Tweet
Source: http://www.investopedia.com/articles...own-market.asp
In a declining real estate market where supply outstrips demand, a person can generally sell a house faster by lowering the price. But there are other ways to enhance a home's attractiveness besides lowering the asking price. If you're looking to sell your home in a cooling real estate market, read on for some tips on how to generate interest and get the best price possible.
Differentiate From the Neighbors
In order to attract attention and to make your home more memorable, consider custom designs or additions, such as landscaping, high grade windows or an updated Timberline roof. This can help improve the home's aesthetics, while potentially adding value to the home. Any improvements should be practical and use colors and designs that would appeal to the widest audience. In addition, they should compliment the home and its other amenities, such as building a deck or patio adjacent to an outdoor swimming pool.
However, while it can pay to spice up your home, don't over improve it. According to a 2006 article in Realtor Magazine, some renovations, such as adding a bathroom or a sun room, might not always pay. The data suggests that the nationwide average amount recouped for a bathroom addition is about 75%. For a sun room it's even less. If you're going to invest in renovations, do your research and be sure to put your money into the things that are likely to get you the best return. In addition, if you have added any custom features that you think buyers will be interested in, make sure they are included in the home's listing information. More than ever, in a down market you should take every small edge you can get.
Clean the Clutter
It is imperative to remove all clutter from the home before showing it to potential buyers because buyers need to be able to picture themselves in the space. This might include removing some furniture to make rooms look bigger, and putting away family photographs and personal items. You may even want to hire a stager to help you make better use of the space. Staging costs can range from a couple of hundred dollars for a basic consultation to several thousand dollars, particularly if you rent modern, neutral furniture for showing your home. Many people feel that stagers can make a home more salable, so hiring one deserves some consideration.
Read more....
Cheers
Marc
In a declining real estate market where supply outstrips demand, a person can generally sell a house faster by lowering the price. But there are other ways to enhance a home's attractiveness besides lowering the asking price. If you're looking to sell your home in a cooling real estate market, read on for some tips on how to generate interest and get the best price possible.
Differentiate From the Neighbors
In order to attract attention and to make your home more memorable, consider custom designs or additions, such as landscaping, high grade windows or an updated Timberline roof. This can help improve the home's aesthetics, while potentially adding value to the home. Any improvements should be practical and use colors and designs that would appeal to the widest audience. In addition, they should compliment the home and its other amenities, such as building a deck or patio adjacent to an outdoor swimming pool.
However, while it can pay to spice up your home, don't over improve it. According to a 2006 article in Realtor Magazine, some renovations, such as adding a bathroom or a sun room, might not always pay. The data suggests that the nationwide average amount recouped for a bathroom addition is about 75%. For a sun room it's even less. If you're going to invest in renovations, do your research and be sure to put your money into the things that are likely to get you the best return. In addition, if you have added any custom features that you think buyers will be interested in, make sure they are included in the home's listing information. More than ever, in a down market you should take every small edge you can get.
Clean the Clutter
It is imperative to remove all clutter from the home before showing it to potential buyers because buyers need to be able to picture themselves in the space. This might include removing some furniture to make rooms look bigger, and putting away family photographs and personal items. You may even want to hire a stager to help you make better use of the space. Staging costs can range from a couple of hundred dollars for a basic consultation to several thousand dollars, particularly if you rent modern, neutral furniture for showing your home. Many people feel that stagers can make a home more salable, so hiring one deserves some consideration.
Read more....
Cheers
Marc