As a home seller, it can be frustrating when your house isn’t selling as you expected to. Many sellers blame their troubles on their location, or the market conditions. While those are indeed important factors, they don’t apply in all situations. There are other, more controllable factors that affect your home’s value besides how good the market is.
So why is your house not selling? In a lot of situations, the problems come from the inside of the home. As the following post from Trulia explains, issues such as outdated appliances and aged utilities can do a number on your home’s presentation:
8 Reasons Home Sales Fall Through
1. Leaking or Old Roof. Roof issues are responsible for 39% of homeowner insurance claims, according to the National Roof Certification and Inspection Association. The typical lifespan of a roof is 20 to 25 years for shingles, and if your for-sale home’s roof is approaching the end of its lifespan, replacing it could get you to the closing table faster.
2. Damaged Gutters. Routine gutter maintenance could prevent thousands of dollars in damage to the foundation of a home Recognizing the importance of this chore may require a big storm to pass through, but you’ll be glad you did when your home’s siding, windows, doors and foundation avoid water damage.
Unlike location, these faults are totally in your control as a homeowner. Before listing you should be aware of these issues, as most are simple home improvements. It’s a good idea to maintain your house and try to make it look best to buyers.
Home improvements aside, sometimes factors like location do have to be taken into account. While it may seem like there’s nothing to be done about this, there actually is. Up next, Sandy Smith of domain.com goes over the “outside” factors of a home for sale, including neighbourhood noise and street construction:
Nine reasons why your home may not be selling
Too much noise nearby will put off potential buyers. “A property situated on a train line or a major car thoroughfare with heavy traffic and a shopping strip can present a selling challenge as people have a preconceived idea that it will be noisy,” says Stasi Adgemis, director of hockingstuart, Doncaster, Melbourne.
Adgemis says he always recommends to vendors and local developers that they install double-glazed windows and invest in thick, quality doors to block out the sound. “This shows potential buyers when they come to visit the home that there is a long-term solution to manage the noise and that the home is in fact comfortable to live in.” Read the full list here…
Homes can be sold in tough neighbourhoods; it’s once again a matter of presenting your home the best way you can, even if that means spending more than you expected to.
Home improvements and neighbourhoods are two things, but one of the most common reasons why your property may not sell: overpricing. When you’re listing your home you should consider that by listing too high, in all likelihood you won’t receive offers. It’s best to set a reasonable price, as a recent article from RISMedia describes:
11 Reasons Why Your Home Isn’t Selling
- You overvalued your property. If your house is overpriced, it’s simply not going to sell. Compare your property to similar properties that recently sold within your area to get a better idea of its true value. An experienced real estate agent can give you an accurate value of your home. Additionally, don’t make the mistake of tacking on the cost of any renovations you made. You can’t just assume that the cost of a renovation translates to added value.
- Your listing is poor. If the listing of your home includes a poorly written description without any images, a lot of buyers are going to skip over it. Make sure you and your REALTOR® put an effort into creating a listing that attracts the attention of buyers. Make sure to add high quality photographs of both the interior and exterior of your home. Don’t forget to highlight unique features, as well.
Home overpricing is common: is natural to assume our homes are worth more they actually are. But looking at it realistically can save you a lot of time in the long run.
So, what to do? Well, getting the best advice on the value of your home (as well as marketing, and market statistics) is the best place to start…
Choosing the right real estate agent gives you a real advantage. The difference a great listing agent makes can be life-changing.