In this current housing market, it’s difficult to find a home at market value, let alone below market value. But, what if I told you that there’s a way for you to find a house at a steep discount? The only catch is that you’ll have to have some roommates. Ghostly roommates.
The type of house that I’m talking about is a haunted one. There are numerous houses across the United States that are described as “haunted.” Because of this reputation, these houses are often difficult to sell at their market value, which could provide a great buying opportunity for a willing buyer in this housing market.
However, is buying a haunted house really the best move? And, for those who happen to already own a haunted house, how do you go about selling it? In this article, we’ll go over why haunted houses are so difficult to sell and what options haunted house owners have with their homes.
Haunted Houses are Difficult to Sell
As you can imagine, not everyone is lining up to live in a home that is potentially haunted. In addition to the ghostly reputation, many of these ‘haunted houses’ usually have tragic backstories, such as a grizzly murder, that spawned these urban legends. These types of events would make the home a stigmatized property – a property psychologically impacted by an event which occurred or was suspected to have occurred, on the property, such an event being one that has no physical impact of any kind (National Association of REALTORS®).
Between ghost sightings and a potential violent history in the home, the demand for the home is likely not going to be very high. As such, the price of the home declines to a price that sways potential homebuyers. And, if the price comes down just enough, owners still might be able to sell their haunted home.
Zillow found as much to be true. In a survey, the company found that 35% of potential homebuyers would buy a haunted house if the price was lower than the market.
It’s also worth noting that each state has different regulations regarding disclosures of events that took place on the property. However, not all states require the seller to disclose stigmatizing events that took place on the property.
Haunted Houses Garner Unwanted Attention
While the negative reputation may turn off potential buyers, it won’t deter visitors. In fact, the ghost stories of the home would likely attract a lot of unwanted attention.
In addition to dealing with the ghosts in your home, you may also have to deal with amateur ghost hunters and other curious strangers wanting to see your home. Many of these haunted homes have rich histories or ghost stories that capture nationwide attention. This was the reality of the homeowners of the original Conjuring house.
Norma Sutcliffe and Gerry Helfrich were the residents of the home in Harrisville, Rhode Island. In 2015, they filed a lawsuit against Warner Bros. for “The Conjuring” film. In the lawsuit, they claim that the film resulted in countless unwanted visitors trespassing on the property, with some actually causing property damage.
Sutcliffe told the Boston Globe: “I’ve had fences broken down and had people try to break in … I fear the worst every single day… It won’t end. It’s like Amityville … Can you imagine the horror of trying to sell this house?” (The Verge)
Real estate agents also have issues with this. Los Angeles real estate agent Arto Poladian says that, for haunted houses, he does not show the home unless the potential buyer undergoes a pre-screening and shows proof of funds. “In today’s day and age, when you have a listing like this, it attracts social media wannabes, who will break out their camera and take a video of themselves,” he says.
Haunted Houses are Usually Dilapidated
In addition to negative reputations, many ‘haunted houses’ are old and dilapidated, making it difficult to fetch higher prices on the market. Often, houses with these reputations are part of very old estates, where the individuals neglected the home for years. Due to their condition, it would be very difficult for them to fetch high offers on the open market. Anyone who buys the home may need to invest more capital into the house so that it is even habitable.
Capitalize on the Reputation
There are various ways that homeowners can look to shed their home’s reputation. The homeowner could look to change the house’s address to make it more difficult for strangers to find. Some real estate agents look to “home energy clearers,” which are used to cleanse a home’s aura. And, if a seller is desperate, they may look to withhold information about the house’s past in order to make a sale, which is legal in some states.
However, while some homeowners may look to erase their home’s history, it may be most beneficial to them to embrace the negative reputation. By leaning into the haunted aspect of their home, the home may be less of a financial burden.
Sell It to a Fan of the Supernatural
However, not all ‘haunted house’ owners look to sell their homes at a discount. In fact, some owners actually look to capitalize on the reputation and make the ghosts in their home work in their favor.
Surprisingly, there are some people who actively look to buy houses that are haunted. One Zillow survey found that 29% of prospective buyers said that they would be more likely to buy a home if it were haunted. I guess some people just enjoy the quirkiness of having ghost stories to tell about their homes.
Funny enough, the original Conjuring house was sold for $1.2 million in 2022 to a developer with a “deep belief in the paranormal” (Mass Live).
Turn the Haunted House into a Tourist Attraction
It’s likely a matter of luck to find a person willing to buy a haunted home. While selling it would be difficult, owners have another option to capitalize on the home’s reputation: making their home into a tourist attraction. Doing so would allow the owner to monetize all of the attention that the house is receiving.
There are numerous haunted houses that have become very successful tourist attractions, hosting thousands of visitors per year. With ghost hunters and horror fans looking to visit, the homeowner can easily charge for guided tours of the property. In some instances, owners charge admission for self-guided tours, which is extremely cost-effective.
Let’s just look at some of the more prominent haunted houses in the US.
