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August
26
26
The Age of These 5 Things Could Impact a Home Sale
Whether you're buying or selling a home, you must understand how some aspects of the house may impact the sale of the property. For many prospective home buyers and homesellers, a strong focus is placed on aspects like curb appeal, remodeled kitchens and bathrooms, and new paint throughout the house. Each of these features can influence the price of a home. However, they aren't alone in impacting the success of a real estate transaction. The age of these five things could affect a home sale.
- Roof
The roof is one of the most important and expensive elements of a home, so it should be no surprise that its age may impact the sale. The average roof has a lifespan between 20 and 30 years. Depending on the age of the roof, the seller may consider replacing it to maximize their potential selling price. Although the buyer may negotiate the cost of the home based on the old age of the roof, they may have trouble securing homeowners insurance until it's replaced. There's a possibility that an insurer will deny a policy renewal on homes with roofs over 20 years old without first passing an inspection. - Plumbing
There's a hidden problem in some old homes that sellers and buyers may not consider right away—old plumbing. Snaking through the floor and walls of the home, replacing an entire household plumbing system isn't as easy as replacing a roof. The good news is that copper or brass piping can last for half of a century or longer. The bad news is that an old home that hasn't been updated may have lead piping that presents a health issue to everyone in the home. As well as the potential for these old systems to breakdown if the home is over 100 years old. The presence of lead piping can create an obstacle that delays a home's sale. - Appliances
Technology is advancing rapidly, and old appliances just won't cut it for most homebuyers. Many of these individuals are willing to pay more for homes that include smart appliances. Laundry machines, energy-efficient windows, smart hubs, smart locks, and security systems, and smart thermostats are just some of the high-tech appliances and devices buyers seek out. Thankfully, many of these additions can fit into any budget. If you're remodeling your kitchen before you sell, consider upgrading the appliances. If you're trying to keep your additional renovation investments low, installing smart locks, alarm systems, or thermostats are affordable yet attractive to buyers. - The House Itself
While the individual elements of your home need attention, you can't overlook the age of the home itself. Buyers are developing an interest in historic homes, with the historical real estate market increasing in many areas around the country. Perhaps more important than simply the age of the home is its presentation. If the house appears to have features that buyers would consider charming or give the space character, it's seen as a work of art. - Community & Location
Sometimes, where your home is located has an impact on its ability to sell. As communities grow and change, these areas may be more or less desirable to current homebuyers. For example, an area that's growing commercially or a neighborhood that's undergoing many flips and renovations may be more attractive than adjacent communities.
To learn more regarding how the age of certain features has the potential to impact the sale of a home, contact us today.