Selling your home is a big financial and emotional task, which requires lots of planning. So before you decide to put your home on the market, here are a few things to consider.
How can you sell at the highest price possible?
There are several simple, low-cost things you can do to boost the value of your home. These include eliminating clutter, washing windows and walls, and installing higher wattage bulbs to create a brighter environment. Larger projects, like replacing flooring or renovating kitchens and bathrooms, typically yield more substantial increases in sales price. Staging your home, which helps paint a picture for how buyers will use their new space, can also add value.
However, don’t over price your home. Research shows that if you over price your property and have to make several price reductions in order to get showings, buyers will tend to think there is something wrong with the house or the seller is being unrealistic. This is something no buyer wants to deal with. In addition, the longer the property sits on the market and more price reductions you have, a buyer could think the seller is desperate and possibly come in with a low ball offer.
How long will your home be on the market?
In addition to being competitively priced, the time your home spends on the market depends on several factors. These include location, how aggressively your home is marketed, how cooperative a seller is with accommodating showings, and other factors that you might not even think about, such as weather or a holiday season. Statistics show that if a home is properly priced, an offer should come in within the first 12 showings. If you want to speed up the sales process, don’t underestimate the value of staging. Research shows that well-staged homes can sell up to 32 percent faster than homes that aren’t staged.
Make repairs now. If you know something is in need of repair and will show up on a home inspection you should take the time to make that repair prior to putting you home on the market. A well maintained home always brings in a higher profit when you go to sell.
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