Winchester Mystery House
The Winchester Mystery House is a beautiful Victorian mansion in San Jose, California. Originally owned by the creators of the Winchester rifle, the home is rumored to be haunted by all those killed by the firearm. Part of the legend is that the house’s owner, Sarah Winchester, continued increasing the size of the home to please these spirits. In doing so, she created a maze-like structure in her home, with very quirky features. Some of these features include hallways and stairways to nowhere and even doors that open to a multi-story drop to the outside. All in all, according to ABC News, the house has “10,000 windows, 2,000 doors, 47 fireplaces, 40 staircases, 13 bathrooms, and nine kitchens.” Today, a tour of the mansion is over $40 per adult.
Villisca Axe Murder House
In 1912 in Villisca, Iowa, an ax-wielding maniac attacked and killed eight people, including six children. To this day, no one has been charged with this crime. Today, it is said that the spirits of these victims haunt the home as a result. Today, the town of Villisca actually promotes the house as a tourist attraction on its website. Day tours of the house are $10 per adult, with overnight stays costing $428 for groups of up to 6 people.
Lizzie Borden House
In 1892, another ax-wielding maniac was responsible for the death of two people: Andrew and Abby Borden. The police’s primary suspect was Lizzie Borden, their daughter. Lizzie would stand trial for the murders and be acquitted. Despite not being charged, public opinion painted Lizzie as a murderer. Now, the home, in which the murders took place, is said to be haunted by the spirits of Lizzie and her parents.
Today, the Lizzie Borden House in Fall River, Massachusetts is a bed and breakfast. You can actually spend a night in Lizzie Borden’s bedroom for close to $300. If you can’t stomach the overnight stay, you can do a day tour for $35/person.
The Sallie House
The Sallie House is an unassuming, run-down house in Atchison, Kansas. Despite its innocent appearance, the home is said to house a demon that takes on the persona of a little girl named Sallie. Several residents of the home have reported ghostly occurrences, such as possessions and scratches on their bodies. There is also evidence that satanic rituals took place in the basement of the home. Today, the town of Atchison promotes $20/person self-guided tours of the home on its website.
As you can see, even a dilapidated home like the Sallie House can generate revenue for the owner. While it may be morbid, with some creativity, owners of a haunted house could market the tragic pasts of their homes for viewing, which can be financially beneficial.
Sell the Movie Rights
Numerous real-life ghost stories have made it to the big screen. Just take a look at “The Conjuring” movie franchise. The horror movie franchise is based on the various cases of paranormal investigators Ed and Lorraine Warren. As of 2023, the franchise is worth over $2 billion, with no signs of it ending anytime soon.
While launching a successful movie franchise may be a stretch, selling the rights of the story to a book publisher or even a filmmaker is in the realm of possibilities. There have been many cases where a stigmatized house generated revenue off film or book rights.
A very recent example is the Netflix television series The Watcher. After moving into their new home in Westfield, NJ, the Broaddus family began receiving a series of threatening letters from an unknown stranger. These letters gained national media attention, which cemented the home with a negative reputation. This resulted in the family having trouble selling the home. In July 2019, the Broadduses were finally able to sell the house at a significant discount. The family sold the rights to their story to Netflix in order to recoup some of their loss on the house. In this case, selling the rights to their story allowed the family to make the best of their situation.
Can Houses Actually Be Haunted?
In my personal opinion, no. I don’t believe in the ghost stories associated with many of these houses.
Many notorious ghost sightings and reports have largely been debunked. Let’s just take a look at most of the source material for “The Conjuring” franchise. Over the years, there has been much criticism and controversy surrounding the Warrens and their accounts. Here are just a few:
The homeowners of the original Conjuring home have dismissed its ghostly history. It is believed that much of the Amityville case was fabricated in order to publish a book. As a result of the case that inspired “The Devil Made Me Do It,” the Warrens faced a lawsuit for allegedly performing an exorcism over an individual with a mental illness, thinking it was a possession. And, there are even more severe allegations against the couple, including them being con artists.
With the validity of more prominent haunted houses in question, it’s hard to believe that the majority of haunted houses are legitimate. It’s likely that those making claims about the property either have an ulterior motive (like building publicity for money) or have misidentified an explainable phenomenon.
To this day, there is no concrete scientific evidence to support the existence of ghosts. Scientists claim that individuals are quick to point to ghosts as the cause of unusual occurrences instead of considering more realistic possibilities. Those possibilities can include sleep paralysis, hallucinations, or pareidolia (Science News Explores).
Bottom Line
If you’re looking to buy a home, even with a discount, it might not be worth buying a home that’s haunted. Even if ghosts don’t exist, the unwanted visitors on the property and the dilapidated state of the house are two big turn-offs. These two aspects alone could make the house difficult to sell again in the future. There’s also the fact that many of these haunted houses were the sites of violent crimes like murder. Unless there’s a significant discount, having a former crime scene as a home isn’t too appealing.
If you’re looking to sell your haunted house, best of luck. While there are some individuals looking to have ghosts as roommates, many people likely will have a hard time looking past the home’s reputation to buy it. To make the best of a bad situation, haunted homeowners could look to monetize the ghost stories and charge the public for tours and viewings. As you’ve seen above, a number of haunted houses already do this. They could also look to sell the rights of their story for a potential book or movie. As you can see with “The Conjuring,” ghost stories don’t even have to be real to sell movie tickets.