There is no such thing as an unsellable home.
Many homes come with challenges: some need upgrading, some are outdated and some are in bad locations. However, it’s important to know that there is no unsellable home.
So what happens with a home is a bit of a challenge?
After treating it to our 9 Steps to Selling your Ottawa home, it gets priced differently after doing thoughtful research.
We take a long look at what is happening locally in the market to find comparable properties and we find a way to position your home in the marketplace.
Defects in a home can all be fixable, and it is just a matter of finding out what is better for the market. One example would be if your home needed a new furnace. There are situations where the COST of replacing the furnace increases the VALUE of the home by more than the cost. So, if possible, we would recommend you replacing the furnace. However, if you cannot, or are simply not interested, we recommend adjusting the price so that prospective buyers are willing to buy the home as is and then change the furnace themselves.
Occasionally though, a buyer will be unable to pay cash for a furnace, and so are willing to pay more for a home that is already updated. It all depends on the marketplace, and the price point of your home.
There are different price points that different homes fall into.
Usually smaller homes, sometimes in the urban centres. Often these are town homes, or apartment condominiums. These homes often attract the first time home buyers, such as young professionals or new families. Many times these buyers are strapped for cash and often are looking for a home that has appliances and furnaces and roofs which are in good shape. Generally, these people are not looking for a ‘fixer-upper’.
The next level of home is often suburban and perhaps a semi-detached with a yard to accommodate the kids and pets. Often these buyers have previously purchased appliances or are willing to put some work into a home because they have built some equity in their homes.
These are broad generalizations, yet it helps you see that each buyer has different needs and finds value in different features of a home.
It is with this knowledge that we can confidently say, no house is unsellable at the right price.