If you are in the market to sell your home but don’t know how to get a reasonable price, this article is for you. Selling your home quickly and at a fair price can be challenging. But with these five tips, you’ll be able to do just that! These tips will show you what to do when selling your home so that it doesn’t take up too much of your time or money and still fetches top dollar in today’s competitive market.
Your home is more than a place to live; it also is probably your most significant investment. So when the time comes to sell, you want to complete the sale quickly and for a reasonable price. Here are a few tips:
Understand the Market
Are you in a seller’s market or a buyer’s market? If it is a seller’s market, then the average number of days a home stays on the market will be low, and houses will typically sell at or higher than their list price. If it is a buyer’s market, homes will stay on the market longer and sell for lower prices. Knowing which market is operating in your area will help you price the house correctly and negotiate effectively with potential buyers.
Put Your Best Face Forward
Take a look at your house as a potential buyer would. Consider what inexpensive repairs could dramatically improve the home’s appearance or desirability. Some repairs that typically are worth making are:
- Fixing damaged flooring such as torn carpet or softwood.
- Repairing water stains. You may know that the water stain came from an earlier repair, but prospective buyers do not. When they see water stains, they wonder if the home has plumbing or drainage problems.
- Doing some landscaping. First impressions are essential. If your yard appears well-kept, buyers will want to see the inside. They’ll also feel more comfortable that you’ve maintained the home if the yard looks neat. You don’t have to spend too much; hiring a landscaper to weed and apply fertilizer can make a big difference.
- Erasing pet damage. Replace scratched doors and carpets. You may also want to consider replacing or removing any furniture the pet has scratched. If buyers see any pet damage, they’ll be on high alert for carpet stains or pet smells. Also, buyers will be able to smell pet odors even if you can’t. Air out the home, scrub thoroughly, wash your drapes, put out potpourri, and temporarily remove the pet from the house.
- Making cosmetic repairs. Paint, re-grout, and repair torn window screens.
- Removing personal items. If you have your photos and personality pieces around, buyers will have trouble seeing themselves in the home.
Choose the Right Time to Sell
In most cities, homes sell better in the spring. This is because families want to move and be settled before the school year starts. Besides, spring is a more pleasant time to look than winter in most regions.
If you have the luxury of choosing the time, you also want to sell when you have enough equity in the home to allow you to move on to your next house more easily.
Avoid Being Emotional
Selling your home is a business transaction. Once you decide to sell it, think of it as a financial transaction rather than as selling a place where you’ve spent happy memories.
Consult a Real Estate Expert
Selling a home is trickier than selling personal property. Correctly pricing the home is essential. If you price it too low, you’re not receiving enough money. If you price it too high, buyers may not even make an offer. To price the home accurately, you’ll need an excellent understanding of the local market and a knowledge of what comparable homes in your neighborhood have sold for recently.
Negotiating with prospective buyers also can be challenging. You don’t want to give in too easily, but you don’t want to lose them either. Hiring a professional real estate agent who knows the market and negotiating strategies generally pays off in the long run.
The decision to sell your home is a big one. A lot of thought goes into this decision, and it can be daunting sorting through all the information available on how to proceed with selling your house. That’s why we’re here! We provide you with valuable information about how to list your home for sale, tips for staging it, what questions you should ask potential buyers, and much more. Are you thinking of selling your home? Let’s talk.
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