Choosing to sell your home can be an exciting and life changing decision! To help you navigate the process efficiently and effectively, we have compiled a list of our top 10 home selling tips.
10 Home Selling Tips
Know the market. When putting your home up for sale, there are two types of markets you may be interacting with and it’s important to know the difference. A seller’s market is when there are more buyers looking for homes than actual homes for sale. This kind of market may increase home prices, therefore increasing the seller’s profit on their home.
The second kind of market is a buyers market, which is when there are more homes for sale than people who want to buy homes. This gives the buyer power to negotiate and make demands, like who covers the closing costs, repairs, or upgrades.
Plan for when your home sells. The time it takes to find a buyer and close the sale can vary. It is important to know what you are going to do once your home sells. This may include planning for situations in which the sale of your current home and purchase of your future home do not line up. For example, if your current home sells before you have purchased a new home, consider temporary housing options.
Set the right price. Setting the right price for your home is important. If priced too high, it may deter some buyers from even entertaining your listing, while too low may lead them to think there is something wrong with the property. A home inspection will allow you to have a thorough understanding of the condition of your home. Utilizing the price of homes with similar square footage, features, age, and location is also very helpful when gauging how to price your home. A qualified real estate agent can assist you in gathering comparable, recent home sales data to make an informed decision regarding the pricing of your house.
Looks matter. When a potential buyer enters your home, you want them to envision themselves making a life in this space. It is helpful to limit the number of pictures and personal memorabilia in your home. Keep just enough so it is lived in, but leave room for the potential buyer’s imagination. Think about the spaces that are the most crucial in a home buying decision and focus on organizing and decluttering those first. Some agreed upon spaces are the foyer/entryway, the kitchen, and living room.
Make necessary repairs/replacements. If the home appears to have too much damage, buyers may feel less inclined to make an offer or may wish to pay a lower price for the home. Use quick fixes to resolve any issues before showing your home. Keep in mind that over spending on repairs could result in you not getting the best return on investment.
It's what’s on the inside AND outside that matters. Earlier we discussed the importance of the interior spaces in your home; however, the exterior of your home is what makes the first impression. Doing some DIY landscaping and sprucing up the outside spaces, including the front lawn and porch, of your home can help impress and welcome potential buyers coming to showings.
Always be ready to show. Make a plan for how you want to show your home. Many people find listings via the internet and like to preview the home virtually using photos or a 360-virtual tour. If you are having in-person showings, it is best to keep your house tidy. Keep lighting in mind! Be sure your home is well lit using artificial lighting, natural lighting, or both.
Use illusions to your advantage. Think about what potential home buyers are looking for in a home. Many are looking for space and storage. During showing, keep storage spaces such as closets half empty for the illusion that they are more spacious. This will also deter the thought that they are small and easily filled. This applies to other rooms in your house as well! Keep in mind that too much furniture, or how the furniture is arranged, can change the appearance of a room.
Review offers. There are many different ways for people to pay for a home. When selling your home, it is important you go with the offer that best serves you. This may not always be in regards to the amount of money you will be receiving. One key point is to account for how long it will take to close if the buyer is financing.
Pick the right real estate agent. Finding the right real estate agent who is knowledgeable about the local market and industry can alleviate many of the stresses involved in the home selling process.
These tips are just a peek into the insight the experts at Coldwell Banker Hartung are ready to share with you! If you are ready to begin the process of selling your home click here to pick the best local agent for the job.
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