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Selling an Older Home

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Selling an Older Home

The Top 5 Ways to Sell an Older Home - Older homes have great attributes that many newer homes lack. After all, most older homes have personality and character that many buyers are looking for when they purchase their next home. There is, however, a certain stigma associated with older homes that can sometimes make buyers nervous. Structural concerns, as well as concerns about major repairs (such as the roof or heating and cooling system), may deter a buyer from purchasing your older home.
That’s why you need these 5 tips! Take advantage of them before you list your older home to increase your chance of a quick sale, and to get the right price for your home:

1.  Get an inspection
It’s typically the buyers who get an inspection on your home, but if your house is in good condition and structurally sound, taking the initiative could definitely increase your chances of attracting potential buyers. Although the cost of an inspection is small compared to what a buyer is paying for a home, a buyer might not want to risk the cost in case there is a large repair that will make the house not worth it. By investing in an inspection right off the bat, you can assure them that the house is in great condition.

2.  Make major repairs before listing
Although some people like the challenge of renovating an older home, most people want a home that is move-in ready. Unfortunately, the return on investment of large repairs isn’t huge, it’s still worth the cost, because it could mean the difference of selling your home quickly versus having it sit on the market for too long.

3.  Highlight the time period
The charm of an older home is usually thanks to the attributes based on the period during which it was built. Although you do want to make relevant updates to your older home, stage the home so that it has the right feel for the year it was built. Staging your home to match the period doesn’t mean that you have to have a house that looks “old”, but by using modern pieces with an older feel, you can highlight the time period of the house and add to its charm.

4.  Price it right
It’s hard to divorce yourself from the emotional connection you feel for your home, and those emotions often lead to a higher asking price than your home is really worth! So, enlist the help of real estate agent to ensure that your house is properly priced. If you price your home too high, it will scare potential buyers off – but if the house isn’t priced high enough, people will assume there is something wrong with it. (This is actually a tip that works for both older and newer homes!)

5.  Purchase a home warranty
The final way to encourage a quick sell for you home – as well as to put the mind of potential buyers at ease—is to purchase a home warranty. A home warranty is a special type of insurance policy that covers major repairs within the first year of purchase for the buyer. Since one of the major concerns for a buyer of an old house is having to make large repairs, purchasing a home warranty is a sign of good will and offers peace of mind for the buyer to purchase your older home.

 


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