Let’s say you’ve got your eyes on a new house that you can’t wait to call your home. There’s just one problem. The house you’re currently living in is very old and you’re going to need to sell it first before you can buy a new one.
Older homes come with plenty of problems and concerns, especially when you’re trying to sell it. There is a greater potential for wear and tear as well as extensive damage to the interior and exterior. Parts of the home when it was first built may no longer meet current building codes. Buyers on the open market are going to be hesitant about investing in older homes, especially young buyers who want to make a long-term investment.
If you’re going to sell an older house, you need to be specific about how you go about it, whether you’re selling on the open market or direct to a cash buyer. Here is how to sell an old home in Milwaukee, Wisconsin.
6 Tips To Sell An Old Home
Make Repairs Where You Can
If you’re going to sell your old home on the open market in Milwaukee, you have to know that many buyers are going to prefer to find something other than a fixer-upper. Very few people want to buy a house with a leak in the roof or broken pipes, but the idea of even buying a house with busted faucets or wall cracks can send many buyers elsewhere.
Repair costs can add up, especially in an older house. That’s why it’s important to prioritize your list of needs and then figure out what you have the money to fix. You’ll want to figure out what’s worth investing in with the hope that you’ll be able to recoup those costs on the sale.
Don’t bite off more than you can chew.. You could end up making things worse. That’s especially true if you’re dealing with mold or termite damage. In that situation, you’re going to want to call in an expert to come in and deal with it. If you’re not a trained expert on home construction, don’t take chances and end up costing yourself way more money than intended.
Get Inspected & Appraised
If you are selling your old house through a real estate agent, they should be able to give you a market analysis. That compares your home’s market value to similar houses that have recently sold in the area.
Since we’re dealing with an older home, you still want to make sure you get a professional inspection and appraisal done before listing. You might know the value of the house, but buyers are going to want to hear about it from an unbiased source (and their lenders are going to require it). It provides peace of mind for buyers who don’t want to get stuck with a money pit house. It also helps protect you from ending up in a legal mess.
Consider Your Home’s Curbside Appeal
Don’t give buyers a reason to keep driving if they decide to come to check out your house after you list it. The simple things matter the most. Make sure you are routinely mowing the lawn, the garage or carport looks clean, the landscaping is fresh, and there’s a new coat of paint on everything. Buyers might be more willing to accept some of the structural or internal issues if they’re able to visualize the full potential of the house from the outside.
The Price is Always Right
You might think you have an idea of what the house is worth or what it means to you. That doesn’t really matter to buyers on the open market in Milwaukee. They’re looking for the best possible deal on a house they want to live in. Because you’re selling an older house, you’re competing against newer homes with modern features and less wear and tear. So you have to price competitively.
If you price too high, you’ll scare off potential buyers who might otherwise be interested but don’t see how they’ll be able to meet you there. If you price too low, it will reinforce the preconceived notions that something is wrong with the house. Consider those recent sales figures in your area as well as market trends in order to make the best possible price pitch.
Hire a Home Stager & Photographer
Considering most buyers go online to look at listings first, you need to make sure the visual aspects of that listing are top-notch. That means hiring a professional photographer who knows how to elevate the look of your old home and hiring a stager who can create an atmosphere that appeals to the widest audience possible.
Staging usually means depersonalizing the house, so you’d need to put away family photos, memorabilia, and other keepsakes. You’d also have to do some decluttering and perhaps move around furniture.
Consider renting a storage unit to keep these things in until you sell rather than shoving everything in a closet because chances are that buyers will want to look in that closet too. The idea is that all rooms and spaces should clear, clean, and easy to navigate. Buyers will want to imagine themselves and their things in here.
Buy a Home Warranty
Don’t worry, purchasing a home warranty doesn’t mean that you have to personally stand behind everything in the house and be responsible for any damage. It simply means that an insurance company agrees to pay the buyer if certain major appliances or features fall apart in the first year of their ownership.
The inspection that the buyer does before finalizing the contract will identify any potential problems, but a warranty gives them a bit of peace of mind so that they know they won’t have to foot the bill if the fridge breaks down or the washing machine stops working three months after they move in.
Sell Your Old Home in Milwaukee As-Is
Trying to seel an old home on the open market in Milwaukee, Wisconsin is a daunting task. Buyers will be very wary of any issues that may exist and curious about what they can’t see. You have to do extensive repairs and consider plenty of costs. And even if you do everything you’re supposed to, there’s no guarantee of a quick sale.
Another option you have is to sell your old home as-is directly to a real estate investor like Cream City Home Buyers. No need to make any repairs or sort out financial concerns. All you have to do is reach out and the no-hassle process begins. We’ll take a look at the property and assess it. Then we’ll make you a fair cash offer. If you accept, you decide how fast you want to close. And then you get to walk away with cash in your pockets, ready to buy a new home and move forward with your life. The hard part is over and you can buy that new house you’ve had your eye on.