Selling an older home today can be alot like getting back in the dating game after many years of married life. Lots of updating to do. In today's real estate market, update you must, or more than likely, the house sits, and sits, and sits....like a wall flower at the dance.
This is especially true when the sellers are people who have lived comfortably and happily in the home for 10, 15, 20 or more years. They have become so accustomed to the home's problems that they've overlooked them ... choosing to put off fixing things. They also are unaware of outdated look of their home, their wall paper, their furniture, their appliances, etc. when compared to other houses in the same area and price range.
While there are some buyers that are looking for houses they can make over, the vast majority are not. Sellers that don't grasp this early in the process risk having the financial burden of a house that sits out dance after dance and/or a selling price that goes down and down and down.
A thorough home inspection gets the seller past this inertia and identifies a list of issues to be addressed to prepare the house for one of the most competitive housing markets in history. A good pre-listing inspection not only identifies house problems, but also helps prioritize the "have to do's" from the "nice to do's."
A recent pre-listing inspection, for example, involved an old deck. The seller was thinking about just tearing it down. My recommendation, after looking at it closely, was to get estimates on fixing the safety related items such as the loose hand rail, worn steps and wide spaced ballasters and compare those costs with the cost of removing an hauling away the deck and fixing the siding. The house may be more saleable with a deck, albeit old and worn, than without. Most buyers tend to find it easier to accept updating an existing deck than visualizing starting from scratch.
A pre-listing inspection should make the seller aware of things that make the house more saleable. That 25 year old water heater or air conditioner may be working now, but will be viewed as potential problems by prospective buyers. Adding a home warranty doesn't always give the buyer the peace of mind that having a new appliance does.
I've been asked whether putting in granite counter tops is a good idea. Now I love granite, but unless the house shows well to begin with, it's probably a better idea to put that money into things that will improve the appeal of the house... i.e. new siding, new windows, new carpeting, can go a long way toward making the house more attractive.
When the sellers are not really understanding why their house is not all that attractive to anyone by them, I will recommend that they go with their realtor and look at houses for a day or two. Then go out to dinner and when they go home, visit it like they were visiting the other houses. Try to see it for the first time. This usually opens their eyes...sometimes enough to get them to consider the services of a professional stager.
There is alot of "letting go" for people and the home inspection process can be a great way to get it started.
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It's a good idea to have me pre-list inspect your client's house. You never know what you will find.
Sincerely,
Home Status Inspection Company
August 6, 2007 Copyright Home Status Inspection Company, LLC All Rights Reserved
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