So you’ve decided to take the plunge. You are going to sell your house. This is a big decision. First of all, this is your home. You are going to have to have strangers come through it and pick it apart. Second of all, it is likely your largest asset. You want to make the most of it.
Like most sellers, you want to get the best possible price for your house. Of course, most buyers these days are trying to find a steal. There are many different variables that will factor into your sale, like market conditions, your home’s location, and your motivation. Truth is, most successful transactions meet somewhere in the middle, where both buyer and seller feel that they have gotten a fair shake. So, in order to have the best transaction possible, you’ll want to make the most of your home’s assets.
First, Gather Information
You’ll want to know the fair market value of your home. You don’t need to spend a lot of money by getting a formal appraisal. A great way to determine your home’s market value is by getting a Comparative Market Analysis from local Realtors. You can contact a few local real estate offices and let them know you are thinking of selling. Each office will make an appointment to have an experienced Realtor come over and evaluate your house. He or she will tell you what fair market value is for your house and how long he or she thinks it will take to sell.
Pricing Your House
Every seller wants to get the most money possible for their house. However, the way to do that is not to set the asking price higher than market value. The way to get the most money for your house is by pricing it at or under market value to get the most possible traffic through the door. The more people who see your house, the more potential offers you will get. The more offers you get, the higher they can go.
Resist the urge to over price your house. It will likely sit there with very few showings. Most houses which are greatly overpriced get offers which are ridiculously low, if they get any offers at all.
You will be paying the mortgage, taxes, insurance, utility and maintenance bills while your house is for sale, so price your house to sell.
Try to See Your House Through a Buyer’s Eyes
You may have a list of repairs that you have been putting off. Now is a great time to tackle them. It can be difficult to make repairs knowing that someone else will reap their benefits, but that is something you will need to put behind you.
If a buyer sees leaky faucets, sloppy paint jobs and other little things that need attention, the first thing they are going to think is that the big things need fixing too. If your house is in pristine condition, buyers will feel much more assured that the big things are in proper working order.
Take a minute and look at your house from the curb. Does it have ‘curb appeal’? To maximize the value of your house, wipe all the spider webs from the from door area. Put a fresh coat of paint on the porch and front door. Add a few decorations. If the season is right, invest a few dollars in some flowers to put around the walk or entryway.
Then, take some time to really spruce up the inside. You really want to dazzle the buyers. Wash the windows and floors. Paint any rooms that look dingy, add new light fixtures and bright bulbs. These simple fixes will go very far to maximize the value of your house.
Ask you realtor what you can do to maximize your home’s value. He or she has just seen it for the first time and will be able to tell you if anything stood out in their mind.
How about a little hocus pocus to add value to your house? Again, consult your realtor for some tips on staging. The way furniture is arranged in a house can significantly impact its value. Adding or removing furniture can make rooms look bigger or cozier.
The same can go for your backyard. If you have out door furniture, keep it clean and inviting looking. Set a picnic table and open the umbrella if it is the appropriate time of year. You’ll be surprised at what a difference it can make.
In order to maximize your home’s value, you’ll want it to look spacious and uncluttered. You may have valuable and beautiful collectables. However, this is not the time to display them. You want buyers to spend time noticing your house, not your Hummels. You are going to have to pack anyway, so take the time and pack away some of those collectables. If you have an abundance of family photos, take some time and pack some of them away too.
Finally, take a look at your closets. One of the things buyers love is closet space. And who can blame them? If your closets are bursting at the seams, buyers will think that there is not enough storage space. Cleaning out your closets can add to the value of your house.
I hope that these tips will help you get the most possible money for your house. Remember that small changes can have big impact. You are looking for a buyer to pay you a very large sum of money. It will be worth your while to spend a little time and money to spruce up your house. You’ll find that you can maximize your home’s value pretty inexpensively and that it may pay you back handsomely. Good luck.