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By Jason Penrose

Jason has been licensed since 1999, and is currently one of the top 20 agents in Arizona for homes sold.

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You’re standing in your kitchen looking at cabinets you’ve been meaning to replace for years, and now you’re selling, and the question finally has a deadline on it. Is it worth doing?

Most sellers treat this as arithmetic. Spend some money, get some money back, hope the second number is bigger. But that framing is what gets people into trouble, because a repair isn’t really a line item. It’s a decision about who you’re selling to.

There are two buyers, and they want opposite things from you. One wants to sign, move in, and never think about the kitchen again. The other wants your kitchen precisely because it’s dated, because that’s where the discount lives. Both are shopping right now. Both close on houses. The problem is they want opposite things, and you cannot hand them the same house.

Both buyers come with a price tag, and the two tags are wildly out of proportion. Zillow analyzed more than two million homes listed in 2025, testing over 600 phrases from listing descriptions against what each home actually sold for versus what it should have. Turnkey homes sold for 2.9% more than expected, and remodeled homes came in at 2.2% above similar homes that didn’t advertise updates. Meanwhile, fixer-uppers sold for 14% less than expected.

Sit with that gap for a second. Doing the work earns you low single digits. Not doing it costs you double digits. The downside is about six times the upside. That asymmetry is the single most useful fact in this whole conversation, and almost no seller walks in knowing it.

“You don't get to skip the repair. You only get to decide who sets the price.”

But the two pools aren’t the same size either, and that’s the part nobody tells you. A survey of more than 2,000 homeowners found 62% bought a move-in-ready home while only 28.1% bought a fixer-upper. That’s not a coin flip. And the smaller group isn’t holding steady, it’s wearing out. Given a do-over, 88% of fixer-upper owners say they’d change something, and better than one in five say they’d skip the fixer-upper altogether.

Zillow’s senior economist, Kara Ng, named the reason underneath it. When affordability is tight, the last thing buyers want is another expensive project waiting for them. Homes that are already updated can command higher prices because buyers can roll those costs into the mortgage rather than paying for improvements after closing.

That’s the whole mechanic. A finished house gets financed over 30 years. Your project doesn’t. The buyer has to write a check for it next month, on top of the down payment and closing costs they just cleared. That’s not a taste preference, that’s a budget. Which is why the fixer-upper keeps drifting toward buyers with cash to spare instead of buyers trying to get in the door.

Selling as-is is still a real, legitimate choice. It just puts your house in front of the smaller, thinner, more price-conscious crowd, at a 14% discount. Know that going in, you can price it. Assume otherwise, and you’ll be sitting on the market wondering what happened.

The repair you skip doesn’t disappear, it just moves to a worse room. Skipping a repair doesn’t erase it. It relocates it to the inspection report, where you’ll discuss it with someone who already has your house under contract and knows you want to close. That’s a very different conversation than the one you’d have with a contractor in your own kitchen on a Tuesday. You’ve lost the timeline, the price, and the leverage.

Sellers are catching on, but not fast enough. Realtor.com found 39% of sellers heading into this year expected to make a concession. Redfin found 46.2% of sellers who actually closed in May made one, the highest May share in their records, and up from 43.1% a year earlier. That’s a seven-point gap between what sellers expect and what sellers pay. The bill comes either way. You’re only choosing whether you pay it at your number or at theirs.

So here’s how to actually decide. Not by pricing out every project. By answering one question first.

Which buyer are you selling to?

If it’s the move-in ready buyer, the work isn’t an expense, it’s positioning, and the conversation becomes which specific things matter for your house at your price point in your neighborhood. Not everything. The things that buyer will actually notice and pay for.

If it’s the as-is buyer, that’s fine, and it can be exactly right when the work is big, the timeline is short, or the cash isn’t there. But then commit to it. Price it for that buyer from the first day, market it to people actually shopping for projects, and don’t act surprised when the offers reflect a discount you already knew about.

Either way, get ahead of the inspection. Know what’s in your house before a buyer’s inspector tells you, because the difference between finding it yourself and having it found for you is measured in leverage.

What doesn’t work is the middle. Half the repairs, full price, hoping nobody notices. The finished home buyer sees an unfinished house. The project buyer sees a price that doesn’t pencil. Nobody bites, the house sits, and then you cut the price anyway, with less room than you started with.

Pick a lane. Price the lane. That’s the whole strategy.

If you’re standing in that kitchen right now doing this math, don’t guess at it. Call or text me at (602) 738-9943, email me at Jason@ThePenroseTeam.com, or visit buyaztoday.com. Walk me through the house, and I’ll tell you straight which direction I’d take it and what I think it’s worth either way. That’s a better use of an afternoon than a contractor quote you might not need.

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