If you're looking to sell your house as a fixer-upper, there are things you should know. There's certainly no shortage of homebuyers who want a good deal, but the amount of work that needs to be done can turn potential buyers away.
The extra effort required is well worth it. However, as many clients are interested in purchasing a property, you need to be more intentional. With the right approach and the proper listing, selling your home as a fixer-upper can be easy.
This article will give you an overview of preparing your home for sale and what information is important to highlight to attract buyers.
What Is A Fixer-Upper House?
A fixer-upper house is a home that has fallen into disrepair. It could be due to several factors such as neglect, natural disaster, or just general wear and tear that has not been addressed. When someone buys a home that needs repair, they will usually pay less for it than they would for its total market value because the buyer will incur the cost of repairs.Ways To Sell A Fixer-Upper House
If you're trying to sell a house that needs some work, you may be worried it won't sell—but don't be. You can attract homebuyers by taking the right approach and presenting your home in the best possible light. Here are things to do to sell:1. Price It Right When Selling
When trying to sell a fixer-upper, it can be tricky to price it competitively. After all, inexperienced buyers might not understand what a home needs and how much those things will cost. At the same time, experienced buyers are likely to have seen many similar homes before yours, so they'll know if your asking price is too high.To get an accurate value for your home's current condition, consider hiring a professional appraiser and real estate agent — both of whom you can check out here. An appraiser will give you a clear idea of how much money you can expect from your home sale. Likewise, an experienced real estate agent will use their knowledge of local market trends to help adjust that figure for maximum profit.
2. Know-How Much To Invest
If your home needs renovations, you should know how much you'll invest in them before you put it on the market. You should also make sure this value is included in your asking price. If you don't know how much to budget, you can ask the help of your listing agent or realtor.Although they may not give you an exact amount, they'll help point you in the right direction. You could also try talking to a contractor or even a real estate lawyer.
3. Get A Professional Inspection
One of the first steps in selling a fixer-upper house is to get it inspected. You can find a local inspector with experience in home renovation and ask them to walk through the property with you. They can give you an idea of what will need to be done and whether any potential issues might be too costly for your budget.You'll want to make sure that anything which could cause significant problems down the line is fixed before putting it on the market. You can also disclose them in your listing so that buyers know what they're getting into when purchasing their new home. This technique can help you sell fast.
Likewise, you should ensure pleasant music is playing in the background (but not so loud that it distracts from the conversation). Finally, you may want some food and drink available for potential buyers who arrive thirsty or hungry.
4. Hide Cosmetic Issues During An Open House
Make an excellent first impression. It means keeping the house clean and uncluttered during an Open House. It also means ensuring no bad smells and adequately lighting the house. Some people even recommend baking cookies or bread to give the house a lovely, welcoming scent.Likewise, you should ensure pleasant music is playing in the background (but not so loud that it distracts from the conversation). Finally, you may want some food and drink available for potential buyers who arrive thirsty or hungry.
5. Make Those Essential Repairs
Repairing a broken window and replacing leaky faucets are obvious fixes you'll want to make before showing your home. But some other issues can be less easy to spot, including:- Roofing and chimney issues: Roofs and chimneys often go unnoticed until the weather changes—and then they get tough to miss. Fixing both will save you from lowering your asking price to cover their repair costs.
- Electrical and plumbing issues: Even if your house is well-lit, it won't appeal to potential buyers if your electrical system isn't up to code or wiring has been damaged by mice.
- Heating and cooling systems: Buyers may not notice right away if something is off with the HVAC system, but they'll question why they're sweating in January or freezing in July once they move in.
- Others include toxic substances like mould and asbestos. If a buyer discovers mould growing somewhere inside their walls (or asbestos), they might walk away.