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One of the questions I get all of the time is…
Well… that depends on a number of factors.
Some of the questions you need to answer will be personal… other questions will be strictly based on the age, size, & condition of the home.
First of all, if you live in the home, you will need a plan of action, once you sell.
If you currently live in the home you’re planning to sell to a builder, where are you moving to? Often times our home sellers will be cashing out to move into a newer home or saving money by moving in with family. For others, it’s an opportunity to travel, buy a boat, or a recreational vehicle.
Once you know where you’re heading, or if you’re already there… here are some quick questions that will help you determine if your home might be worth more as a South Tampa Teardown and if you should sell your house to a builder.
1. How old is the home?
The older a home is, the more likely it is to be a teardown, where a builder will be the high bidder for the property.
What we have found over the years, is that most of the homes we buy with our builder partners are over 40 years old. Owners of older homes can often get the most money by selling to a South Tampa Builder.
In other words… if your home was built prior to 1980… it is possible that you should sell your house to a builder.
2. What is the square footage & location of the property?
The smaller a home is, you guessed it… the more likely it is for the property to be a teardown, where a builder will be the high bidder for the property.
Different parts of South Tampa will have different thresholds for what is likely to be a teardown. As a rough rule of thumb, teardowns that are South of Kennedy, and in the Plant High School District tend to be smaller than 1600 SF. Homes North of Kennedy, or in the Robinson High School District tend to be smaller, 1200 SF or less.
That said, as the North of Kennedy area, Ballast Point Elementary District, and South of Gandy Area as a whole continue to get more popular we are seeing homes above 1200 SF sell to builders for strong, fair, prices.
The smaller the house… the more likely it will be that you should sell your property to a builder. To help you determine if the property is in the Plant High District… I’ve included a map of the school boundaries.
3. What is the condition of the home?
The more major repairs that have been deferred over the years, the more likely it is that the property will sell for teardown value to a South Tampa Builder.
Make a quick inventory… How old is the roof? How old is the HVAC (Air Conditioning) system? Has the kitchen been updated in the last 10-20 years? How is the structural system of the house? Are there termites? How updated is the electrical? The plumbing?
If these major systems haven’t been updated since the property was purchased you might be able to NET more money by selling to a builder.
You can’t know for certain until you have an offer for the property.
That said, before you spend thousands in repairs and updates in anticipation of selling your property… Before you agree to pay 5%, 6%, or even 9% to sell your property…. Why not get an offer… and find out what the lot is worth?
If you’re thinking you should sell your house to a builder… you might be able to put more money in your pocket with an offer from our team, and you won’t have to worry about paying for commissions, repairs, or any closing costs.
My name is Robert Wilson, and I am the Director of Dirt with EXIT Bayshore Realty in South Tampa. If you think you should sell your property to a builder in South Tampa… I can help get you a fair offer to sell your house fast in South Tampa. Call me today at 813-784-4199 or request your offer online at SouthTampaTeardowns.com
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