For some sellers, getting their home sold as soon as possible in “as-is” condition is their goal – even if it means selling for less money. They don’t want to fix it up or make any repairs. They just want it off their hands. For other sellers, they want their home to sell for the most money possible. They are willing to invest into their home because they know in the end they will net more money.
Keep in mind that price always reflects condition! The more move-in-ready a home, the more appealing cosmetically, and the more hassle-free your home is, the more buyers will be willing to pay for it. Most buyers are using the bulk of their savings in closing costs. If the home is going to need thousands of dollars of work done, they will not be willing to put out all of their saved up cash. However, if the home is in fantastic shape with no repairs or upgrades needed, they can extend their home budget further.
So, if you are one of these sellers who wants to net the most money from their home sale, let’s look at some options that will help get you the best price!
- Do a pre-listing inspection. Yes, most likely you will have to make repairs that are uncovered in the inspection. Now, you don’t have to do everything, but taking care of the major items will give buyers peace of mind. When you get ready to sell, we provide both the inspection report and any invoices of work you’ve had done. When you do this, buyers are more likely to waive inspections and offer a higher price because they know exactly what to expect on repair and maintenance costs.
- Renovate your home’s interior. This can be as simple as putting on a fresh coat of paint and replacing worn flooring. You may want to upgrade the kitchen’s countertops to granite, or swap out bathroom vanities. In making larger renovations, the home’s location and desirability has to warrant the expense. It’s important that we discuss renovations before you begin! I can advise on which renovations will bring the most return. There are also many ways to finance the upfront renovation costs that you will recoup when you sell.
- Add some curb appeal. So many times a buyer will say, “Oh, that house is so cute!” You can give your home a facelift with a few touches that will appeal to buyers. Paint the shutters and wood trim around porches and doors. Cut down ugly bushes and add some nice plantings. Spread dark mulch over your beds and around trees. Put several pots of colorful flowers on your porches and decks. You can even add a few lanterns on the porch and candles in the windows. When buyers look at your home, they should be drawn to come inside!
- List at market value (or slightly below). Sellers want to get as much money as they can for their home, and rightly so. Many mistakenly think that they should price high and then, if it doesn’t sell, drop the price. This usually ends up backfiring in a big way. A home that is overpriced will sit on the market until the price drops and then buyers will think they can get a bargain because the seller is now desperate. It is better to price at market value or slightly lower to create buyer competition. You want as many buyers bidding on your property as possible! As soon as buyers are competing, they offer their highest and best offer.
- Provide a home warranty. Buyers are concerned about how long the air conditioner will last or if the dishwasher will break down. They often don’t have a lot leftover for repairs after paying closing costs, especially in that first year of homeownership. You can offer extra peace of mind for the buyer by providing a home warranty. There are different types of home warranties, but they cover anything from appliances to roof leaks to sewer lines to water heaters. A home warranty can help the buyer put forth their best offer knowing they have repair coverage on major expenses.
Would you like a free seller consultation? Just drop me an email.
BY SPARROW WEBSITES