You think you’ve done everything right, but your home is not selling. If you feel like you’ve tried almost everything, you may have to revisit a few common obstacles before it does. With these issues out of the way, you can finally move forward in life and get your profits in the bank instead of tied up in your property.
If your home is not selling, the price may be too high. Your home is only worth what a buyer is willing to pay for it. Market analysis is critical to success. Compare your home to others in the area with similar features. If you tried to set your price without analyzing the competition, buyers will spot your higher price. Even if you think it is worth more, buyers will not. Correct pricing sells homes quicker and the perceived value of your home drops the longer it is on the market.
Homeowners live in their houses and do not see their property the same way a buyer does. If your home has too many personal objects or you have unique tastes in decorating, buyers may not appreciate it. They need to be able to picture themselves in the house, so bold patterns, bright colours, and rooms full of knickknacks distract them. If your home isn’t selling, simplify and turn to a neutral palette.
After living in your home for some time you might find it lacking in some areas. You might turn your garage into a recreation area or gym or use a second bedroom as a walk-in closet. This might work for you, but not for buyers.
Renovations or upgrades contrary to what most people expect to find in a home can turn off potential buyers and lower the resale value of your home. When buyers view a two-bedroom home they expect to see two bedrooms – not one and a closet.
The view from the curb is a potential buyer’s first impression on your home. If the trees and bushes are overgrown, the grass is full of weeds or the exterior paint is peeling they aren’t likely to venture inside.
Sidewalks, the front porch, door, mailbox, light fixture and house numbers need to be clean and in good repair. The entrance should be free of obstructions, warm and inviting.
If home is not selling, you may have neglected your marketing. You cannot put a sign on your lawn, put an ad in the paper and list it on the MLS and expect buyers to beat a path to your door.
Effective marketing makes use of technology, market expertise and regional contacts. More buyers use the internet to scout for properties so you need to have a strong presence on real estate sites and connect to professionals in your area. Referrals are a common source of sales.
Few buyers have the skill or budget for repairs or renovations. Ideally, they want to buy and unpack. If your home is not selling, it may not be in the best possible condition.
Buyers will notice tired paint, outdated fixtures and repairs left undone. They will delve into every nook and cranny in your house, including closets, the garage and even a storage shed. If they see clutter or dripping taps, hear squeaky doors or toilets running, or feel rough surfaces that should be smooth they are less likely to make an offer. If you want to make a sale, your home must be in the best condition possible.
Ensure your home is spotlessly clean, including window coverings and flooring, baseboards, cupboards and closets. Kitchens and bathrooms need to sparkle.
You don’t always get to choose when you need to sell. Perhaps you’ve been transferred and you’ve already found a new home in another city. Maybe you’re tired of the hassles of home ownership and have spent a bundle on repairs and now you just want to rent. You might have inherited a money pit that you just want out of your hair. The only problem is that when you want or need to get out, you can find your home is not selling because the market is dead.
You do not have control over what happens in the market and the delay in the sale may have put you in a financial bind. Fortunately, real estate investors can help you no matter what the reason is for your home not selling. MicGil Property Solutions can assist you. They pay cash for homes, no matter their condition, and you avoid expensive fees. Contact them at (613) 702-5551 to discuss the possibilities or complete the simple form here.