How to Sell an Old House That Needs Work

Is your home showing its age? If you’re ready to sell but your house isn’t in the best of shape, you may be wondering where to start. Should you sell your old house as-is or fix it up before selling, and which repairs are worthwhile for sellers? Read this guide to demystify the process of selling an old house.

Understand your buyer pool

Not everyone loves a fixer-upper. Understanding your prospective buyers will help you choose the right renovations for your older home.
● Most “as-is” buyers are professional investors. These include property flippers, buy-to- rent investors, and iBuyers. Selling a house for cash is the fastest way to offload a property, but understand the downsides and watch out for scams.
● Sellers marketing to homebuyers should learn about fixer-upper loans.

Choose your renovations carefully

Which renovations pay off when selling an older home? These are the updates that are worth the sellers’ investment.
● The most important things to repair when selling to homebuyers are critical issues like
the roof, plumbing, or electrical problems. After necessary repairs, focus on small improvements that create a positive first impression like new paint and light fixtures.
● If you are refreshing the kitchen, think about adding a new range hood to complete the new look and keep your home’s air clean.
● Avoid updates that don’t offer a return on investment. The money you’d spend on custom design elements, high-end upgrades, or repairing outdated elements is better used elsewhere.
● Not spending time and money on repairs is the biggest advantage of selling as-is. However, decluttering and organizing the interior and exterior, including eliminating pet odors, attracts higher offers.
● Most minor repairs are DIY-able for budget-conscious sellers. Reconsider DIY for repairs that require specialized equipment, building permits, or that are too time-consuming to complete yourself.

Prepare to list an older home

With the necessary work out of the way, you’re ready to show off your old home’s best side. Use these tips to list your older property for a fast and profitable sale.
● Make an older home feel modern with a neutral color palette, clean lines, modern accent pieces, and minimal clutter.
● If cleaning out an elderly parent’s house to sell, consider hiring an estate liquidator to quickly organize and sell your parents’ things.
● Get the wording right when writing a real estate listing for a fixer-upper. Highlight positives like a great location or open layout and use descriptive terms to create an emotional connection with prospective buyers.
Your home may be a little worse for wear, but that doesn’t mean you can’t get a great price for your older home. Assess the condition of your older home to decide if it’s worth fixing up to sell or if you’re better off selling as-is.
The Compean Group can help you achieve all your real estate goals. View our listings, please call 832-777-3904 today!

By: Katie Conroy