DavidWith home prices holding steady, mortgage rates slowly falling, and a low inventory reported by real estate experts, the market conditions point to an advantage for a seller’s market. As home prices are expected to level off and mortgage rates are predicted to drop further, now may be the best time to sell your home. Use this guide to get the most money from selling your home.
Use a Real Estate Agent
A skilled real estate agent familiar with your local area and the home buying and selling process can help negotiate the best deal for you. Real estate agents have access to the multiple listing service database (MLS) and know how to network with other agents for broader exposure to your home. Further, real estate agents can guide you through complex transactions and paperwork.
Invest in Upgrades and Repairs
Make sure any major issues are taken care of before listing your home. Although it’s not required, a pre-listing inspection is the best way to identify roof leaks, plumbing problems, and other issues that may rear their ugly heads.
As for upgrades, carefully consider the costs and determine which will give you the best return on investment (ROI). A total kitchen remodel can be expensive but smaller upgrades like resurfaced cabinets and new countertops are a smart investment.
Boost Your Curb Appeal
A homebuyer’s first impression of your home is critical and speaks to the condition of your entire home. Ensure your curb appeal is polished by keeping an immaculate lawn and trees and bushes trimmed. Tricks like fresh interior paint, planters by the front door, a new mailbox, and window flower boxes will go a long way in making the front of your home look pristine and well cared for.
Adopt the Home Staging Strategy
Home staging is an excellent strategy to help sell your home quickly and fetch top dollar. Once staged, your home will be ready for professional-looking photographs. Declutter and remove excess furniture that makes a room visually appear smaller. Remove photos and personal objects so the prospective buyers can envision themselves living in your home. If necessary, rent a storage unit for excess belongings. You’ll have a head start in moving into your home and the staging process will be easier.
Choose the Best Time to List
Real estate market activity changes throughout the year. You’ll get a better price and your home will sell faster if you list at the optimal time. While mid-spring is the best time to sell in most locations, it may be different in your local market. A local real estate agent can analyze market trends and help advise you on the right time to sell in your area.
Sell at the Right Price
Setting a price that is too high is one of the worst mistakes a homeowner can make. Even with impressive upgrades, appraisers have comps and other guidelines that determine the value of a home. Pricing a home to sell is another reason to enlist the help of a knowledgeable real estate agent. They can perform a comparative market analysis (CMA) to help you set a realistic price and guide you through the negotiating process.