The "Convenience Trap": Why Selling "As-Is" Might Be Your Most Expensive Mistake

Home is their biggest financial asset for most homeowners. Once sellers reach about age 70, they get lower sale prices for their houses compared with younger owners (ref: Center for Retirement Research at Boston College).

A typical home price of $405,400 might get a 5% lower price = $20,270.

Once sellers reach about age 70, they start getting lower sale prices for their houses compared with younger homeowners. Compared to sellers in their 40s and 50s, an 80-year-old homeowner gets a 5% lower price for a house held for over 11 years.

In 2024, there were 65 million baby boomers, now 60-80 years old. Older homeowners are largely staying put. Between 38%-40% of homeowners in the US are free and clear of a mortgage, and most want to age in place, according to Freddie Mac.

Why do older sellers see lower returns

When a buyer walks into a Millennial house, it is adorable. It has trendy furnishings, painted walls, anda kitchen that loves you. But sometimes the windows are original, the furnace is old, no insulation, an older roof is older, but inside looks like HGTV, where they’ve all been trained.

Homes sold by older owners often show signs of deferred maintenance or fewer upgrades. When they’ve lived there for 20 years, style is less important. Usually, the roof and windows have been replaced, plumbing repaired, and probably a newer HVAC. But, we still have pink tiles in the 1957 bathroom, along with the 50’s kitchen. In a ‘done for you’ society,’ that costs them.

Older homeowners are more likely to sell through private, off-market listings — non-MLS. Sites like Open Door, Homestead Row (Don’t call a Realtor, call a buyer….), We Buy Ugly Houses. Those are investors who offer cash, and the homeowner doesn’t even have to move a coffee table. Those companies adjust pricing for repairs and updates that a home needs to catch a higher price.

Median home equity for age 65-plus is $250k

For many homeowners, their house is their largest asset as they head into retirement. Home equity for homeowners age 65+ is $250,000, which is the limit for non-taxable passive income. As Americans stay healthier and live longer, more are selling later in life.

In the 70-to-78 age group, 38% of homeowners have owned their house for 21 years+, according to NAR's 2025 Home Buyers and Sellers Generational Trends report. In the 79-to-99 age group, that share is 44%. That group sold their house for under 90% of the listing price. These sellers are unlikely to offer incentives to buyers because they are on a fixed income, and it all counts.

Retirees see their neighbors selling for high prices, but aren’t aware of what went into selling at that price. Once a homeowner has a price in mind, that becomes real money to them. Anything less seems like losing money.

Cosmetic updates are put off, thinking that buyers won’t notice, but that is the first thing that they see. Planning ahead with a pro makes it easier. The decluttering and parting with old treasures is the hard part. “Nobody wants your stuff.” That includes the comfortable 30-year-old couch and collections.

There are companies that offer updates and remodeling to be paid at closing. This can take the weight off the seller, as long as the fees are reasonable. It’s always smart to check reviews, the website, and the Better Business Bureau to ensure that the company is ethical and reliable. Door-to-door sales and ads on Next Door aren’t always the best choice. I know of one shower installer who advertises a median bathroom remodel at $26K, then charges $24,000 to swap out just a shower, leaving the other half of the bath to the homeowner. That would be a no.

There could be reasons for the lower sales price to be a reasonable trade-off. The homeowner may have a health condition that doesn’t allow for people in and out of the house, or the out-of-pocket expenses don’t justify the return. Maybe “as is,” is a fair exchange for the discounted price.

Homeowners have options. It’s most important to understand what conditions and amenities are worth how much, and what a home seller can do to make sure that they get a fair value for their home, and what their next step is.