You’re at a loss for words. Sure, you own an older property that’s been on (and around) the block for while, but you’ve priced it low and have yet to get an offer or at least close the deal on a sale. You don’t want to give it away, but at the same time you don’t want to sit on it for much longer. What are you to do? For one, you need to take a good hard look at why the property may not be selling, and then you can take action.
5 Reasons Why You May Not Have Been Able to Sell Your Older Home and What You Can Do About It
1. The Curb Appeal Isn’t All That Appealing
The cliche about first impressions is a cliche for a good reason – it’s consistently true, especially when it comes to the sale of a house. If prospective buyers and buyer service reps walk up to a home exterior and landscape in disarray they will turn the other way, even if only mentally at first. They may feign interest out of obligation (they drove all that way from St Vital after all) but they will have already formed a strong opinion and taken a big step back in the purchase decision funnel. Step outside and take a good hard look at how others may see your entire home exterior. If it gives you pause, follow these 6 affordable steps to improving the curb appeal of your home.
2. A Hot Mess On the Inside
The next thing you need to see through the eyes of a prospective buyer, is what your home looks like on the inside. If you have prospective buyers and agents come through when you haven’t taken the time to clear away clutter and clean the walls, halls, floors, cabinets, tables, steps, doors, porcelain, and window panes then you strain the buyers senses to the point that all they want to do is retreat. After attending to your curb appeal, step back in and walk from room to room and ask yourself if you can make each one look better. If (likely) so, follow these 5 cheap and easy steps to improving the interior of even an old and run down house. In addition, pay attention to interior air quality and room temperature when buyers or agents are about to arrive. Make sure the space is warm in the winter and cool in the summer, adjusting your AC, HVAC, and/or ceiling fans accordingly. You want prospects to be comfortable from the moment they step in.
3. The Home is Simply Too Rundown
All of the curb appeal updates and interior decluttering/cleaning in the world cannot save some properties. If the cost to repair damage to items such as plumbing, electrical, insulation and so forth is so high that the estimate of doing so nears the market value of the home itself, your chance of selling your house on the traditional market is little to nil.
4. You’ve Made Upgrades Only You Appreciate
Many people make upgrades to their home not only to improve their quality if life (as they see it) but to increase the future resale value of the property. If you’ve renovated your kitchen or bathroom, you have probably accomplished that goal. But if you installed a swimming pool in the back yard, there is a good chance that the rest of the Winnipeg population won’t appreciate your hope that global warming will render the city an all-season outdoor swimming destination. All they see is a big headache that may cost them a fortune in maintenance and upkeep without the payoff. Any upgrade that is too personal or quirky yet costly to remove can impact buyer interest.
5. Your Home is in a Bad Location
There doesn’t have to be bullets whizzing by your windows to deem a neighborhood a bad one. There are many things that can make your community and thus house within less desirable to buyers. For one, there may be planned development in the area that will change the status from quaint family community into a mixed industrial/commercial zone that will invite in undesirable traffic and noise pollution. Perhaps a new power line or highway will be coming up behind your property, or a wave of foreclosures have stretched across the area like an epidemic. While there are steps that can be taken to mitigate the loss of buyer interest for a home in a bad location, there is less resource, at which point, the conclusion below may be your best and only choice.
Conclusion – Today’s advice may make a difference and help you sell your older home. But in some of the scenarios, especially for homes in disrepair and those with addresses in an undesirable postal code, you will have little recourse. That’s why we’re here. 5 Day Cash Offer will take the house off of your hands, without any regard for the above “turn offs” and pay you market value in cash, and often within the same week of our very first discussion. Contact us today to find out how.