New construction is attractive and exciting. Yet, when you are the owner of an older home that is situated near a new development — it can be more of a challenge to lure buyers to your property. Fortunately, the challenge does not equate to impossible. With a plan, you can successfully sell your home in the midst of new construction development.
1. Update What Matters
Buyers are attracted to new construction because of its age and condition, but even more because of its appearance; it looks new. If you can give your older home an updated look, you may be able to get some buyers to at least give your home a closer look. A new coat of interior and exterior paint in a more modern color or an upgrade to smart features, such as a Wi-Fi-enabled thermostat, can often go a long way.
2. Pay for an Inspection
One thing that scares buyers with older homes, specifically first-time buyers, is the fear of all the damage that could potentially come with an older structure. If your home is well maintained and in good condition, despite its age, you can help calm some of these fears by paying for an inspection out of your pocket and making it available to any serious buyers. The inspection report will clearly identify the condition of the home and let them know it is a solid choice.
3. Highlight the Charm
Unless the new construction is custom or a part of the luxury market, there is a high probability that many of the new homes are very similar to one another. As the owner of an older home, this factor offers you an advantage. Older homes often have more charm and character which makes them unique, such as intricate woodworking or wainscoting. Work with the realtor who will market your property to highlight its character.
4. Be Willing to Negotiate
You may need to be more flexible than you had intended. For example, if the builder in the new community is offering a closing assistance incentive, you might need to consider offering some relief for the buyer in this area as well. The more the buyer feels like they are getting just as good a deal, the better. A realtor will help you determine when and how much to bend to ensure you sell your home, but also protect your interests.
The benefit of working with a professional realtor cannot be overstated. Make sure you speak with a home selling realtor who is ready and equipped to help.
This website can serve as your home for information about real estate. Here, you will find articles about the buying process and others on the selling process. We've also included content related to getting a mortgage, finding a real estate agent, and scheduling an inspection. We hope that by addressing all aspects of the real estate world, we will make you better prepared to handle any real estate transactions that might be in your future. After all, real estate can be a really smart investment, but only if you buy the right home and know how much to offer. Start reading, and enjoy what you find.