Pricing, Marketing, and Buying Unusual Homes for Sale
Ever seen (or bought) a home that used to be a church? A castle? A fire station. Now and then, such properties come onto the market. But are they are a good buy? How does the seller price or market the property? Here are some things to keep in mind when exploring unusual homes for sale.
1. Buyer beware. While the offbeat property may be a home you love first and foremost, it is also an investment. A home with a unique, unchangeable structural feature will likely turn off a large portion of the market. When faced with the opportunity to purchase a unique home, don’t get too caught up in the excitement of it all. Think long-term. Understand that when it comes time to sell, it may be a burden, particular in a slow market.
2. Sellers shouldn’t make assumptions. As the owner of an interesting or quirky home who is considering a sale, be aware that not everyone will love it like you do. Sure, you’re likely to get lots of activity, showings and excitement over your architecturally significant home. But a big portion of that may simply be curious buyers, nosey neighbors or tire kickers.
3. Get a good agent and have a serious marketing/pricing discussion. An offbeat home requires a unique marketing plan and pricing strategy as well as a good agent to help sell it. Keep in mind that interested buyers may not be in your local market. They might be an opportunist buyer open to a unique home. So you should consider advertising outside the mainstream circles. Media and press can help get the special home the attention it may need, too.