There are many factors to consider when selling your home, and one of the most important considerations is how much you can get out of it in return. While you might think that simply listing your home at a high price would be the best way to sell it quickly, this isn’t always the case. To help you get the most money for my home, consider these tips as you prepare it to go on the market.
What does my property look like?
You’ve probably taken a walk around your property and thought about potential renovations or upgrades, but how do you know if your home is worth it? The answer lies in its curb appeal. Though curb appeal can refer to many different factors—from paint colors to landscaping—for our purposes, we’re going to focus on how presentable your home looks from street view.
When you’re trying to sell a property, curb appeal is incredibly important because it can be one of (if not) biggest factors when buyers are deciding whether or not they want to stop by. As such, it’s vital that you maintain an attractive appearance even if that just means regularly washing windows and pressure-washing front steps.
The Saleability Factor
Location is everything when it comes to selling a house, so do you know what’s hot and what’s not in your neighborhood? Realtors consider four things when determining saleability (i.e., how likely a property will sell): size, condition, location and price. Some of these factors are beyond your control (the house itself), but some are certainly within your power: price. With that in mind, here are some tips for getting more money out of a home sale Get Pre-Approved for Financing: First off, have an idea of how much money you’ll need from a buyer.
It’s no secret that getting pre-approved by a lender will improve your chances of securing financing with any buyer; however, it can also give you leverage during negotiations if buyers don’t want to come up with their own financing. The more proof you have that someone else is willing to finance your home purchase—and at least match whatever terms they’re offering—the better off you’ll be during negotiations.
Consider Selling in Spring Not Winter
Whether you’re looking to move closer to work or a bigger house, it’s always a good idea to sell in spring, when buyers are most likely searching. Plus, homes typically sell faster in spring than fall. On average, properties usually sit on market for about 65 days in spring compared with about 95 days in fall. That said, if you want an even quicker sale and some extra cash—plus tax savings—consider listing your home around Tax Day April. Overall, March and April are by far the best times of year to put your house on market.
Do I need an agent?
Before you list, do a bit of research into whether an agent is right for you. The short answer is: it depends. It’s helpful to understand how real estate agents work and how they’re compensated before deciding if one will be worth their fee.
There are definitely situations where it makes sense to have a real estate agent in your corner (for example, if you have lots of experience selling houses or otherwise navigating tricky deals), but in other cases, paying someone just adds another layer of complexity. As with any service, make sure you know what your needs are and shop around before committing—you may find that not having an agent saves you money as well as effort down the road.
Pricing Strategy – Listing Price Vs. Asking Price
When it comes time to list your home for sale, you have two options: The Listing Price or The Asking Price. Which one is better? The quick answer is that it depends on market conditions and what you’re trying to accomplish. In general, however, Listing Prices are based on research conducted by regional real estate agents who look at recent sale prices in a neighborhood and adjust their own listings according to market conditions.
Asking Prices represent an attempt by sellers (or their Realtors) to set an asking price at what they believe will be a reasonable level—one that doesn’t demand compromise on other key terms of a transaction. Here’s a detailed breakdown of how both strategies work in today’s housing market Inventory Rates – Inventory rates can vary widely from region to region, but as a general rule, inventory rates indicate how long it would take for all homes currently listed on the market to sell.
If there were no new homes coming onto the market and all homes sold at current listing rates, local inventory rates would remain steady. Of course, that rarely happens. What typically happens is that more new homes come onto the market each month than sell; thus inventory rates increase over time as fewer months’ worth of supply remain available on average.
Optimizing Your Home For Showings
Although curb appeal is important, it’s not always a make-or-break factor in selling your home. Instead, focus on making sure that your house looks its best inside and out before each showing by addressing any issues quickly. Ensure that carpets are vacuumed, dust is removed from door and window frames, mirrors are wiped clean, bathrooms sparkle and sinks shine. All of these small details will help you get top dollar when it comes time to sell.
Real estate agents aren’t lawyers, and since they make money off their commission, there’s an incentive for them to steer you toward a quick sale—even if it doesn’t give you all you can get. To avoid scams, do plenty of research on what your house is worth and consult with a real estate agent who will act in your best interest.
Don’t let anyone pressure you into putting a number on how much money you need out of it right now. If something feels off, be smart and look into someone else. There are plenty of ways to find trustworthy professionals in any field; don’t be afraid to ask around or go online with specific questions! There are good we buy houses companies you can choose from to buy your home.
Tips on Remodeling Before Selling Your Home
Remodeling your home can make it more appealing and increase its value, but don’t go overboard. If you’re selling in a tight market, remodeling—while necessary—can also be expensive if you don’t choose wisely. Choose projects that will have a positive impact on potential buyers and be sure they won’t impact resale value. Your goal is to spend as little money as possible without impacting resale value of important features, like an open floor plan or good-sized windows.