There are many advantages to owning and living in an older home. The rooms are often more spacious, with higher ceilings and larger windows. Even the property where the home sits may be considerably larger and offer more green space for the homeowners to use and enjoy.
But when the time comes to sell an older home, the advantages may seem to fade when subjected to the intense scrutiny of prospective buyers and their agents. Those who own an older home that they plan to sell may need to use a different strategy and these success-oriented tips can help.
Be proactive about the condition of the home and costs associated with living in it
Sellers of older homes often find that prospective buyers are more hesitant to view and make offers on homes that are decades or more older than most of the home listings they must compete with. This hesitancy is often due to concerns about the potential costs that might be incurred if the older home is in need of updates or repairs.
Sellers can help to alleviate these concerns by having a pre-listing home inspection performed. The results, including any repair made to address inspection issues, can be a proactive way to dispel buyer fears about buying a potential money pit.
Since prospective buyers may also feel that an older home is sure to be very inefficient, sellers should also consider providing the utility history for the previous year.
Market to the buyers who are most likely to be interested in an older home
Another proactive tip for selling an older home is to determine who the most likely buyer might be and then find a way to market to them. For example, prospective buyers who would like to live in an older home might be interested in antiques, so it could be helpful to advertise the home in antique shops and flea markets where these buyers might spend time.
Offer appropriate seller credits to address any issues that will not be fixed
If problems are found during the pre-listing inspection that the seller does not wish to address, or later during the buyer's home inspection, sellers may want to consider using a seller credit at closing to address them. Taking this action will allow buyers to have the work done to their liking, as well as help to keep the purchase transaction moving forward.
Selling an older home is a bit different than selling a more recently constructed house. To learn more about the home listings and get the help you need, consider working with a real estate professional in your area.