As the pandemic has been running its course, there is a surprising new trend among young adults. People are looking for more opportunities to own a house rather than an apartment. Massachusetts is just one of these areas that have seen a rise in the real estate market.
There has been an increase in mortgage applications of up to 33% in comparison to last year. There are many reasons why the pandemic has shifted the general public’s view on owning a home.
On the other side of the coin, the rising demand for new home buyers creates a profit potential. If you are looking to sell your home, you may be ready to jump on that bandwagon. But looking at selling your home can force you to realize that you live in a rundown house.
Even a rundown home can change to sell to a new family. Selling a house fast in Massachusetts does not have to be a difficult project. It will take time, patience, and research. But reading this article is the first step you can take to finding out how to sell a rundown house.
Research the MA Housing Market
Browsing the real estate market is more than just a fun pastime. There is a lot of genuinely helpful information that you can pick up by researching the housing market.
If you are living in the Massachusetts area and need to sell your house in Boston, you must do a little research about the housing market. It differs greatly from state to state. As a result, a general overview of the country’s real estate market won’t help you when trying to sell a home.
Homebuyers are often looking for specific things in their new home. Research into what the general population of potential home buyers is looking for in the Massachusetts area. Your research allows you to make a note of what you can add or subtract from the property you are selling.
Curb appeal also plays a large part in selling a rundown house. Even if the home itself is a fixer-upper, people enjoy having a good-looking lawn. Your research into curb appeal in the Massachusetts area can help you draw in potential buyers.
There are a lot of steps in the process of researching a housing market. You will want to observe the average home price in MA as well as the general MA real estate market.
Make Necessary Repairs on Your House
You will most likely find throughout your research that you will need to make repairs to your house. The level of necessary repairs depends on the condition of your home. If you are trying to sell a rundown house, you will probably need to make quite a few repairs.
The type of repairs that you need to make may not be major. Sometimes, a house is only in poor condition due to minor cosmetic flaws. However, you also may find yourself taking on more major repairs.
Along with repairing your home, landscaping is another project you may want to take on. If there are significant issues in your yard, you will want to repair them as soon as possible. These issues can range from holes in your dog to a broken patio.
Curb appeal can play a large role in how many potential buyers you get. Fixing your lawn, adding plants, and even adding structures can make your yard more appealing.
Having a rundown house can make the selling process a lot more difficult than a home that is in good condition. Many home buyers are not looking for a fixer-upper. However, there is still a market of potential buyers who do not mind having a few projects to work on.
Before selling your house, make sure that all significant repairs are taken care of. After you finish all of your major repairs, you can decide how much more work you are willing to do. If you believe you can sell your home with a few minor repairs left, you can do so. Remember that you will likely not make the full value of your home if you sell your house as-is.
Research the Massachusetts Buyer Pool
The buyer pool of any market is important to research before trying to sell a product. Whether the product is a car, software, or a home, the buyer pool is an essential aspect to review.
In the case of how to sell a rundown house, you will need to research the Massachusetts buyer pool. The information that you gather through your research will help you decide what you need to do to your home. You can gather this research in several different ways.
Talk to Your Friends
If you have friends who own a home, you can start your research by talking to them. Ask your friends what they were looking for while buying their home. What stood out to them? Do they regret their purchase? Were they willing to make repairs around the house?
All of the information that you can gather from a homeowner is valuable to you as a seller. While not every homeowner is going to be the same, you can make a few generalizations from your notes.
Research Online
Checking online is another great way to gather essential data on homeowners in MA. You can read reviews on property, chat online with homeowners, and read through forums.
It’s important to make your research specific to the Massachusetts area. What the general population of California prefers in a home is going to be a lot different from what the population in Massachusetts prefers. As a result, you will need information that applies to MA.
Decorate Your House
After researching and making the appropriate repairs, you can now start to decorate the home. Decorating your home is one of the most enjoyable parts of preparing the house. Even a rundown house can carry a lot of charm if you spend a lot of time decorating.
However, decorating a home can be more difficult than it seems. The process of decoration is not necessarily about what you like in this case. You want to decorate the house in a specific way that creates an inviting atmosphere for potential buyers.
When you put your house on the market, you will likely end up working with a real estate agent. This realtor will be showing off your house to potential buyers. Even though a buyer will be supplying their furniture, the way that you decorate beforehand can leave a good impression.
Setting a theme for the house can help you figure out how to decorate. You can pick a bright color theme or a neutral color theme. There are also a lot of routes that you can with specific themes. These specific themes can include a tropical theme, a garden theme, and much more.
Home magazines and websites, as well as TV shows, are all good sources for decoration inspiration. You can try and recreate a specific style you find, or you can use that style to inspire your own. Your realtor can also provide advice on how to decorate the house.
Highlight Issues That Need Fixing
As someone who is selling a home, you need to be transparent about any issues that can occur in the house.
Highlighting current issues that need fixing is vital information to relay to your potential buyers. If someone buys a home with unexpected repair projects, they will likely not be very happy.
Being transparent will almost always work out in your favor, no matter how many repairs are left. Buyers will appreciate your honesty and feel that they can trust you. Establishing trust between a buyer and a seller is one of the best ways to get the buying process moving.
Price Your House Right
The price of a house is ultimately one of the biggest deciding factors in the final purchase. How much you price your home can seriously help you sell your house. The price can also restrict your ability to sell the house.
Knowing how to price your home can be difficult. But there are a few ways that you can go about setting a price tag on the house.
Research
Again, research plays a large part in the selling process. By researching the market value of other homes in your area, you can start to compare your houses.
Be Flexible
It is not very likely that your set price is going to be the money you receive. Any potential buyer you receive is going to want to negotiate the price a little bit. It’s a good idea to have a minimum price that you are willing to take.
You can set the initial listing price above your minimum price. That way, you have a little wiggle room in case you need to negotiate.
Sell to a Cash Home Buyer
Some home buyers are willing to pay cash for your house.
Most of the time, homeowners need to take out a loan or a mortgage to fund their purchase. But some people are willing to pay a larger amount of cash for a house.
When someone offers to pay for the house in cash, you will often get a lower amount of money than you ask for, but it is a great way to sell your house fast. Cash home buyers allow you to sell your house in any condition.
Instead of spending money on repairs, you can save that money and take a lower cash offer for your house. Cash offers allow you to worry less about the hassle of selling a home.
Conclusion
Now that you know how to sell a rundown house selling your home does not have to be a difficult project. There are many ways that you can take advantage of the rising real estate market. By researching the appropriate information on the Massachusetts area, you can sell your house in any condition.