Your home is probably the most significant financial asset you own. Therefore, whenever you sell if, you will want to make as much profit off of it as possible. Many factors that decide the value of a property are out of your hands, like market value appreciation, local property value, your neighborhood's appeal, etc. But there are things you can do to ensure that you get the best price, and one of them is adequately preparing your home for sale that your real estate agent can advise you on.
1. Read the market.
If you don't have to sell your home urgently, put it out there in a seller's market, not buyers. Some costs to think about when closing your home, are closing costs, Home Warranty, and Property Insurance, and Property Tax. You will be able to sell it very near your home's fair value and on your own terms. Make sure you ask your real estate agent if it is a seller or buyer market.
2. Decide whether you want to sell with a realtor, or put it on the market FSBO (For Sale By Owner).
If you aren’t real estate savvy, it’s highly recommended that you go with a good real estate agent. There are a lot of intricacies involved in selling a house, and a good realtor can help you through them with minimal fuss and maximum returns. They will also help you set the right asking price, and guide you on how to pass the home inspection.
3. If you are selling your home while it’s still under mortgage, run the numbers.
Only sell your Real Estate if you are making enough money on the house that after paying off your mortgage early (and accompanying penalty) and closing cost, you will have enough left to buy a new property (or whatever your financial goal was for selling the house). A good Real Estate agent can help you determine your net proceeds and help you determine net proceeds.
4. Fix your property.
If there is a major repair or structural issue with your home, it would be worth investing in fixing it by the time there is a home inspection. It will come out in the inspection anyway, and at that stage, it will either harm the deal or force you to cut down the asking price. Make sure you talk to your expert real estate agent to get referrals and quotes for structural issues. Getting quotes prior will make the buyers real estate agent at ease.
5. Improve your property.
You will be surprised to see how much change power washing, a fresh coat of paint, and preparing the yard can do for the appeal of your house and make it look desirable on the Multiple Listing. First impressions matter in Real Estate and the appearance of your house is responsible for making the first impression on the buyer and looking at the Multiple Listing Services. These small home improvements like changing out light bulbs will make a big impression.
6. De-clutter and depersonalize your home.
It’s an important part of preparing your home for prospective buyers. A good marketing plan and use of social media will enhance the property, and the decluttering will help the photoshoot. This lets them visualize the available space, and imagine themselves and their families living in the home. A good Real Estate Agent will advise you to remove any unnecessary stuff, furniture, and personal items (family photos and heirlooms), to the new property or a storage unit. You can always talk to a home stager to get advice on the organization. Home Stagers are a valuable resource for Real Estate.
Selling your home is as much an emotional task as it is financial. An excellent real estate agent can objectively analyze your property and help you get to a good price point accurately to make smart decisions in preparing your home in the best possible way.