Split level homes are a popular home choice due to their unique layout, which splits the home into different levels. As a result, these homes have characteristics that make it difficult to place a price tag on them when selling.
When pricing a split level home for sale, it is important to consider factors such as age, condition of the house, and location. Here we will discuss why split level homes are harder to sell and provide tips on how to come up with an accurate pricing strategy:
What is a Split Level Home
Split level homes, popularized in the 1950s, are a unique and iconic style of house featuring multiple split levels. Generally, these homes have a wide entrance level that branches off into two staircases taking you to an upper and lower level. The shape of this home is distinctive, with three or four separate levels that give the house its name.
Split level homes provide distinct advantages such as a spacious and comfortable high-ceilinged main floor and the convenience of having bedrooms located at the complete opposite side or downstairs level. However, potential buyers often have difficulty envisioning how they would make use of the space since it can’t be easily renovated or redecorated without heavy work and expense. As such, this type of home often takes longer to be sold than other styles—hence why they are considered harder to sell.
It is important to take this into consideration when pricing your split-level home for sale. Working with an experienced real estate agent may help you determine an effective pricing strategy for your unique property. By doing your research on current market trends and pricing strategies for similar types of homes in your area, you can ensure that you get a fair price for your split-level home—and make sure it sells quickly!
Advantages and Disadvantages of a Split Level Home
Split level homes can be a great option for people looking for a unique layout and more living space. But there are a few challenges you should be aware of when it comes to selling a split level home. In this article, we’ll discuss the advantages and disadvantages of split level homes and why they may be harder to sell than other types of homes.
Advantages
Split level homes, also known as tri-level or multi-level homes, offer advantages and disadvantages unique to this style of architecture.
Split level homes have no internal stairs, so they are suited to those with limited mobility. In addition, the large windows provide a bright and airy atmosphere. With the extra space offered by a split level home, you can easily create two or even four separate living areas depending on how you choose to use the available floor space. Split level architecture also offers design flexibility: walls can be built, removed or repositioned at any time to suit personal needs.
On the other hand, split level homes are often harder to sell due largely in part to their awkward layouts and divided floors that generate confusion for buyers wanting an open floor plan. This type of home is more labor-intensive for builders; thus there’s generally less variety in these kinds of homes than say ranch styles which are easier and cheaper to build from scratch. Although aesthetically pleasing from outside, there’s usually not much curb appeal due to its unconventional shape when compared with traditional styles. Additionally, split-level homes have been known (depending on location) for having higher heating bills during winter months as common central furnace systems may be insufficient for adequately providing heat on all levels at once.
Disadvantages
Split level homes generally have more steps than other types of homes, which can create difficulty when it comes to accommodating people with limited mobility. Additionally, split level homes typically feature more interior doorways and less open kitchen/dining room spaces, which can make them appear dark and cramped by comparison to ranch style or Colonial style single story homes.
In some circumstances, it may be even more costly to renovate a split level home than it would be for a single story home. Oftentimes the higher roofing costs and the steeper angles associated with certain levels of a split level home may require professional help from contractors.
Furthermore, due to their complex structure, selling a split level home can involve added complications that not all potential buyers are willing to take on, including:
- Higher roofing costs
- Steeper angles
- More interior doorways
- Less open kitchen/dining room spaces
Why are Split Level Homes Harder to Sell
Split level homes present unique challenges for both buyers and sellers. They can often be difficult to price accurately, and are thus harder to sell. From their multi-level design to the tricky layout, there are a variety of hurdles to navigate when attempting to list a split level home for sale.
In this article, we will discuss some of the main reasons why split level homes can be difficult to sell:
Difficult to Furnish and Decorate
When it comes to why split level homes are harder to sell, one of the top issues is related to furnishing and decorating. Split level homes typically have awkward staircases, small rooms and narrow spaces that can be difficult and expensive to customize. With careful planning, a split-level home can be made more attractive, but this requires the help of an experienced designer who knows how to manage the flow of space and capture the homeowner’s personality while creating focused zones in each area.
Another issue that makes split level homes more challenging to sell is often related to appeal. Split level homes lack exterior charm as compared with raised ranch houses or traditional two-story designs which may have an open front porch or other features that lend curb appeal at a glance. This may mean that potential homebuyers will not even step inside for fear that the house does not meet their expectations from what they saw from the street.
Finally, another reason why split level homes are harder to sell is because it may take longer for buyers to fall in love with them. The unique design elements require time for people to adjust and consider living differently than what they originally thought about when looking for a house. Exploring various design options can help people open up their thoughts on how they could use space more creatively in these kinds of houses, but this requires patience on both sides – sellers must accept lower offers while buyers look around until they find something they truly like.
