Despite the current real estate slump, many homeowners are putting their houses on the market and many people are out there willing to buy. If your house has been on the market and you haven’t had any nibbles, then take another look at your situation. There are five unusual factors that might be turning potential buyers away.
Your House Doesn’t Fit In
Although individuality can be a good thing, your home might turn off potential purchasers if it is significantly different from the neighboring houses. People seem to naturally congregate with folks similar to themselves and this grouping tendency spills over into home ownership. If you have a Victorian-style house in the middle of a neighborhood of stately Tudor homes, it will undoubtedly be harder to sell.
You also don’t want to have the largest home on the block. A 3,000 square foot house surrounded by 1,500 square foot homes probably won’t get a quick offer. Buyers looking for homes of that size will be looking in areas full of 3,000 square foot homes. Surprisingly, someone using a mortgage calculator to figure out how much home they can afford will be more likely to place an offer on the smallest home on the block.
Your House is Missing a Room
One of the joys of home ownership is that you can customize your space to fit your particular needs and taste. However, changing the property’s structure might make it harder to sell later on. Some homeowners tear down walls and join bedrooms to make one larger bedroom space. While large bedrooms are fine, merging rooms also reduces your overall room count. If your home boasts fewer rooms than the houses around you, a buyer using a mortgage calculator to figure out a home’s value will be less likely to purchase your house. In a similar vein, if the houses in your area all have a spacious room, your home will be more likely to sell if it also boasts a spacious room.
Your Home Is Showing Its Age
Although newer homes typically sell faster than older ones, an older house can sell as long as it’s in great shape. Remember that your home is competing against every other home in your price range. If your competition includes younger homes in great condition, buyers will probably purchase one of those. Make sure your house is clean and move-in ready to increase your chance of a sale.
Your Home Is Having an Identity Crisis
Buyers are attracted to houses with consistent finishes and styles throughout the space. Keep remodeling projects or additions in the same style as the rest of your home. Make sure all of your kitchen appliances match each other as well. Finish all updates and remodeling projects before putting your house on the market to increase your chances of a fast sale.
Your Neighbors Aren’t Neighborly
Potential buyers might shy away from your home if you live next door to someone who is a complete slob. Neighboring buildings can be troublesome as well. Living next to a power plant, dump, noisy club, hog farm or a cemetery can reduce your chances for a sale.
If you’ve been trying to sell your home with little luck, take a good look at your property. Unusual little factors can add up to make a big difference to potential homebuyers. Weird homes, bad neighbors and overly large houses can make a potential buyer and their mortgage calculator quickly turn away.
[This post was written by Louise on behalf of MoneySupermarket]
