Top 3 Factors to Consider Before Selling Your Home
Believe it or not, home prices increased by 19% in 2021. If you’ve got a home that’s become more of a burden than a joy, now is a great time to sell your home.
If you haven’t bought or sold real estate in a while, the thought of selling your home can be a bit intimidating. The process comes with a big investment of your time and money. Yet keeping a few important factors in mind can help to streamline the process.
Here are some of our favorite home selling tips.
1. The Market
It’s important to consider the market where you live before selling. In some locations, for example, it may be better to stretch and try to make your mortgage payments while you wait for home prices to improve.
This is not the case in many markets right now, including Atlanta. Homes rose with record appreciation in 2021, and they are expected to continue to rise this year.
Many companies are moving to mid-sized cities such as Atlanta, including Honeywell, GE Digital, and BlackRock. They can take advantage of tax credits and a booming economy.
Many employees are also moving to the area because their jobs are becoming remote and they can live anywhere in the country. Atlanta offers northerners a lower cost of living while still allowing them to enjoy a bustling city life that includes top-notch restaurants and walkable neighborhoods.
Many folks are drawn to the friendliness and warmth that Atlanta offers. There is beautiful weather year-round, as well as plenty of opportunities for weekend getaways and outdoor activities. If you’re looking to sell in a popular Atlanta neighborhood, chances are you’ll find plenty of interested buyers.
2. Hiring A Realtor Or Not
Traditionally, a realtor has been a must-have if you’re selling. They offer you expertise when it comes to marketing, negotiating, and closing on a sale.
Most realtors, however, charge about 6% commission. This means they may get you a great price, but 6% of your earnings will be taken out for their fee.
Some individuals choose to sell their home by owner to keep more of what they earn on their investment. This could be a smart move if you have experience with real estate.
For most people, it involves a good deal of research to sell their own home. They will need to do a market analysis to find a good home price, join some real estate sites to list the home, and make sure they have all of the proper paperwork in place. You will also have to be a good negotiator.
Some individuals are eager to sell their homes right away for a variety of reasons. They may have experienced a recent job change, divorce, or mortgage issue. In these cases, a home buying company such as Resideum can help you get the money you need fast.
3. Your Home’s Condition
It’s important to remember that potential buyers are going to be looking at your home’s condition before they make an offer. There are several repairs you should be sure to attend to before you sell.
For example, a fresh coat of paint is a great way to make your home look fresh and clean before selling. You should also make sure to take care of any leaks, holes in the walls, and even burnt-out lightbulbs. People are going to be making a lot of judgments about the value of your home, whether or not they are true.
You’ll also want to be sure to spiff up the exterior of your home, including your lawns, shrubs, and doorways. This is going to be the first impression people get when they drive past your home or visit, and it could turn visitors off right away.
You may also want to consider staging your home before a sale. This is when you set your home up to appeal to buyers. A staging company may redecorate, arrange furniture, and clean.
Home staging can cost anywhere from $1,500 to $6,000, depending upon the size of your house and whether or not you’re renting furniture. In some cases, for example, your company may suggest renting new furniture for the whole house.
It’s important to weigh the cost of staging against the home price you’re expecting. You want to make sure you won’t be paying so much that you won’t get your value back. Using a home buying company can help you to avoid paying for repairs altogether.
The Right Offer
It can be tempting to jump at the first offer on your home. However, there are a few factors to keep in mind when deciding on a bidder.
For example, most offers will come with at least some contingencies. These could include a home inspection or property appraisal.
Some of these contingencies, however, are a bit riskier. For example, you don’t want a buyer who will drag out the inspection period and keep you from getting out of your home when you need to.
The strongest offers are cash offers because they offer a faster closing period. In addition, if you need a little flexibility when it comes to moving in or out, you’ll want to keep that in mind when you’re fielding offers.
As with any business decision, you’ll want to avoid letting your emotions take center stage. Go with the offer that you know in your head is the strongest and most reliable.
Selling Your Home The Right Way
Selling your home doesn’t have to be an overwhelming process. By sticking with a few basic house selling tips, you could be on your way to a new life in no time.
Don’t stop getting smart about your home and lifestyle now. For more great advice, read our blog today.