Guidelines and Suggestions for Selling Your Home
In a real estate market where supply outpaces demand (a buyer’s market), a homeowner may be able to sell his property a bit faster by simply reducing the asking price. However, there are other options available to Sellers to enhance the desirability and facilitate a quicker sell without having to lower the asking price. If you are a Seller considering the sale of your home in a competitive real estate market, please continue reading for some helpful tips and suggestions on how to generate more interest and entice an offer at the best possible price.
Set Yourself Apart from your Neighbors and Know your Competition!
In order to draw attention and make your home unforgettable to most, think about custom designs or upgrades, such as new flooring, new landscaping, high-grade windows, even a new front door. Small and not too expensive design changes can significantly improve your home’s aesthetics and help marketability.
Think About Your Up-Grades Carefully!
While not all home improvements pay for themselves by luring a higher price, if carefully considered most small improvements will potentially add value to the home over and above their initial costs. Improvements made should always be practical and use colors and design concepts that appeal to the widest audience. Any changes made should complement the existing home design blending in with the other amenities. For example; building a deck, or patio with walkways adjacent to an outdoor spa or swimming pool.
DO NOT Over Improve!
Although it can pay to brighten-up your home, please do not over-improve. You can easily get carried away. Remember, you’re trying to sell the home and make a profit, not make changes to please you. According to most studies on home improvements, some renovations such as adding an extra bathroom or even a new roof, may not always give the homeowner a return on dollars spent. Some national data even suggest the average dollar amount recovered for a bathroom remodel is just about 58% per cent, while a brand new roof returns even less.
If all indicators and research point to a home improvement, then be sure and spend your money on the things you’re most likely to get the best return for your money. Consider a new paint job, plant flowers, best money spent! One last comment, if you have added any recent custom features to the property, you need to make sure your listing agent includes them in your MLS home listing description. More so today than ever before, with the current crop of improved “investor property-flips”, you need to take advantage of every small edge you can get in order to quickly market your property against the competition.
Clean Up the Clutter!
It is essential to eliminate all clutter from the home ahead of presenting it to potential Buyers. To make the rooms appear more spacious, consider removing some of the furniture, make the walls look clean, remove extra wall frames and old family photos, and stow away personal items you rarely use. Incidentally.
If you don’t have the space to temporarily store some of your belongings then consider renting an off-site storage space. The few dollars you will spend in temporary storage fees will be well worth it. The more appealing the space, the more memorable your home will be to potential Buyers. These seemingly insignificant details can add many thousands of dollars to your eventual sales price.
Remember, Buyers need to be able to visualize themselves in your space and this does not only mean inside of the home, but also in the front and side yards and backyard and patio areas. Plan a garage sale and sort through those items you no longer need. What fails to sell, think of donating it to a local organization or charity. Some items may be a tax-deductible item, so check with your income tax professional.
Staging Your Home
The last thing I would like to suggest is staging your home. When a Realtor talks about ‘staging’, they’re talking about a design approach to decorating your space and highlighting the home’s best assets. The goal is to impress the Buyers.
Think of how you felt when you saw your ‘dream home. What was it about that home that made you feel that way? This is how you want your potential buyers to feel after previewing your property. You may think that not all homes would benefit from this service, but you would be surprised. You could hire a stager to help you make better use of your space.
Staging fees can range from as low as one hundred dollars for a basic consultation to several thousand, it all depends on the potential benefit you stand to make by seeking professional help in this area. Their fees can be more than offset by quicker sales and higher selling prices. Many feel stagers make a home more marketable so hiring a local expert certainly deserves your consideration. If you cannot afford a staging service, then find an open house and pay close attention to some of those homes that take your breath away.
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