Wednesday, November 17, 2021 / by Brian Armstrong
Maximizing Your House’s Value When Selling
When it comes time to sell your home, nearly all sellers would say their goal is to sell it for as much money as possible in the shortest amount of time. While this may sound simple, there are many factors at play. From market conditions to your home’s condition, buyers are influenced by a variety of considerations, and understanding how buyers buy will help you market to them. Read on as we unpack the selling process to help you maximize your home’s value.
Hire a Trusted Realtor
Having a support system for your sale can drastically impact your end results. By hiring a trustworthy Realtor, you not only get their expert advice, but you also get someone who knows how to navigate the existing market to lead you toward success. From pricing your house accurately to helping you identify what upgrades could impact the bottom line, their knowledge is invaluable. Additionally, Realtors can amplify the marketing of your property to get it in front of a pool of active buyers. One of the largest mistakes we see with for sale by owner (FSBO) is underestimating the amount of time that is put into the sales cycle to really fetch the best value for the home. You wouldn’t try to do dental work by yourself, would you? Leave it to the pros who know it in and out and save yourself from headaches!
Inspect Your House
Completing an inspection will help you understand the existing challenges in your home including what you may not be able to see. Inspectors will investigate your electrical, plumbing, roof & more areas that don’t always appear to have issues from a surface level glance. Knowing the problems with your home early can help you properly set prices to reflect the challenges or give you the opportunity to repair them prior to going to market. A $10,000 repair may sound daunting, but you may be able to get $20,000 more for your home. Who wouldn’t want to earn that $10,000 extra on their home sale? Your Realtor will help you determine the best strategy to help you net the most money.
Make Some Touchups
After living in a home for a while, you may not even notice the wear and tear that has taken place. Additionally, what may have been trendy at one point may be out of style today. Your Realtor will help you understand what trends are going to help you the most. One example we see often is paint colors. Some homeowners choose bold or uncommon colors to spruce up their homes, however, not all buyers will connect with those color schemes so you may consider applying a fresh coat of white paint to those exotic rooms! Additionally, this is a great time to finish up any small projects you haven’t gotten around to yet, like that front door that is rubbing on the frame. You want to present your home in its best possible light to potential buyers.
Improve your Energy Efficiency
If your home is older, you may consider performing an energy audit. Many service providers offer free energy audits to help you improve the efficiency of your home. This trend has become more popular as consumers increase their need for improving overall home efficiency. From energy-efficient fixtures to well-insulated windows, highlight the features that will help your buyers save on their electricity or heating bills. Having an efficient home will help save you money in the short run and it’s a great selling point for your potential buyers.
Prep for Showings
Getting your home prepped for showings and open houses is an important step to selling your home. In a previous article, we outlined the tips to staging your home for a quick sale, to help you master this step. The most important thing to remember is that you are trying to help your buyers envision themselves living in your house. Focus on cleaning both the interior and the exterior of your property to the best of your ability. Trim the hedges, clean soap scum out of the tub, and declutter your living spaces and closets! These all seem like small things, but they all add up to getting your buyers ready to make a strong offer on your property.