Over age 65? Watch out for these costly mistakes when selling your home.

By Robert Powell

Older homeowners get less money selling their houses. Here's how you can sweeten your listing to get more.

You've been living in your home for years. You've raised your family there. You've watched neighbors move out. Your children tell you what your home is now worth on Zillow and Redfin.

But when the time comes to sell, you're likely to get less for your home than a younger seller might.

Why? One explanation is straightforward. Homes sold by older people typically "have fewer major renovations and higher rates of poor upkeep," according to a recent report titled "Aging and Housing Returns."

But the study also highlighted two other factors that many older sellers may not fully understand. Older homeowners are "more likely to sell off-MLS," using private or pocket listings that never appear on the Multiple Listing Service database, and they are also "more likely to sell directly to investors rather than to individual home buyers."

Both practices, the researchers said, tend to depress sale prices.

These patterns suggest that older sellers may be hurt by agents who want to maximize fees by generating a high volume of sales rather than maximizing sale prices, the study said. The authors added that age-related cognitive decline can make older sellers more vulnerable.

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Selling a family home isn't just a financial undertaking - it's also emotional. "A home often represents decades of memories, but also deferred maintenance and missed opportunities to maximize value," said Mike Casey, a certified financial planner with AE Advisors.

The study results showed that poor maintenance contributed to older sellers receiving lower prices. That doesn't necessarily mean older owners should spend heavily on repairs. "Some may have limited cash resources, so it might make sense for them to allow the property to depreciate faster than a younger owner would choose to do," said Philip Strahan, a finance professor at Boston College and one of the study's co-authors.

When it comes to so-called pocket, or private, listings, the decision depends on each seller's situation. There may be good reasons for some sellers to list off-MLS, but some sellers, especially older ones, may not be aware that doing so can result in lower prices.

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Charles Sachs, a certified financial planner with Imperio Wealth Advisors, said he saw those dynamics firsthand when helping his 89-year-old father sell the family home before moving into assisted living.

"What the research describes rings true," Sachs said. "The condition of the home and the way it's marketed have a big impact on the final sale price."

In his family's case, timing mattered. They decided against major renovations that would have been costly and disruptive. "Instead, we focused on small, high-impact improvements that enhanced curb appeal and made the home feel well cared for," he said.

They began with a limited "coming soon" or private-network listing, because the home wasn't ready for photography or showings. "But the key was that this was a step, not the final strategy," he said. "Once the home was cleaned out and presented well, we moved to the full MLS listing - that's where you maximize visibility and typically see stronger offers."

Older sellers shouldn't feel pressured into tackling big renovations, Sachs said. The best results can come from "modest updates, decluttering and making sure the home reaches the broadest pool of buyers - not just investors or private networks."

Many of the reasons older sellers receive lower prices stem from challenges that come with aging, said Ralph Bender, a certified financial planner with Enduring Wealth Advisors.

One of the easiest ways to improve the sales price, Bender said, is to have the older homeowner move out before selling.

"This way the maintenance issues can be addressed, the inconvenience of public listings showing the home throughout the day is avoided, and it's more likely the home is in showcase condition when prospective buyers see it," he said.

Planning and preparation are key to maximizing returns.

"For many investors, their home is their largest investment. Their home may need to be monetized later in life to meet budget, spending and unforeseen medical expenses," said Jay Spector, a certified financial planner with EverVest Financial.

"Just like an investor plans for future retirement income, it's important to plan and budget for ongoing maintenance and periodic improvements well before you're ready to sell," Spector said. Even modest updates such as fresh paint, landscaping or replacing worn fixtures and flooring can meaningfully enhance a home's perceived value.

Read: Many young adults can't buy a house - and they'll pay for it in retirement

He also urged older homeowners to work with a qualified real-estate professional to bring professional expertise in pricing, market positioning and property preparation. "A good [real-estate agent] can walk through the home and point out practical maintenance items or cost-effective upgrades that will make the property more competitive in today's market," Spector said.

Using the MLS tends to increase a home's exposure and the pool of potential buyers, which can lead to faster sales and better offers. Maximizing the home's value supports long-term financial security.

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There are four things to keep in mind when undertaking this process, according to Casey.

1. Invest selectively in high-impact updates. "You don't need a full remodel, but modest improvements like fresh paint, updated fixtures, landscaping and professional staging can meaningfully boost perceived value," he said. A presale inspection, he added, "can also identify issues that might otherwise discourage buyers or invite low offers."

2. Ensure broad market exposure. "Selling off-MLS might feel more convenient, but it limits competition. Listing publicly through the MLS typically attracts more buyers and can lead to higher bids, even after accounting for agent commissions."

3. Carefully consider timing and representation. "Partner with an experienced real-estate agent who understands both the local market and the needs of older clients. They can coordinate repairs, manage showings and help avoid predatory investor offers that promise quick cash at steep discounts."

4. Align the sale with your broader financial plan. "Discuss with your financial adviser how sale proceeds fit into retirement income needs, tax strategies or relocation goals. Selling a home late in life isn't just a transaction - it's a financial pivot point that deserves thoughtful preparation and trusted guidance."

-Robert Powell

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