4 Tips For Selling a Fixer-Upper Home
It can be tricky business to sell any home, but fixer-upper homes provide an extra challenge due to their state. A fixer-upper is any home that needs updating and renovating before it can be lived in comfortably. Because of this, not all fixer-upper homes appeal to many buyers who would prefer to purchase a move-in ready home. However, there are buyers who love having the opportunity to put their own mark on a home and make it fit their unique style and needs. Here is what homeowners need to know about selling a fixer-upper home to attract those buyers.
Lower the Price
Fixer-uppers often need a lot of work to be done as soon as possible for the home to be livable. All those renovations can add up quickly, which often means buyers will have a lower budget when buying the home. Keeping this in mind, homeowners should lower the price of their fixer-upper home to attract buyers and offset the expenses the buyers will have later on. After all, no one will buy a fixer-upper for the same price that they can get a similar home that doesn’t need any work done on it.
Hire an Experienced Agent
The easiest way for homeowners to help themselves is by hiring an experienced real estate agent. Agents provide a lot of advantages to sellers, but they are especially helpful when it comes to a tough sell like a fixer-upper home. Agents have many resources available to them, and one such resource is the Multiple Listing Service. This is a database of homes for sale that can only be accessed by agents where they can communicate with each other and try to help arrange deals between their clients. This helps agents locate buyers who are looking for fixer-upper homes.
Be Honest About Flaws
It’s no secret that a fixer-upper home is going to have its problems. Whether it’s a leaky roof or windows that won’t open, buyers who are actively looking for a fixer-upper are prepared to hear about the problems a home has. When selling a fixer-upper, it can be tempting to try to hide a home’s flaws to make it more appealing to buyers, but this is a bad idea. Lying about a home’s condition will get the seller into trouble later, because the home inspection will bring attention to anything the buyers can’t detect on their own, and this will result in distrust between the buyer and seller. It’s best to be honest about flaws from the beginning to create a good relationship between both parties and help the buyer create their plan for the home.
Highlight the Home’s Best Features
No matter how poor a home’s condition, there are always good features that the seller can and should share. Is the foundation solid? Is the roof new? Is the home considered historic? These are all things that homeowners can highlight in their home listing to help attract buyers. It can be easy to fall into the rut of focusing on the negative when it comes to a fixer-upper home, but sellers shouldn’t forget about the good features. Depending on the home, they may seem difficult to find, but every home has something good going for it that shouldn’t be forgotten.
Fixer-upper homes can be a difficult to sell, but that doesn’t mean that it’s an impossible task. Keeping these tips in mind can help homeowners market their home and find buyers who are up to the challenge of a fixer-upper.