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Life Enriching Communities Blog

5 Ways to Boost the Selling Potential of an Older Home

Posted by Twin Lakes on August 24, 2017

Dining room looking into living roomWhile older homes have character and historic features that are attractive, they also come with their own set of challenges when facing the real estate market.

Selling an older home, or a home you’ve lived in for decades, may involve repairs, upgrades and the question: where do I even start? You want your home to sell for maximum potential and to so quickly, especially if you are post-career and ready to downsize to an independent living home that gives you freedom from home responsibility.

Use these tips to help maximize and speed the selling potential of your older or “well lived-in” home.

(Also, have you seen the new independent living senior homes at Twin Lakes? Check them out here!)

5 Things to Do Before Putting an Older Home on the Real Estate Market

1. Research the Market for Comparable Older Homes

Realize every market is different. Your state, city or neighborhood market could be entirely unlike those in the national market or some you see in the news. Research your regional market by talking to a handful of professionals in the real estate industry. Do your own research both online and through local sources. Find comparable homes, those that are near the same age and condition of your home with similar features.

2. For a Home that Needs Work, Create a Fix-It or Forget-It List

Don’t let a leaky roof turn potential buyers away nor invest thousands in a living room that doesn’t gain you any additional selling power. Make repairs that gain you maximum benefit in selling. Some typical quick fixes that are worth the investment include: upgrading outdated appliances, fixing scratched wood floors and cracked tiles and replacing drafty windows.

3. Stage an Older Home for Today’s Buyers

Staging tends to pay for itself as you will get more for your home if it is staged properly. Through staging, you highlight your home’s strengths and downplay the weaknesses to make it as appealing to as many prospective buyers as possible. You can hire a professional stager, ask your real estate agent for help staging or try it yourself.

4. Get Buyers in Fast with a Good First Impression

Curb appeal is always important. Buyers are likely making a judgment on your home based on an exterior picture or a drive-by of the property. Spruce up your home’s exterior with inexpensive shrubs and flowers. You can typically get a 100-percent return on the money you put into your home’s curb appeal. Entryways are also important. Consider a vase of fresh-cut flowers or even some cookies, HGTV recommends.

5. Make Quick Changes that Sell a Home Fast

Keep it simple by depersonalizing and designating rooms. This can be done as part of your downsizing, packing and preparation to move. Pack away family photos and remove reminders from the refrigerator. You want a new family to envision their family and life inside your home. Also, return any converted rooms, such as a dining room that is now an office, back to its original intent. Make sure each room or area has a designated use so prospective buyers can easily see how the space could work for them.

Quick tip: Plan ahead for moving day! Don’t wait until the last minute. Experts advise starting at least six weeks in advance to stop moving day madness.

Don’t miss the new independent living homes being built within the Twin Lakes senior living neighborhood. Maintain the independence of your own single-family home, with all of the advantages of maintenance-free community living. Check out our new homes today!

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Topics: Finance and Planning

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