5 Ways to Help Your Home Sell for More
Selling your home can be an extremely stressful process, especially if you don’t exactly know what you’re doing. Not only are you letting go of a house that you’ve likely lived in for a considerable amount of time, but you also have to navigate through many pitfalls to ensure that you are adequately compensated. It’s very easy to be taken advantage of in the real estate industry if you don’t know what you’re doing, so it’s important to have some knowledge as a seller. So if you plan on selling your home, how can you ensure that you get the maximum value out of it? Here are five ways to help your home sell for more.
Sell at the Right Time
What many people don’t know about selling a home is that there are actually certain seasons where homes sell for more. During certain times of the year, not only are you likely to sell your home for more, but you’re also more likely to get higher bids as well. Typically the home-selling season is around late spring and early summer, as people want to move while their children are on summer vacation. In addition, this time period is the easiest time to move as you won’t have to worry about snow and ice storms. If you sell in the late fall or early winter, you might have trouble finding a buyer or may even have to lower your price just to entice some buyers. As a result, the timing of which you sell your home is extremely important.
One of the best ways to get your home to sell for more money on the open market is by completing some renovations to improve your home. At first, you may be hesitant, as renovations can cost thousands of dollars. However, renovations can also improve the value of your home by several thousands of dollars, oftentimes paying for themselves or even turning a profit. If you have major problem areas in your home, your home’s value will tank and force you to take a less than desirable deal. While fixing these problem areas up may cost some cash, it’ll get rid of some major negatives to your home, making buyers much more likely to splurge and buy it.
When selling their home, many people make the mistake of listing their home at the same price that it was appraised at. While at first this may seem like a logical decision to make, it actually can end up hurting your chances of getting more money out of your sale. If you list your price slightly cheaper than its appraisal value, then many buyers will be attracted to it and want to buy it. These buyers will then bid against each other, driving the price of the home up. In the end, the money you get from the home will likely be higher than the initial appraisal value, all thanks to the bidding war. As a result, you should first think, “What is my home worth?” then make its list price slightly lower than the answer. Who knew that pricing your home lower would actually net you more money?
A major mistake that people make when selling their home is they fail to de-personalize it. When you’re selling a home, you want it to be completely free of all personal belongings. Buyers want a home that is a completely blank slate, as it is much easier to envision themselves living in it that way. When a home has little personalization to it, it’s so much easier for buyers to think of ways they want to decorate it or ways that they can personalize it themselves. When your own personalization is in the way, it clouds the buyer’s judgment and makes them unable to envision what they want to do with the home. As a result, they’ll be much less likely to be interested in the home and won’t try to bid up the price.
Have a Good First Impression
Like in most areas of life, first impressions are extremely important when it comes to selling a home. When a buyer has a strong first impression of your home, they’ll be much more likely to view the rest of the home in a positive light. However, if they have a negative initial impression, then they may be overly negative on other aspects of your home. The best way to ensure that your home gives buyers a positive first impression is by improving your home’s curb appeal. This can be done by doing things such as planting greenery and repainting your home’s exterior. If you want more buyers to be interested in your home and to bid the price up, then you definitely should consider improving your home’s curb appeal.