Many strategies exist for homeowners to sell their homes and make more money in the process. These strategies involve time, planning and money. Notwithstanding, some factors are necessary to consider if you desire to sell your home and net the most money possible, irrespective of whether you are trading up, downsizing or relocating.
Here are easy ways to make more money selling your home:
Set The Right Price
Determining the correct price is a crucial factor which must be considered in a home sale. If the asking price is too low, you will be giving buyers the impression that your home has some undisclosed problems. When an asking price is too high, interested buyers will be unwilling to consider your home for purchase. If you think you can come down to attract additional buyers to become interested in your home, yes that’s something that you can do. But there is an underlying problem with that technique. Here it is. Buyers will be leary why there was a price reduction and then consider possibly submitting a “low-ball” offer. The theory is simple, the buyers that are interested in your home and find out you reduced the price then they’ll think the seller must be super motivated or the pressure is beginning to mount. To overcome this challenge, request for assistance from local Realtors that specialize in your area, since they have the relevant information at their disposal.
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Sell At The Best Time
To make more money from the sale of your home, consider selling at the most preferred season. Many home buyers prefer to buy their homes in the spring and summer. It has also been observed that there is a decline in the demand for home buying in the fall or winter. Having said that there are still homes that will sell in the winter. Statistics do show that the number of home sales will decline by 25%-40% during the months of November through February. there is a silver lining to the last couple of sentences. First, there will be less competition of houses on the market. With a lower inventory of homes on the market that should allow the homeowner to sell quickly and at or above listing price. However, patterns of seasonality vary with different markets.
Decide How To Sell The Home
Most homeowners hire real estate agents to assist them in marketing their homes and negotiate with the buyer’s agent. Alternatively, you can sell your home by yourself as a For-Sale-By-Owner or FSBO. In this case, you perform the entire process of completing the sale.
of other homes; FSBO homes sold at a median of
$190,000 in 2017 (up from $185,000 in 2016),
and still far lower than the median selling price of
all homes at $249,000. Agent-assisted homes sold
for a median of $250,000.National Association Of Realtors Profile of Home Buyers and Sellers
Yes, you can try to sell your largest investment By Owner and you can try to save the real estate commissions. That is a true statement. What also is a true statement is by trying to sell By Owner you can also lose money. By looking at the survey above there is a $60,000 difference in the For Sale By owner median sold price and the agent assisted median sold price. That’s only half the problem of selling by owner. Selling real estate has become very litigious because forms were incorrectly filled out or not filled out at all and the buyer or seller have become upset and it ends up in the court system.
Know The Your Net Proceeds
I’ve already written about “Closing Cost When You Sell a Home In Grand Rapids“. Check this information out and it will help you determine approximately what your net proceeds will be or if you like how much will your check be at closing.
Sellers Make The Necessary Renovations Or Repairs
Embarking on home improvements is highly essential as it improves its value and marketability. Necessary renovations, repairs, and replacements should be carried out so that your home can be more competitive on the market.
Here are the three things that buyers are thinking about and looking for when they look at your home.
- Visual Appeal (exterior of house, landscaping, spaciousness, cleanliness, fresh paint, updating, lack of clutter)
- Maintenance (everything in good working order, nothing to repair or replace.)
- Safety (locks and deadbolts, doors and windows, burglar/fire alarm, how busy is the neighborhood)
If one or all of these falls short then that will send up a red flag and “No Sale” for your home. A little elbow grease or getting to all the deferred maintenance around the house could add up to thousands of dollars in your pocket. Who in today’s world can afford to leave that much money on the table?
Ensure Interior and Exterior Cleanliness
A clean house will attract prospective buyers and they may even make higher offers, due to the love they develop towards it. When carrying out declutter, concentrate on areas like your cupboards, closets, and garage.
Additionally, it is important to depersonalizing your home. You can achieve this by removing every item that can be offensive to prospective buyers. So you ask what’s offensive? My guess if you need to ask then chances are that the certain item you’re asking about is offensive and should be taken out of the house. Remember, the one person that will pay you your asking price gets offended and walks out in disgust. You’ve just lost money.
Consult a Professional Stager
The service of a professional stagger is highly required to make intending buyers have a positive first impression about your home. By staging, your furniture and home accessories are arranged in a unique manner. A professional will bring their staging materials like fresh artwork, lamps, knickknacks, even tables, and chairs, to make your home more appealing.
