Even though new builds are fast-emerging in the UK, the housing market is full of old homes that successfully sell. Naturally, when preparing an old home for sale, there's a little more work to be put in. For example, you may need to demonstrate that the electrical work is in a fit condition. Throughout this article, we'll walk you through seven tips for selling an old home.
Minor repairs
Older homes have been standing for a long time, making them susceptible to damage, whether it be cracks around the windows or damage to the external walls. Therefore, before placing an old property on the market, you will need to assess the situation and complete minor repairs. Although this will cost a little, you're more likely to have a successful sale at a higher price.
When carrying out these repairs, you need to understand the impact it will have on the overall sales process. For example, if you want to have a quick sale, you’ll need to start early and focus on external minor repairs first, which will boost the kerb appeal.
Interior design upgrades
Even though you’re selling an old home, it doesn’t have to feel traditional on the inside, even if that’s what you like. Remember, you’re turning your home into a space that will appeal to prospective buyers. You can start this by stripping dated wallpaper and taking down popcorn ceilings. Next, you can spend time upgrading the hardware including kitchen cabinet doorknobs, LED fixtures, and smart devices if the budget allows.
Staging your home
When selling a home, regardless of whether it’s old or new, it needs to be laid out in a way that allows prospective buyers to picture their future. This process is called staging the home, and it needs to be tackled from the outside and in. Starting outside of your property, spend time cutting the grass/hedges and painting the fences, windows, and doors.
Moving inside the property, you’ll need to spend time decluttering, which involves removing your family photos and so-called personal ornaments. You want prospective buyers to walk into a neutral property, which will allow them to strip it back and imagine what they would do with the place.
Get paperwork ready
Older homes will have a long history of maintenance and repairs, so show prospective buyers that you’ve been keeping up. For example, even though it’s not a legal requirement, having electrical safety testing carried out in an old home can give peace of mind. Scheduling EICR testing couldn’t be easier; you can simply get in touch with a reputable company like HEXO Electrical Testing. As well as the electricals, you may want to get your plumbing checked out by a professional.
Plumbing and electrical testing certificates aren’t the only documents you’ll need to source. If you’ve got hold of receipts and warranty information for any appliances, like built-in ovens and HVAC units, make sure they’re ready to show off.
Focusing on the unique points
Old homes have seen a lot, meaning they’ve likely got unique features that newer homes don’t. When your home is being pitched to prospective buyers, you need to focus on these elements. For example, you can make sure that original hardwood floors, wainscotting, crown moulding, and ceiling medallions are all on full display. Other unique features that your home may have includes larger car parking space, which is often restricted in new builds.
No matter what unique features you’re attempting to draw attention to, make sure you’ve taken plenty of pictures and your estate agent knows to point them out. Further, if your home is a listed building, you need to bring that up and explain the history of the place – your new buyer may fall in love.
Be transparent about drawbacks
The chances of everything being perfect in an old home are slim, so you need to be 100% transparent when you’re trying to make the sale. If you lie about any major works that need carrying out and they’re not discovered before the sale, you can guarantee that they will be shortly after. If this happens, the new buyers will team up with experienced lawyers, and you will be liable to pay for the repairs.
Emphasise the potential
People typically buy old homes with a view to fixing them up and turning them into completely different spaces. To appeal to this type of buyer, you need to express the huge potential there is for making upgrades. For example, if you have an unfinished attic, you can mention that an additional room could be added after a little work.
When selling an old home, make sure you invest some cash in making simple upgrades and repairs. Additionally, you should invest time into decluttering the home and turning it into a space that can be viewed with future potential.