If you’re ready to sell your home, you probably have a lot of questions. If you’re selling an older home, you may be worried about being able to attract buyers.
Typically, a house takes about 70 days to sell after it’s been listed in the Memphis real estate market. This includes 24 days on the market and an additional 46 days to close on the loan. However, if you’re selling an older home that has some issues, a traditional sale can take a lot longer.
Fortunately, there are steps you can take to make your home more appealing to potential buyers. Obviously, you should never be dishonest about the condition of your home, but there are things you can do to put your best foot forward.
Keep reading for our top tips on how to sell an old home as well as some alternative options if you don’t feel like waiting around.
1. Consult With an Experienced Realtor
If you’re going to sell your home traditionally, we recommend hiring an experienced realtor to help you out. They’ll have valuable insight into what you should do, how much you should charge, and how you should market your home.
If you decide to make any repairs or renovations, most realtors have connections with contractors and other professionals. They may also know people or companies who would be interested in investing in fixer-uppers.
2. Have the Home Inspected and Appraised
When selling an older home, it may be in your best interest to pay for a house inspection before placing it on the Memphis real estate market. Traditionally, prospective buyers are the ones who hire and pay for an inspection. However, if you know the home is older and may have issues, it may be wise to know what you’re dealing with beforehand.
Once you get the inspection report back, you’ll have a better understanding of the home’s condition. Then, you can have the home appraised to determine its value. Regardless of its condition, you should take the time to get your house ready for a home appraisal to push for maximum value.
3. Make Repairs and Updates
If you want to invest the time, money, and resources, you can get more value for your home if you make repairs and updates. When selling an older home traditionally, this may be vital for getting an offer.
If you’re working with a limited budget, we recommend taking care of the smaller, aesthetic issues. You can freshen up the look of an outdated home by adding a fresh paint job with modern color schemes, updating cabinet hardware, replacing old doorknobs and light fixtures, and more.
Additionally, repair minor issues like damaged drywall, old trim, stained carpet, chipped tiles, cracked windows, etc.
Selling an older home with issues doesn’t necessarily mean selling an ugly home.
4. Take Time to Clean the House Thoroughly
No matter how old, damaged, or ugly a house is, it can still be immaculately clean. In the Memphis real estate market, buyers expect to walk into clean homes, even if they’re looking for a fixer-upper. It’s one thing to have a roof that needs to be replaced and another to leave garbage all over the floor.
Spend a few days cleaning the house from top to bottom. If you don’t have the time, hire a professional house cleaner to deep clean the house for you. A clean home will show buyers its true potential.
5. Maximize Your Curb Appeal
For some buyers, the property is just as important as the home itself. Sometimes, selling an ugly home means maximizing curb appeal.
Make sure the grass is cut, weeds are pulled, and vegetation is trimmed. Take time to clear driveways, sidewalks, and other paths of debris and overgrown plants. If the exterior paint is faded, peeling, or out-dated, it may be time for an update.
6. Highlight Positive, Charming, and Unique Features
Learning how to sell an old home in the Memphis real estate market means appealing to a buyer’s sense of nostalgia. Most older homes have unique features that are no longer incorporated in newer houses.
These include things like elegant archways, double french doors, built-in china hutches, and more. Some houses have beautiful and intricate architecture as well.
Highlight these features as an incentive to potential buyers. The house may be older, but there’s history there, which is its own value.
7. Decide if You Need to Sell the House As-Is
When learning how to sell an ugly home or a house with multiple issues, you need to decide if selling it as-is would be a better option. Selling a home as-is instead of making repairs or updates means you’re going to take a hit on the price.
However, you may not have the time or money needed to make the necessary changes. Talk to your real estate agent to see what they advise.
8. Market to the Right Buyers
Regardless of how you decide to sell your home, you’ll be more successful if you target the right buyers in the Memphis real estate market. Older homes that are out-dated or in disrepair are hot sellers as fixer-uppers. House flippers are willing to invest in homes that need work and make renovations to resell them for a profit.
Alternatively, there are younger couples who have less money and less credit who will buy older homes because they’re more affordable. They also like the romantic idea of fixing an old home up together.
9. Consider Selling to a Cash Home Buyer
Finally, if you decide you don’t want to go through all the work of getting your house ready for the market, you can choose to sell to a cash home buyer.
Cash home buyers are companies that specialize in helping people who need to sell their homes quickly. They will give you an offer within a couple of days. If you accept their offer, you can expect to close on the house in as little as one to two weeks.
Looking to Sell Your Home Fast in the Memphis Real Estate Market?
If you’re looking to sell an old or ugly home in the Memphis real estate market, we can help expedite the process. We know what it’s like to be in your shoes and want to make your life easier. Contact us today to request a cash offer and get the ball rolling.