Whenever you understand as much as possible about your competitors, you’re in a better position, which holds especially true when concerning selling an old property. There are many differences between selling an old and new property, including the potential market value and final sales price, with the new property selling at substantially higher prices.
With a more thorough understanding of the differences between old property and new, the current available inventory, and recent sales history, you’ll be armed with the necessary information. If you’d like to learn more about these differences, read on as we explore the five differences between selling an old property and a new property in Greater Los Angeles.
1) Carrying Costs
Carrying costs, or holding costs, is one of the significant differences between selling an old property and a new property in Greater Los Angeles; typically, older properties cost more energy, maintenance, and unexpected repairs. You may also be carrying traveling costs and the expenses of another property if you’ve moved before selling. Professional buyers like those at Homesmith Group can help you understand the potential costs.
At Homesmith Group, our professional buyers provide a guaranteed closing date, often within days.
Another difference between selling an old property and a new one in Greater Los Angeles is that older properties tend to have an architecture with distinct features; if very few like yours are available, you could demand more. The professional buyers at Homesmith Group can help you understand your market position, target buyer, current market value, potential carrying costs, and more to help you decide on the best way to sell your property.
More modern technology and up-to-date safety in the materials used in new properties make them more desirable. This difference between selling an old property and a new property in Greater Los Angeles may mean that improvements are necessary to compete.
At Homesmith Group, our professional buyers buy properties as is, so there’s no need for the cost, hassle or time involved in improving your property.
4) Market Saturation in Greater Los Angeles
Regarding market saturdation, if older properties are flooding the market, you may need to adjust your sales price or make improvements to stand out. Professional buyers like those at Homesmith Group can help compare what you’d profit by listing as-is or making improvements vs. our offer for a direct sale. At Homesmith Group, our professional buyers will detail every figure used to make a cash offer that you’ll agree is fair.
Newer homes conform to more modern trends, another difference between selling an old property and a new property in Greater Los Angeles. Professional buyers like those at Homesmith Group can help determine if your property requires remodeling to current standards. At Homesmith Group, our professional buyers know this may be one of the largest transactions of your lifetime, and we want to help you make an educated decision about selling. We are your neighbors here in Greater Los Angeles and we are transparent at Homesmith Group because we want you to feel good about working with us long after you’ve left the closing table.
The #1 Easiest Way To Sell Your House Fast
Professional buyers at Homesmith Group know the differences between selling an old property and a new one in Greater Los Angeles. When you sell directly to a professional buyer at Homesmith Group, we make it easy and uncomplicated. At Homesmith Group, we’ll walk you step by step through the process, saving you time and money with our full-service in-house professionals. At Homesmith Group, we handle every transaction phase without closing costs, commissions, or hidden fees. If you have questions or concerns, including a request for a specific closing date, talk to one of the pros at Homesmith Group today without any obligation. Call Homesmith Group at (855) HOMESMITH (466-3764).