With the housing market continually improving in the Lexington area, many people who were reluctant to place their home up for sale are now moving into the market. Some people, however, are afraid to place their home up for sale because it is considered a “fixer-upper.” These homes are just as desirable on the market today, especially if you take the time to do the right thing to make it more appealing to buyers.
Tips For Selling A Fixer-Upper Home
- Right Agent. When you are looking for an agent to market and sell your home, ask up front if they are experienced in selling homes that are in need of repair. Make sure that you work with one that has the knowledge how to sell this type of home.
- Honesty Matters. Make sure that you are completely honest with your real estate agent and any potential buyers about repairs that have been made or ones that need to be made. Feel free to explain how the disrepair occurred. Honesty will always be your best selling tool.
- Right Price. You need to be very cautious about how you price the home. If you expect someone else to make the repairs, you must account for that in your price. This can be difficult because many people become emotionally attached to their homes, but it is important to price it fairly for all parties.
- Curb Appeal. You want to take the time to make the exterior of your home and your property look appealing. Clear away any debris, dead branches, underbrush or anything else that would diminish the appearance. A clean canvas will always improve the appearance. Wash the house down with a power washer if possible. If you can afford it, put fresh mulch down in the flower bed areas.
- Interior Cleaning. Regardless of the repairs needed on a home, people will not purchase a home that they consider unclean. Do an ultra-cleaning on the house. Wash walls, de-clutter, steam carpets, scrub grout. Wax floors if necessary and shine appliances. A clean home will sell for more money and in faster time then one that is seen as messy.
- Promote Potential. The house may be appealing to some if they can “envision” the changes they want to make. While remaining completely honest, marketing the home as having the “potential for a gourmet kitchen” or something similar will spark creativity.
- Market-Market-Market. The more people that you reach, the more potential you have to find a buyer. Follow the advice given to you by your real estate agent and utilize social media to broadcast the availability of the property.
- Remain Diligent. Some people will be lucky and sell their home in a week. Others will find that it takes several weeks, or even months to move the property. Remain diligent and keep the property looking its best for when that perfect buyer arrives.
The key factor in any sale is price. All other factors, no matter the importance, are secondary to whether or not your property is priced wisely. In this instance you must stay focused on what your home is actually worth compared to others in the area. Oftentimes a seasoned real estate agent is vital here. If your property isn’t necessarily worth as much as homes in the area that have been updated, make the buyer imagine the future worth of your home after they improve it. Great marketing strategy, eye-catching curb appeal and a savvy real estate agent can make a world of difference in these sales. There are so many beautiful historic homes throughout Lexington that may need updates in order to accommodate modern preferences, but there is no reason why you cannot advertise the charm and good bones of a property and not get your money’s worth. If you have any questions about selling a fixer-upper or selling in general, please do not hesitate to contact us, or consult our Definitive Guide to Selling Your Home.