What is the best way to sell my old house?
Selling any house can be difficult, based on the market. But if you have an old home and want to attract young buyers in their 20s and early 30s, you will need to take some extra steps to sell your house.
Initially, you’ll want to assuage the concerns of those young buyers about maintaining a home that was built a long time ago. Next, you’ll need to showcase the features that have the most interest to modern young couples and families. The following eight tips won’t demand you to spend a lot of money, and they could help you get an early offer for your old house.
Pre-inspect your home
An evaluation will help identify if there’s anything that definitely must be done before putting the house on the market. In addition to a comprehensive home inspection, it is advised that homeowners get the heating and air-conditioning system cleaned and examined. Experts recommend having septic systems pumped as this gives peace of mind for potential buyers. You can include the service contract or reports with your marketing materials.
Buy a home warranty
A home warranty would cost you about $400 to $600 and comforts potential buyers that they won’t have to deal with a major repair expense in their first year of ownership.
Offer a possible expansion or renovation plan.
Most younger buyers don’t always understand that everything they see can be changed with a renovation; many of them do not see the potential in the long run. If they like the home based on factors like the location, the schools, and the general style, they can be convinced to buy if they can see the possibilities that come with a renovation.
Sellers can pay for simple designs that show some remodeling options that would work efficiently with the house construction and its lot. It is recommended that sellers find out about any permit problems with an expansion such as setback or height limitations or wetland and incorporate that information with marketing materials.
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Provide renovation loan information
Younger buyers who are looking at houses that were built 20 or 30 years ago are most likely to look at the kitchen and baths and want to renovate them; younger buyers want their homes to look modern. A seller can provide information about a loan with their marketing materials to show potential buyers that they can cover renovation costs in their mortgage.
Listing agents should prepare a cost evaluation of a typical mortgage and an FHA 203(k) loan to prove the availability of the loan program and to show potential buyers what the mortgage payments would be depending on future renovation plans at various price points such as $7,000, $23,000 or $60,000.
Offer a credit for repairs.
Even though repair credits are frequently part of the negotiating procedure, if you are aware that some things will need repairing, you can provide information about the credit upfront to potential buyers, so they know they won’t have to pay for a new furnace as soon as they move in.
Lighten and brighten your home
Keep it as simple as possible; there is no need to complicate this step: Eliminate your personal and sentimental items; that way, potential buyers could imagine themselves living in the house.
Highlight neighborhood amenities
Realtors recommend considering what young buyers are most interested in and then market the property accordingly. Highlight the location near commuter routes or public transportation, swimming pools, tennis courts, a gym, or nearby shops and restaurants. If your house has an excellent location within a community close to the elementary school or a park, you should ensure that’s highlighted in your marketing strategy.
