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 North Carolina.
Carrying Costs
Carrying costs, or holding costs, is one of the significant differences between selling an old property and a new property in North Carolina; 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. The most obvious difference is the age and condition of the property. An old property is typically one that has been previously owned and may have undergone wear and tear over time. In contrast, a new property is recently constructed or built and is usually in pristine condition. Professional buyers like those at Tarheel Home Buyers can help you understand the potential costs.
At Tarheel Home Buyers, our professional buyers provide a guaranteed closing date, often within days.
Rarity
Old properties often have historical or architectural value, which can be appealing to certain buyers. This historical significance can contribute to the property’s charm and potentially impact its value. New properties typically lack historical value but offer modern amenities and design features. Another difference between selling an old property and a new one in North Carolina is that older properties tend to have an architecture with distinct features; if very few like yours are available, you could demand more. But old properties may require more maintenance and repairs compared to new properties. Buyers of old properties may need to consider potential costs for renovations, upgrades, or fixing any existing issues. New properties, being in better condition, typically require minimal immediate maintenance and repairs. The availability of old and new properties can differ depending on the location. In established neighborhoods or city centers, old properties may be more common, while new properties are typically found in developing areas or newly constructed communities. The location preference will vary depending on individual needs and preferences. The professional buyers at Tarheel Home Buyers 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.
Modernity
More modern technology and up-to-date safety in the materials used in new properties make them more desirable. New properties are usually built with energy-efficient features, such as better insulation, energy-saving appliances, and advanced heating/cooling systems. These features can lead to reduced utility costs for the buyer. Older properties may require upgrades to improve energy efficiency, which could involve additional expenses. This difference between selling an old property and a new property in North Carolina may mean that improvements are necessary to compete.
At Tarheel Home Buyers, our professional buyers buy properties as is, so there’s no need for the cost, hassle or time involved in improving your property.
Market Saturation in North Carolina
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 Tarheel Home Buyers can help compare what you’d profit by listing as-is or making improvements vs. our offer for a direct sale. At Tarheel Home Buyers, our professional buyers will detail every figure used to make a cash offer that you’ll agree is fair.
Layout
Newer homes conform to more modern trends, another difference between selling an old property and a new property in North Carolina. Professional buyers like those at Tarheel Home Buyers can help determine if your property requires remodeling to current standards. At Tarheel Home Buyers, 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 North Carolina and we are transparent at Tarheel Home Buyers because we want you to feel good about working with us long after you’ve left the closing table.
Professional buyers at Tarheel Home Buyers know the differences between selling an old property and a new one in North Carolina. When you sell directly to a professional buyer at Tarheel Home Buyers, we make it easy and uncomplicated. At Tarheel Home Buyers, we’ll walk you step by step through the process, saving you time and money with our full-service in-house professionals. At Tarheel Home Buyers, 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 Tarheel Home Buyers today without any obligation. Call Tarheel Home Buyers at (984) 206-3532.