Tuesday, October 3, 2017
Selling the Family Home
The time may be right for you or your parents to move into a senior living community but you are concerned about selling the house. We are all aware that the housing market has recovered from the poor market of a few years ago but finding the right buyer can often still be a challenge.
There are some things you can do to give yourself an edge over the competition. The most important thing is to set the right price as a house priced too high is just not going to sell in any market. Be sure to take condition of your home into account and sale prices of comparable houses in the area. Do not assume the price necessarily reflects the assessed value.
If your house has been on the market for a while, re-evaluate what is going on and discuss with your agent any feedback he is getting from prospective buyers. It may be some repairs and upgrades are advisable and could make a difference. Ron Phipps, a principal broker with Phipps Realty and Relocation Services in Warwick, R.I., say, “If the house looks 40 years old with 40-year-old paint, 40-year-old appliances and 40-year-old carpet, that's a hard sell”. Remember that an old house can just look old, or with a few well-placed updates, you can transform it into a classic.
Steps to staging your home to get ready to sell:
Clean everything inside and out. Do not forget windows and steam clean the carpets. Make sure to eliminate any pet or cigarette odors. Paint walls that are dirty and replace stained or worn out carpet (consider putting in wood or tile floors). Stick to neutral colors.
Fix anything that is broken or damaged. You could consider having a home inspection done as a buyer will probably do one anyway. It allows you to take care of repairs beforehand.
Get rid of clutter throughout the house and do not forget countertops. Removing as much as possible will help to give the impression of more room.
Take down anything that could be offensive and put away personal items and mementos. The idea is to let a prospective buyer picture living there.
Open blinds and windows to give more light and let fresh air in if the weather is cooperative. Set out a vase of cut flowers.
Sometimes seniors think it is better to modify their current home and postpone moving into a senior living community. Studies show that making even small modifications can negatively affect home equity down the road when someone wants to sell. People can feel disconnected to a house that looks like an “old person’s” home.
MorningStar of Sparks’ unique mission statement “to honor, to serve, to invest” sets us apart from other senior communities. Committed to creating a true home for residents within a gorgeous setting, our foundation is built on honoring God, valuing our seniors and hiring staff with a felt calling to serve. We invite you to schedule a visit to learn more about our exceptional senior living.