Why are split entry homes harder to sell?

Split-level homes are harder to sell because of a combination of the age of their owners and the age of the actual houses. A large older population trying to sell many split-level homes creates abundant supply, while their dated decor combined with wear and tear lowers demand.

upnest.com - Why Are Split Level Houses Hard To Sell? - UpNest

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Trying to sell split level houses?

Selling a home can be challenging at the best of times. It may be even harder to sell a split-level house than other home types today. What are they? Why is that? What can you do to sell split level houses faster and for more money?

What Are Split Level Houses?

Split-level houses are not just a multi-story home. The term specifically applies to houses which were built with two levels of living spaces. Typically, the front entrance is on one level. Followed by two shorter sets of stairs. One down and one up. Family living areas and kitchens are often on the lower level. Often with a sunken living room. Bedrooms and master bath are typically on the high level.

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Why Did They Build Them?

If split level houses are less desirable and harder to sell today, why did they build them?

Split-level homes became a thing between the 1940s and 1970s. At the time it was a more unique design. Some affluent home buyers had them custom built. The primary drivers of designing and building this style of home were reportedly making the most of smaller building lots and building on sloped lots in new suburban communities. Some say they were cheaper to build.

Why Are Split Level Houses Harder To Sell Today?

Age might have a lot to do with it.

Homeownership rates are the highest among older generations. According to a Harvard study, over half of America’s homes are now headed up by someone at least 50 years old. Data from Zillow predicts at least 21 million homes will soon hit the market as boomers age and pass on. This means a high percentage of owners of split level houses who will soon need to relocate. Few may be wise to buy new homes that have stairs because of their age and health. An oversupply of this specific type of home will mean more competition among sellers.

Dated

Most of these homes were built many decades ago. Some sellers may have lived in them since they were built. Dated homes can be harder to sell. This can apply to the design, floor plan and decor. Buying one of these homes may bring very high repair costs, especially if there is asbestos or lead paint. More if roofs, electrical and plumbing systems haven’t been replaced recently.

The Bottom Line

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Tips For Selling Your Split Level Houses

So, how do you sell one of these split level houses?

1. Get a Great Real Estate Agent

The Realtor you choose will make all the difference. Find one who has sold split-level homes before. One who knows the right buyers for this type of property.

2. Sell the Benefits

The Construction Marketing Association says there are benefits of split-level homes. One is having more living space compared to neighbors with the same lot sizes. Another is separating living spaces. Shout about the benefits in your home listing. Realtor.com even suggested split level homes would start making a comeback in 2016

3. Redecorate

A modest makeover might help do wonders for your home listing. Start with the landscaping and curb appeal. Repaint the front door and updated the hardware. Repaint interiors. Consider home staging with modern furniture, window coverings, and accessories. UpNest Network Realtors will help you with planning your home staging and the professional real estate photography that will make your house listing stand out and be appealing.

Agents Compete, You Win.

4. Remodel

If you have the funds, some remodeling may add a lot of appeal. Windows, porches, flooring, bathrooms, and appliances may all be more than ready for a refresh. Just make sure you are consulting your Realtor in advance. They will help you determine which items will really help you get the best return on your money and warning you which may not be a good investment.

Make The Deal Irresistible

There may be only so much you can do to increase the visual appeal of a split-level home. In some rare tearing it down to create a clean slate for a new home may be even be the way to go. If that’s not an option, then do everything you can to make the terms of the transaction more attractive than competing homes for sale.

Consider Seller Financing

It’s still not easy to get a mortgage out there. Many aspiring home buyers just don’t want to bother with the banks anymore. Even if they are well qualified. Consider some form of seller financing that will make your listing a huge hit. More buyers mean being able to justify a higher sales price.

Price It Better

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The other alternative is to price it lower to sell faster. With the right pricing strategy you may even be able to create a bidding war for your split level home.

Throw In Agent Bonuses

UpNest network agents offer fantastic savings on traditional Realtor commissions. Consider using some of that free money to motivate other brokers to bring you buyers who can close super fast.

Bonuses For Home Buyers

You can use some of the thousands of dollars you can save with an UpNest network agent to really pack in the appeal and value to buyers. You could use some of it to offer to cover buyer closing costs, give repair and upgrade credits at closing, pay for the first 3 to 6 months of mortgage payments, or throw in a home warranty or smart home technology package.

Summary

Selling split level houses can be an extra challenge. Fortunately, there are a variety of ways you can modernize and add visual appeal. Or make the terms so attractive that buyers simply can’t refuse. If you are looking for help on your real estate journey, UpNest, which is owned by parent company Realtor.com, is a no-cost service for home sellers and buyers to find the best real estate agents locally. The UpNest platform allows you to compare multiple agents in your area so you can compare reviews, commission rates, previous sales, and more. Our network agents have been carefully vetted and often offer competitive, lower than average commission rates to UpNest customers. There is no obligation to sign up with one of our network Realtors, but when you can potentially save thousands on commission – why wouldn’t you? If you’re ready to get started, just enter your zipcode below!

Agents Compete, You Win.

upnest.com - Why Are Split Level Houses Hard To Sell? - UpNest

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