Looking into selling your home? Market research has recently shown, now is a prime time for home sellers. The market is ripe and at an all time low for inventory in some areas. If you’re considering testing the waters, check out these tips to help you prepare and sell your home.
The first step any seller needs to consider is the process of showcasing their home. After all, putting your best foot, or curb, forward can make all the difference in getting your asking price.
Renovate or Forget It?
Prepping a home to sell does not mean that renovating is necessary. A common misconception is that in order to get a higher asking price, areas like new appliances, new construction or remodeling are necessary but in fact can often cost more than the return.
According to Realtor Magazine, some renovations, such as adding a bathroom or putting new shingles on a roof, might not always pay. The data suggests that the nationwide average amount recouped for a bathroom remodel is about 58%.
First impressions are everything. Consider your home’s curb appeal as its first handshake to potential buyers. Presenting your landscaping well gives buyers the impression you’ve taken pride in both the exterior and interior of your home. Since landscaping is one of the first things noticed, make it as clean and curated as possible. Extra eye appeal can be added using potted plants for pops of seasonal color.
Kim and Helen Iocovozzi, Judge Realty 2014 Top Producers, maintain that curb appeal, cleanliness and a fresh appearance outside are your best first impressions. Helen believes, “When people see that the house has been well maintained and cleanliness is obvious, potential buyers are more trusting and more confident about the value of the property.”
“Move in Ready”
Often referred to as “Turn Key”, this notion refers to showcasing your home as ready to move in. When potential buyers see that there is little or no work needed to be done, they are more likely to see the value in the asking price.
On the same level of making it look ready to move in, buyers are inspired when they see the potential of what living in the space would be like. Often times a seller and the agent can hire someone to professionally stage the property for sale. Staging costs can vary but should be considered when looking at your budget. This is especially true if you’ve already moved out and removed your furniture. Staging pros and cons should be discussed with your agent before committing to it.
It’s also incredibly important to take professional photos of your home. Work with your agent to see what angles are best to photograph the home and use proper lighting. The more you can create a “perfect space” through a photograph, the more potential buyers will be already sold by the time they even get there. Homes with professional images gain an immediate advantage.
The Price is Right
Consult with your real estate agent about the trends in your neighborhood. Take all “comps”, or comparables, into consideration when deciding on your listing price.
Kim advises sellers, “Be willing to make a deal. Often times people lose a sale because they are not willing to negotiate on certain aspects of the sale. The terms have to be worth it for both parties and most times that means negotiating. Be open-minded and willing to hear options.”
Not only will following these tips help you sell your property quickly, it will also help ensure your asking price. Consult with your agent to see if your house is ready and prepped for a faster sale.