Selling your home requires a lot of work. A lot of media makes it out to be something that you can take care of quickly, reaping the rewards of your appreciation and home value.
In reality, though, there are a number of things you have to take into consideration. We’re going to take a look at some tips for selling your house in this article, giving you an idea of what to do. We’ll also look into what you should avoid doing throughout the process.
Let’s get started!
Step One: Finding Opportunities for Value
If you have a little bit of time to sell your home, you’ve got a great opportunity to make adjustments that will make you a lot of money.
Homes are one of the best possible investments for the simple fact that they naturally appreciate in value. That process requires time, so there isn’t too much that you can do about it. That said, simple adjustments or small renovations can make a big impact on how much you get for your home.
Some projects require more time and effort than others, but there are bound to be a few surefire ways that you can invest in your home for a great return. Let’s look at a couple of ideas on how to do this.
Identify Existing Issues
The first way you can improve value is to fix anything that is clearly out of order. A home inspection will give you a good idea of any issues with the foundation or other structural issues.
Essential damages or necessary repairs can drop the value of your home a great deal. So, if there’s anything that needs fixing or will require repairs soon, try to get that taken care of. The nice thing about this is that it will make your home more presentable.
The investment might not reap a lot more in home value than you put into it, but a sound home will sell quicker. On the other hand, cosmetic repairs should bring in more than you spend on them.
Repairing the old shed in your backyard and making it beautiful might boost value, for example. Adding a new coat of paint to the interior and exterior will do the same.
Basically, any area of your home that’s in disrepair should be repaired. You can speak with a professional about options for those repairs that will yield the highest return on investment.
Renovate Key Rooms
Renovation might sound like a lot more effort than it’s worth. That said, changes to the kitchen and bathrooms in your house can lead to big increases in home value.
Adjusting the style of those rooms to fit modern trends will make your home more attractive. The ROI of those investments tends to be pretty high as well. You can save some money by trying to make those renovations yourself, but working with a contractor will streamline the process.
The beautiful thing about working with a contractor is that the process is pretty hands-off for you. You hire them, they do the work, they leave, and your home value goes up.
It’s not as much of a painstaking process when you hire someone to handle it for you.
Hire a Staging Company
One mistake that a lot of people make is decorating their home on their own. That, or they leave the home as-is while they’re showing it to potential buyers.
While your home is sure to have a lot of personal charm, it might be a turn-off to buyers who feel like they’re “taking” the home from someone who already lives there.
The objective should be to decorate and furnish your home in a way that feels liveable. It should also be neutral enough for potential buyers to imagine themselves living in it.
Staging companies are a great help in this regard because they have access to all of the furniture and decorations you could ever need. They’re also privy to the styles of the day, so they’ll be great at decorating in a way that’s appealing to a wide audience.
Working with a great decorator can help to increase the asking value as well. When the home looks excellent, buyers will be willing to pay more for it!
Step Two: Find a Realtor
It’s possible to sell your home without the help of a realtor. That said, the process is difficult, and there are a lot of little things that might cost you money if you go it alone.
A good realtor can help list your home, advise you on different steps to take in order to increase value, and get your home off of the market in a reasonable amount of time. Additionally, realtors can help a great deal with the negotiation process.
Odds are that the buyer will have a professional working on their behalf as well. The goal of the professional is to get the client as much money for the home or save as much money on the home as possible. The angle depends on who the realtor is working for.
They have a vested interest in getting you the best deal because their pay is dependant upon it. Most realtors will take a percentage of the sale price, so they do their best to get as much money for your home as possible.
The result is so significant that the amount you pay the realtor is marginal. They’ll get a far better price for the home than you would be able to get if you went through the process alone.
One area that independent sellers have trouble with is listing the home in appropriate areas. Home listings aren’t things that you can just sign up for. There are a few sites that allow you to list your home on your own, but the buyer market is smaller.
Realtors like the ones at Triangle Real Estate have connections that allow them to list your home in various places, giving you a much better chance of getting the home off of the market. The more people that see your home, the more competition there will be to buy it.
That might mean you get an offer that’s high above what you asked for. When there’s competition, prices increase.
Alternatively, selling your home on your own might draw buyers, but you’ll have a much smaller chance of getting the full asking price.
Things to Avoid
Millions of people have gone through this process before you, so there’s a good account of things that you should avoid doing. Some small mistakes can lead to massive hiccups down the line.
Let’s take a look at a couple of things that you should steer clear from doing.
Selling your home involves a few key steps. Some of those might seem arbitrary, but there’s a good reason that they need to get done.
For example, the idea of a home inspection might seem silly to you. You’ve lived in the home for long enough to know that it’s safe, so why would you need confirmation?
Failing to do an inspection is a suspicious thing to potential buyers. They might wonder what you’re hiding, even if the home is perfectly fine. Further, you should be sure to get an appraisal.
The value that an appraiser gives might not align with what you had in mind. If their value is far too low, you can always request that a new appraiser comes to have a look. It’s unwise to list your own asking price, though.
If you think your home is worth a huge amount of money and the appraisal says differently, that’s something that you’ll have to stomach. There’s a chance that they’re wrong, but appraisers tend to have a good idea of home value.
Keep in mind, though, that the value of a home is just what someone is willing to pay for it! Appraisers know what people are willing to spend on homes in the modern market. Even though your home might be more valuable to you, you might not be able to fetch the ideal price for it.
Mismanaging Contracting Projects
If you’re planning on doing any renovations, make sure to discuss the process with a professional first. A project manager or a builder can help you make decisions on where to place certain projects.
They can also help you understand fair prices for different projects. Most contracting jobs involve an offer and some negotiation. That process is a lot easier when a professional is managing it for you.
Additionally, you want to be sure that you’re hiring the best people for the job. Finding someone with connections can ensure high-quality projects and fight to get you the best price.
Further, completing renovations in the wrong order can lead to delays, additional costs, and damages.
Interested In Selling Your House?
If you’re selling your house and want to know how to make more money when selling your home, you’re in the right place. There’s a lot to know, but we’re here to help.
Explore our site for more insight into the selling process, renovations to make, and much more.