4 Tips For Selling Your Fixer-Upper Home
Selling any type of home can be difficult, but homeowners with a fixer-upper home may feel like it’s impossible. Fortunately, this isn’t true. Fixer-upper homes may require a little extra love when selling, but if a homeowner knows what they’re doing, they should be able to find a proper buyer. Here are some of the most important tips homeowners need to know when selling their fixer-upper home to give it as many advantages as possible.
1. Lower the Home’s Price
Fixer-upper homes require extra money in order to actually fix them up that is unnecessary when buying a move-in ready home. Because of this, buyers expect that the price of the home will be lower in order to compensate. After all, there are very few buyers out there who would even consider purchasing a fixer-upper home for a price that could get them a move-in ready home down the street. In order to set the right price, be sure to consult a real estate agent who can help select one that will still make the seller money without putting off buyers.
2. Be Honest About the Home’s Flaws
All fixer-upper homes are going to have some problems that homeowners may want to try to sweep under the rug. However, this is a very bad idea. Trying to hide or even actively lie about faults the home has is the easiest way to ruin a relationship with a buyer. If a Wood Buffalo new home buyer is intent on buying a fixer-upper home, they understand that flaws are part of the territory and expect to come across problems. Being open about the home’s flaws can help better prepare a buyer for what they will need to do to fix up the fixer-upper and help them make a more informed decision, so sellers should never try to hide these things.
3. Spotlight the Home’s Best Features
Even though a fixer-upper home requires work to get it into perfect condition, it still has parts of it that are desirable to buyers. While some sellers may think that any flaws immediately outweigh the positives, this isn’t necessarily true. Here are some of the different features that buyers love to see:
- The home is historical.
- The home has some sort of new feature such as windows, a roof, floors, etc.
- The home is located in a great neighborhood.
These are the types of features that help make buyers consider a fixer-upper home. Be sure to put a spotlight on the home’s good features so everyone who comes to see it knows all of its best aspects.
4. Consider All Offers Seriously
Fixer-upper homes aren’t quite as desirable as move-in ready homes, so sellers shouldn’t expect a bidding war or even a lot of offers. Because of this, homeowners need to seriously consider every offer they do get. Homeowners may also discover that some the offers they do get are using loans they aren’t familiar with, such as a VA loan or USDA loan. Fortunately for the seller, these loans are nothing to be afraid of, and they shouldn’t be written off because they aren’t the traditional 30-year fixed-rate mortgage. If a seller is unsure of any type of loan a buyer is using, they should consult their real estate agent for the answers.
Fixer-upper homes may not be as in-demand as move-in ready homes, but there is a market for them. Keeping these tips in mind can help sellers give their home the advantage it needs to stick out from the competition and find the right buyer.