How To Sell Your House If It's An Older Home

If you have an older home that's in good condition, but needs some work done before it's market-ready, how can you prepare to sell it? 

There are several steps you can take to sell an older home without "breaking the bank" in the process. Let's talk about 6 things you can do that don't cost all that much, but can be extremely helpful in making your home attractive to prospective buyers.

1. Understand Your Target Buyer

The first thing you can do to prepare your older home for sale is to simply think about what type of buyer would be most interested in purchasing it. When it comes to older houses that require quite a bit of work, you're probably looking at three different categories:

• Home "flippers." These are basically investors that want to buy your home "on the cheap," renovate it, and then turn around and sell it for a profit. Nothing wrong with that — but if you're anticipating a lot of interest from home flippers, you should definitely link up with a reputable real estate agent for comparative market analysis. This estimate of your home's value will help you to figure out when you're being low-balled, and when an offer is fair.
• Deal hunters. Deal hunters want to find a bargain, but many of them also understand the potential value of an older home. Maybe they really love your neighborhood, and would be happy to move into a "fixer-upper" as a long-term project.
• Remodelers. These folks have the money, but they're looking for the right house, in the right neighborhood. Even if your home needs some work done, its features and location may be just what a "remodeler" is looking for.

2. Deep Clean Your Property

The impact of cleanliness on selling a home can hardly be overstated. In fact, one study found that while an average "deep clean" may cost $167, it can result in an increase of $1,728 in resale value; and a "declutter" project with a cost of $486 can yield an increase of $2,584.

With that in mind, give your home a thorough cleaning before taking any photos — and definitely before hosting an open house. Clear out the clutter from your closets and basement. Clean up your yard. Scrub down your countertops. It's amazing what cleanliness can do in terms of marketing.

3. Sweat the Small Stuff

Even if you don't want to make major upgrades to your home, can you take on some smaller projects? For example, if your walls could use a fresh coat of paint (always in a neutral color), is that something you could handle over the course of a long weekend? Small upgrades like caulking in bathrooms, replacing light bulbs, or having your carpets professionally cleaned can add a lot of appeal to your home once it's on the market.

4. Market Your Home's Strengths

Buyers want what buyers want. For instance, research shows that 91% of buyers want a laundry room, 89% want energy-efficient windows and appliances, and 85% want a ceiling fan (or fans). If your home has these or other positive features, then focus on them in your marketing efforts. Take photographs that accentuate your living room's bright windows, or highlight the storage space contained within your closets. Your prospective buyers will understand that work needs to be done. Your job is to open their eyes to the outstanding features of your older home.

5. Price Your Home Correctly

Finally, you want to make sure that when you list your home, you're neither over-pricing or under-pricing it. Again, this is where a comparative market analysis really comes in handy. When you understand your home's base value, along with any deductions due to needed repairs and additions from recent upgrades, then you can set a reasonable target price for your older home, and list it accordingly.

FlashHouse: Another Option

Get a competitive cash offer on your home in 24 hours and sell without the stress of preparing your house for the market on your own.