Buyers can get very particular when choosing their first or next home. They not only look at the home’s features and amenities, but they also pay close attention to its location, surroundings, crime rates, access to public transportation, the neighborhood, etc.
Because of all these factors that can influence a buyer’s decision, sellers have to step up their game. Selling a piece of property located in a bad neighborhood may be difficult. Nosy neighbors, loud railroads and highways, high crime rates, among others can easily deter a buyer from showing interest in the home you are selling.
However, if you know the right techniques, you can still show your property in the best light and increase your chances of making a sale. Here are some tips to effectively sell a house located in a bad neighborhood.
1. Price Right
Your pricing can make or break your chances of being able to sell your home. For properties located in less than desirable neighborhoods, the target market comprises buyers looking for starter homes. These buyers have a tight budget — and your listing must be able to fit that and appeal to those making their first entry into the real estate market.
Many buyers with tight budgets expect that the homes they buy at a low price will require repairs. You can step up your competitive advantage and conduct these repairs yourself, but make sure you’re not going to spend more than you’ll be earning.
2. Boost Your Curb Appeal
There are some unique situations where the features of a home can outweigh all the negativities of the surrounding neighborhood. Because the property you’re looking to sell is in a bad location, you should make the home itself the main selling point.
Boost your curb appeal and control how much of the neighborhood is seen and felt from inside the home. You can do this by building a fence or planting trees around the property line for more isolation, improving your landscape, installing outdoor lighting and security features, etc.
3. Highlight the Home’s Best Features
Presenting your home in the best light is everything when you don’t have a neighborhood to complement your property. Show off your amenities, landscape, and other interior design features that can make your home more attractive to buyers.
In an effort to beautify your home, you might be keen on conducting a full-blown renovation. But be careful of spending too much on big renovations as this can offset your earnings. Instead, make small improvements like changing kitchen and bathroom fixtures, updating the closets, fixing scraped paint, etc.
4. Offer Incentives
Because your market comprises first-time homebuyers with tight budgets, offering incentives can help your listing become more appealing. Consider taking the initiative to provide owner-financing. By doing so, you pay for the cost of your home and get payments from your buyer in arrears. In essence, you are becoming their landlord. Although it means you won’t get the money from the sale right away, you are increasing your chances of getting more offers.
Other incentives that you can provide to make potential buyers more interested include covering the closing costs and giving credits towards repairs.
5. Sell to a Real Estate Investor
Unlike home buyers, real estate investors will not be living in the home after they buy it. But if they see potential in your home, they will purchase it even without the need to conduct renovations and repairs on your end. They can purchase your property as-is and close the sale quickly, saving you from the hassle and time spent renovating and hosting open houses.
Eliminate the Hassle. Sell Your Home to Skye Homes
Skye Homes is a real estate investor that purchases homes across the 50 states. We buy your property directly from you, which means you don’t have to pay for the added costs and commissions for a middle man.
We are interested in all sorts of properties and purchase them as-is without requiring repairs or renovations. You don’t even need to move out immediately after closing — we adjust to your schedule and allow you to choose your closing date.
By selling your house to Skye Homes, you save more time and money compared to posting your property on listing sites, working with a realtor, and waiting for an offer. Even if your house is located in a bad neighborhood, we may see potential in it that typical homebuyers don’t.
If you want to explore your options with Skye Homes, tell us about your property and we’ll give you an all-cash offer as soon as possible.