Thinking of Selling Your Home? Here’s What You Should Know First
Selling a home without careful planning is just not something the average person can do. They can’t afford to get poor value from their home, as most people depend on that sale to purchase their next home. The process can be long and arduous, but it doesn’t have to be.
By preparing as soon as you’re thinking of selling your home, you can reduce the stress and work involved with selling a home. Timing is everything–and knowing things like peak seasons, when to market, and economic trends can improve your value. This is what brings so much value to a realtor partnership.
Either way, these are the things that you need to know before selling your home. Take some notes, here’s what you need to know about selling a home:
Know If You’re Ready
Have a plan in place that accounts for at least five years into the future. Know what selling your house could mean and whether or not it can potentially hurt you financially. Know what your home’s equity is before calling up a real estate agent.
If you are unable to maintain your current home, ask yourself if renting it out is a viable solution. Think about finding a renter who is a great tenant and could improve your lifestyle. Airbnb is not a definite solution, but many homeowners make it work.
Do the Math
Never leave anything up to chance when it comes to what you can afford. Spend time adding up your expenses involved with selling your home. This includes any repairs that need to be done to the home, potential remodeling projects to increase value, the taxes that are levied upon selling, moving expenses, appraisal, inspection, and any professional cleaning.
Always overestimate costs because it’s better to be wrong and end up with more money. The average cost of staging a home can be thousands or hundreds, but it has to be within budget. Don’t sacrifice other areas of home selling if you don’t have to.
Prepare your Home
Staging your home is not only recommended, but it’s also necessary for a competitive housing market. Start off by having a yard sale and listing anything you won’t need to take with you. Next, do a deep cleaning that includes organizing and storing to demonstrate your home’s perks.
Professional staging will require some renovating, so budget for that early on.
With or Without an Agent?
Whether you get an agent or not, start doing your homework on financing options and how buyer’s contracts are drawn up. It’s good to be informed; it makes the realtor’s job much easier. Learn more about how to spot a bad agent, calling the shots, and effective advertising.
Figure out what your marketing plan will look like. How does your local market compare state-wide? Look at recent home purchases and sit down and talk with a realtor to see what they would do to help.
Considering Renovations
Certain renovations are more advantageous than others for increasing home value. Curb appeal is important, modern smart home features can be affordable, and storage is always a plus. You could literally increase the value of your home by tens of thousands if done right. We recommend the following home upgrades:
The Kitchen
Without a doubt, a new, modern home kitchen is one of the biggest sellers for any home on the market. You don’t need to start completely from scratch, in most cases, to see a significant improvement in the value of your home. Just focus on the most impressionable: cabinets, countertops, and appliances.
Unless your stove and fridge are really out of date, try to focus on those three components to see the most significant boost.
The Bathroom
The kitchen and the bathroom are practically interchangeable when it comes to home value. These two rooms can really wow your buyer if you nail the aesthetic. Having a great sink and tub is a must. If your tub is a boring, old white tub, drop a vintage-style or tiled tub in, and you’ve got yourself a deal-maker as long as the surroundings are in good shape.
Don’t forget to upgrade your showerhead; this is important for selling a home with modern comforts. A dual shower head that compliments the color scheme is a nice touch.
Organizing and Storage
A home that has lots of open space is lovely, but a home with lots of places to save space is even better. Put some time into incorporating space-saving features in your home. Shelves, storage containers, fold-away furniture, a streamlined entertainment center–all of this stuff is very appealing to the modern family.
Having a place where everything goes just calms the nerves and feels inviting.
Great Lighting
A home that is well-lit will stand-out, not just in pictures, but in perceived value. Even if your home has the same quantity of features as a competing home next door, if your home has superior lighting, it will sell faster. No amount of photoshop or camera trickery can replicate a living room with amazing ceiling lighting, ambient lighting, or a yard that is illuminated by floodlights, faerie lights, and solar-powered garden lighting.
Lighting a very affordable upgrade and can completely transform a home’s personality.
Outside Curb Appeal
We don’t want to give the impression that landscaping isn’t essential, we just recommend doing the basics first. Buying a brand new roof, deck, or lawn isn’t necessary as long as it’s not visibly dilapidated. Just keep the grass maintained, keep surfaces pressure-washed, and focus on the areas of the house that will boost your home value the most.
There’s only so much you can do under most homeowner’s associations anyways.
Start Thinking of Selling Your Home
We hope this article has gotten some of those creative juices flowing. Just thinking of selling your home is an exciting proposition. A lot of this excitement can turn into nervous energy and feeling overwhelmed.
Don’t try to do everything by yourself, a real estate agent may allow you to do more with fewer resources. You’re not giving up control as long as you have a say in the process. If you want to experience a better way of selling homes, contact Bonnie Roberts Realty.
Bonnie Roberts doesn’t exclude clients from any of the selling processes. Each client is handled on an individual basis, not just thrown onto the market. Get the most out of your old home, so that you can move into your new home with peace of mind.