a bad match. Should you stick it out just because you’ve invested hours upon hours of couples therapy? Certainly not.
You began your renovation because you were not happy with the current state of the property. But as the project has progresses you may find that you are doing the renovation for the wrong reasons – attempting to fix something that was never right for you in the first place. There is nothing wrong with throwing in the towel – it’s not defeat, but a realization that opens the door for opportunity. Sell the home (despite its condition) and take the cash to put towards a house, condo, or other scenario that suits the life you’ve always dreamed of living. Don’t waste another day in a bad situation – call 204.222.0022 to sell.