Limited Resale Value
Split-level homes typically have limited resale value due to the challenge of accurately pricing them. On one hand, they often cost less than two-story homes of the same size because the building design requires fewer walls and stairs and therefore less labor. On the other hand, a split-level home may not appeal to all buyers. These homes’ unique nature makes them difficult to market – and presents a challenge when it comes time to pricing the house for sale.
In addition, many potential buyers find split-level homes too compartmentalized and closed off which can make these types of dwellings seem cramped and confining. Buyers may also be avoided by additional expenses associated with several levels:
- higher heating costs in winter
- air conditioning costs in summer
- an elaborate staircase
- potential problems with moisture buildup in lower levels due to landscape water run-off or poor drainage techniques.
Finally, an important factor is that larger homes become more affordable by sacrificing lot size – something that generally is not possible with a split level home due to the footprint restrictions created by land elevation changes around the house. As a result, pricing a split level home accurately can be extremely challenging for both prospective buyers and sellers.
Unfamiliar Floor Plan
Split-level homes, otherwise known as tri-level homes, are unique because of the “split” level design in which the various living spaces are arranged. The typical split level home has a main entrance foyer at the top of a room or two steps higher than the main floor, with rooms split across different levels. This makes it appealing to many buyers due to its extra storage space and more efficient use of space compared to other floor plans.
However, when it comes time to sell a split level home; it can be harder than selling more traditional styles of houses. Many agents find them tricky to price and market because they are less common and offer an unfamiliar floor plan that potential buyers may take some time adjusting to. Additionally, buyers may see high prices for what feels like less square footage or turn away if hesitant about the perceived difficulty of changing around or modernizing an already unique space.
Moreover, navigating through the stairs connecting each level can give potential buyers doubt about accessibility for their family members or guests with limited mobility. Although convincing buyers that getting into this type of home is worthwhile is possible with skilled negotiations and sound marketing techniques; identifying the correct pricing strategy is key in order to attract serious offers and realize full market value on your split-level home.
How to Price a Split Level Home for Sale
Pricing a split level home for sale can be a challenge. Split level homes have unique architectural qualities, making them harder to predict what buyers will be willing to pay. Additionally, the right pricing of the home affects how quickly it sells.
In this article, we will discuss why split level homes are harder to sell and how to properly price it for a successful sale.
Research the Market
When assessing the value of a split level home, it is important to conduct thorough research on the local real estate market. It’s vital that you look at recent sales of comparable homes and use their sale prices as a baseline for pricing your own home. Evaluate factors such as age, size, location, condition, and upgrades of these homes relative to yours in order to determine an accurate value for your own property.
Consider the current economic climate and access local housing data reporting activity within your neighborhood or market – this will help you understand what buyers are looking for in a property. Keep an eye out for regional trends or macroeconomic developments like unemployment which can negatively influence property prices in certain areas.
Ultimately, the goal is to price your home competitively yet remain flexible based on potential buyers’ inquiries.
Consider the Location
The location of your split-level house can be a major factor in how much difficulty you have when pricing the property for sale. In highly populated urban or suburban areas, there may already be a saturated market for split-level homes. If there’s a limited number of potential buyers who are interested in purchasing this kind of home in the area, you may have to lower your asking price to appeal to them.
In contrast, if the structure is located within a desirable neighborhood, it may be much easier to quickly attract potential buyers and price the house at or near its approximate market value. The value and desirability of any type of house can be severely impacted by its position relative to nearby developments as well as any local schools, commute preferences and shops in close proximity.
When pricing a split level home for sale, it is wise to consider the following important factors before listing it publicly:
- Position relative to nearby developments
- Local schools
- Commute preferences
- Shops in close proximity
Hire a Professional Appraiser
Hiring a professional appraiser to get a value for your split-level home is recommended since it is harder to list and market than other types of homes. The appraiser will analyze the condition of both the interior and exterior of your home, as well as any updates you’ve made or structural damage that may have occurred since you purchased the property. Good pictures are also important and highlight any special features, including landscaping or updates that you have made to your home.
Also, having current sales data from comparable (Comps) properties in your area that were recently sold is an important piece of information in determining the current market value. A good appraiser will be familiar with local real estate market trends and they can present relevant information on them to help determine pricing with more accuracy. Once you have a good understanding of what prices are being paid for comparable properties, you can make an informed decision about how much you want to list your split level home for sale.
Conclusion
When pricing a split level home for sale, it is important to keep in mind that they can be more difficult to sell due to the fact that the layout may be considered outdated or lack features found in newer homes. Generally, split level homes need to be priced lower than other styles of comparable size and features.
Additionally, some buyers may be hesitant due to having additional work needed on unfinished areas or large staircases that may not meet modern building codes.
Ultimately, a real estate agent should always take into account the difficulty of selling a split level home before setting a list price. In order to increase its appeal, staging the property with an up-to-date look and providing renovations or repairs if needed are important steps toward achieving an optimal sale price at closing.
