Do You Need Private Mortgage Insurance?

Do You Need Private Mortgage Insurance?

The Sneaky Secrets Every Antiquated Home Seller Should Know

by Luke Fields

To you, your home is just plain old. It is no longer the house you want to call home and you are more than ready to move on to something more modern and updated. As the owner of an older home, this puts you in an odd predicament when you decide to sell. You will be faced with making sure buyers see the home as more than just any old house. Even though old houses have their shortcomings and downfalls, there is a major market in real estate for houses that were built decades, or even a century, ago. Getting potential buyers to take notice of your old house is just a matter of knowing a few sneaky secrets of the real estate marketing trade. 

Selling an old house is all about marketing those "old-house" characteristics.

Old homes may be different, but different is not always a bad thing. Many times, you can find features in old houses that are just obsolete today. A few examples of old home features you may have which could be incredibly attractive to a potential buyer include things like:

  • wall niches
  • staircase landings
  • transoms
  • dummy butlers
  • stained-glass windows

If your home has any one of these features, dress it up and highlight it prominently in photos and ads. Just boasting these features could be the key to getting your old house recognized by the right set of eyes.

The secret to selling an old house lies in the descriptive words you use.

It is no big secret that any real estate listing should have a steady mix of descriptive and flowery content. You are essentially selling your house through words, so the right words will help the potential buyer envision the house as something they either want or are simply not interested in. There are words that you should be using to describe your older house that will automatically jump off the page at someone who is looking for an antiquated abode. Some of these word include vintage, antique, classic, traditional, retro, and even more designated terms like Gothic or Victorian if your house fits the bill.

You will always get bonus interest points from buyers if the home has modern updates.

People may enjoy the design appeal of an old home, but not so much the idea of living in a totally outdated structure that does not have modern features. Things like HVAC upgrades, modern plumbing, extra bathrooms, and even washer and dryer hookups are not found in all older homes. To make the best impression on buyers, make sure you always include mention of any modern upgrades.


About Me

Do You Need Private Mortgage Insurance?

Welcome to my website. My name is Larry Silva, and I want to talk a bit about private mortgage insurance. You may have heard the term PMI mentioned when you were in the process of purchasing real estate. When I first heard my lender talking about PMI, I was very confused. It was my realtor who sat me down and explained what private mortgage insurance was and when someone is required to purchase it. He told me that PMI is not lifelong insurance; it can be cancelled when the mortgage principal balance reaches a certain point. Once it was explained to me, private mortgage insurance was no longer a mystery or a confusing concept. I would like to pass on what I learned and hope that you find it to be of value.