Money In The Bank – Or In The House?

Are you trying to decide between saving money and fixing up your home? Maybe you want to save money for college, work toward a big purchase, or build up your rainy-day fund.

Whatever the case, you’re not the only one who’s had to choose between putting extra money in the bank or using it to fix up your house.

At Mitten Made Properties, we’ve worked with a lot of Michigan homeowners who had to decide between saving for something they really cared about… or making repairs to their home. (Not that you don’t care about your roof or your furnace, but paying for these things is definitely not as fun as buying a new boat.)

The good news is that there’s usually a solution, and we’ve put together some tips from our years of real estate experience in Metro Detroit.

Make Urgent Repairs

The first thing that needs to be done is to make the urgent repairs. We’re talking about water leaks, structural damage, HVAC problems… things that are going to get worse with time and possibly damage other aspects of your home. If these things aren’t fixed now, they will end up costing a fortune down the road.

Consider a Side Job

In today’s world, there are a lot of different ways to make extra cash, from taking online surveys, to grocery shopping for Shipt, to driving for Uber or DoorDash. Those are just a few ways to supplement your regular paycheck that can help build up savings or to put toward home repairs.

Apply for Scholarships and Financial Aid

If you’re trying to save for college, the good news is that most schools offer scholarships and financial aid. And you never know what you’re going to qualify for! So it’s definitely worth applying for everything you can.

Sell to a Professional Homebuyer

Another option is to sell your Metro Detroit house as-is for cash to a professional homebuyer. That’s what we do over at Mitten Made Properties. Then, you can start fresh in a home that doesn’t need immediate repairs – and maybe even bank a little something in your savings account! In fact, if you give us a call at (248) 883-3340, we can make you a fair cash offer and close in as little as two weeks! You pick the closing date!

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