Selling a home one of the most stressful experiences, yet it can also be gratifying, especially when you get a high price.
However, achieving the best deal can depend on the condition of your home and the state of the housing market and broader issues like what’s happening with local and global economies. For example, the ideal circumstance is you’ve got time on your side to renovate your home and stage it for sale in a buoyant housing market to achieve maximum sales price.
If however, you find yourself needing to sell your home while your country is in a recession, or if you’re in a tight situation financially, you probably want a quick sale and will choose to sell your house for cash. While this option is not likely to get the best price for your home but it will get you out of a sticky financial situation if when you can sell your home, you can pay off your mortgage.
Most vendors, i.e. homeowners selling their property are doing so in their terms and if you’re not in a rush then focus on what you can do to your property before listing it for sale.
How do you get the most money for your home? If you ask for a price that is far too high, your house could sit on the market for far longer than the average time, so the starting point is to make sure you know what your home is worth and then what you can do to it with cosmetic changes to improve its value.
Not all renovations improve return on investment. Some end up costing more than the value they produce, and this is known as overcapitalizing your property. In general, the best rooms to renovate are the bathrooms, and kitchen, as they are the most frequented and with high use wear down quickly. Then if you’ve got some budget left over refresh the bedrooms, whatever you choose to do these renovations can be an entire remodel of the room, or a simple change or addition. It all depends on how much you want to spend.
Also, it is a good idea to know your market and the city where the home is located. For example, extensive yard renovations might not be the best idea in an area where there are winter eight months out of the year, but if it is warm all year, renovating the outdoor space can add significant value to a home.
Creating a great first impression for home buyers is essential, and that starts with curb appeal. From the front gate to the back yard fence all outdoor areas including pathways, landscaping, lawns need to be in good condition, attractive and welcoming.
If the outside of your home is drab or dull, you’ve created an uphill battle to overturn homebuyers first impressions of your property and what it’s worth. You’ll have a hard time finding a buyer willing to pay top dollar, even if the interior is impressive.
Buyers often want to meet and do viewings on their terms, and you need to be willing to accommodate their requirements. A big part of being flexible is always prepared to show your home at a moment’s notice.
Therefore keep the home clean and looking great, so you don’t need a lot of time to prepare it before a showing. Often properties are bought and sold at short notice; therefore, you’ll want to be receptive to the chance buyer who happens to see your home and wants an immediate viewing.
Selling your home is a memorable event in your life, and ideally, you’ll do it on your terms and when market conditions are favourable. However, there are always buyers for homes during downturns in the market – for the right price, of course.