A Complete Guide for Home Sellers
After careful consideration, you have finally decided to sell your home. Whether you need more space, you are ready to downsize, or you are relocating for school or employment reasons, you are ready to embark on a new and exciting chapter of life.
However, selling your home of ten years or more can be both emotional and stressful, especially if you are a first-time seller. This is probably the biggest financial investment you have made in your life, so you want to make sure the sale process goes smoothly and you end up with a handful of cash in your pocket.
So, it is important that you are well prepared in advance so you can reduce the overwhelm that comes along. To get you started, we have created the ultimate guide to help you navigate through the selling process easier.
Hire a real estate agent
Given the unprecedented growth in the housing market in the last couple of years, there has been an increase in pricing and bidding wars as well as low levels of inventory. This can make selling a house of any kind a bit of a complicated process. So, if you’re not confident that you can do it yourself, consider the expertise of a real estate agent to help you along.
These agents are experts in the field and know how the market goes, and will help you get the best deal possible for your property. They will complete all the paperwork, find potential buyers, market your home and handle all negotiations and closing details.
Set a realistic price
Setting a realistic price is also very important because higher prices may throw off potential buyers while underestimating the value of your home could lead to financial loss.
One of the best ways to determine the right price for your property is to consult your neighborhood’s comps. This refers to the data sheets that include recently sold properties in your area. Looking at them can give you an idea of how much are other properties selling for, so you can decide on a price for your property.
Also, remember to avoid reducing the prices for your property too many times because it gives buyers the impression there is something wrong with your home’s condition.
Be smart about your home’s upgrades
Many homeowners often decide to engage in a few home improvements to help increase the value of their homes. However, they often make the mistake of wasting their money and time on needless upgrades which won’t really pay off in the end.
Therefore, it is important that you are smart about your home’s upgrades and only do those that will help increase your property’s market value. For example, updates to the kitchen and bathroom are often the best ways to provide the highest return on investment.
If you are looking for something that is low-cost but will make a great first impression, then adding a fresh coat of neutral paint and sprucing up your landscape are great options.
Get a pre-sale home inspection
Although a pre-sale home inspection is optional, it can actually be a wise upfront expense. A detailed inspection performed by a professional home inspector will help you identify any structural or mechanical problems your property may have that need to be repaired. It may cost you a few hundred dollars, but it will pinpoint any red flags potential buyers will notice if they do their own inspection later in the process.
Ordering a home inspection is basically being a few steps ahead of the buyer. If everything is fine with the property, you can put it up for sale and sell it quickly, without any hassle.
Stage your home to sell
Staging your home for house showings is also very important. This simply means removing any excess furniture, personal belongings, and unsightly items from the home while it is on the market, as well as arranging the rooms for optimal flow and purpose.
The main reason for doing this is to make the home more appealing to your buyers and give them a chance to picture themselves living there. Depending on your budget, you can do the staging on your own or hire professionals to do it for you so you can successfully prepare your home for sale.
There is no doubt that selling a home is a long, emotional, and overwhelming process. There are many things to consider and numerous tasks to complete so sellers can get the best deal possible. From hiring a real estate agent to preparing your home for sale, be sure to follow our guide to sell your property fast and get a great return on investment.