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Updated almost 8 years ago on . Most recent reply

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68
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34
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Chris Farrugia
  • Involved In Real Estate
  • Naples, FL
34
Votes |
68
Posts

How to sell a home that needs renovation but has a new roof?

Chris Farrugia
  • Involved In Real Estate
  • Naples, FL
Posted

I'm in a unique position where I'm selling an older home for roughly $450,000 and has a ton to offer.  It has a brand new roof which is $25k alone!  The problem I'm facing though is that the other homes in the neighborhood have renovated kitchens (probably less expensive than the roof) and are older too.  People see the house I have listed and say, "Oh, the kitchen isn't renovated."  I explain that the roof alone is more than the kitchen renovation so they can come in and put their own kitchen in to their own tastes.  Still, I can't get an offer.  I wish I could say the owners have it overpriced but it is priced great for the neighborhood.

Anybody have any ideas for me to get this one sold?  What could I do differently?

Most Popular Reply

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3,757
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Kenneth Garrett
  • Investor
  • Florida Panhandle/Illinois
3,109
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3,757
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Kenneth Garrett
  • Investor
  • Florida Panhandle/Illinois
Replied

@Chris Farrugia

You are in a no win situation.  Kitchens and baths sell homes.  Although it is a benefit to have a new roof it does not resonate with most buyers.  Try some inexpensive updates in the kitchen or if the funds are available update the kitchen.  

Good Luck.

  • Kenneth Garrett
  • Loading replies...