If your house has been languishing behind a “For Sale” sign for way too long, you may want to ask yourself if it needs work.
What makes a house need work? Although some eyesores are found in almost every community, when it comes to home-selling, a disgusting house may simply mean the house needs new siding, a coat of paint, a multitude of minor repairs, or even some landscaping to create what’s known as “curb appeal.”
But other things can make a home hard to sell. It may be your price is too high. How does your house compare with other houses in your neighborhood? Consider its condition, size, and appearance. Does your house have similar features, such as an attached or detached garage? A finished basement? Central air conditioning? To sell for as much as the house next door, your place will need to measure up.
On the other hand, you may have made improvements that turned your house into a neighborhood misfit (e.g., a lap pool, grand fireplaces, marble floors) that led you to price it out of the market.
Location, location, location. No matter what you’re selling, location matters. If the price you’re asking for your home is appropriate, the problem may be your property or your neighborhood.
For example, your lot may be smack up against a parking lot, a freeway exit, or railroad tracks. In that case, you may need to add some strategic landscaping or settle for a lower asking price.
If the problem is the neighborhood – whether it’s not currently the most fashionable part of town, or the biggest employer in the area just laid off half its workers, or the gorgeous river view turns into a muddy flood every spring – your best bet may be to search for a buyer among friends and relatives of people that already live nearby.
Fortunately, you have another option.