Real Estate Matters 10.19.21
PRESQUE ISLE, Maine (WAGM) -Selling a house as is can limit your buyers. On this week’s real estate matters, Megan Cole offers some tips on how you can sell your home for a higher price.
Selling a fixer upper home can be hard. Stephanie Fields of Fields Realty says if you want to sell your fixer upper for a better price, consider tackling big ticket items.
“If you’re looking to get a price for your home that’s better than as is consider tackling the big ticket items for the buyers that are concerned about. Remember most buyers consider a portion of their cash available is gonna towards their down payment so they may not have the means to fix the big ticket items. So if you take care of the improvements you’ll be able to get a higher price for the home, covering the cost of the upgrades with your list price and making it attractive to a broader group of buyers.”
But what are some of those big ticket items?
“Replacing the roof if the shingles are curled that will come out in an appraisal issue as a home inspection issue. Updating the electrical panel and again that can be an insurance issue with fuses and knobbing tubing. Installing a new water heater addressing mold or water damage repairing pipes, poor connection in the septic system and upgrading the HVAC system.”
If you are going to market your house as a fixer upper, Fields says to look at the prices of similar homes in your area before you put it up for sale.
“Pricing your home is a bit of an art and we wanna make sure. We have to know if we are in a buyers market or a sellers market and we price accordingly to that market and you wanna hone in on a perfect price by looking at recent of similar homes in your area. We have to use sales not listing prices and I can do or an agent can do a comparative market analysis to help see the range where we wanna put the price.”
Overall Fields says this initial investment could bring a big return.
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