Sure, it’s a sellers’ market, and homes in good condition and in popular areas are selling shortly after being listed. How quickly? Nearly 60% of home sellers accepted an offer on their home within two weeks of listing.
Homes are selling for more than the sellers listed them for, as well, at a nationwide average of 100.8% of the list price in February.
This is definitely the best time to sell your home. For you to wring every last penny of its value out of it, though, requires preparing the home for the market. Check out our few tips on how to make a profit when selling your home!
Sell your house at the perfect time of the year.
The season you market your property might determine how much it sells for — or how long you have to wait to sell at the price you want. According to research, the optimum time to list a house is in the early spring. Properties advertised during most of that time in most major cities in the United States have typically sold quickly and for greater prices.
Hire the best real estate agent.
Consulting with a local real estate agent will assist you in navigating your community’s complex and ever-changing property market. In addition, finding the correct agent enables you to better understand the local market, including legislation, traditions, and current market trends.
Thus, if you’re a real estate expert or investor, you’ll probably rely on professional assistance and coaching to get the most out of the sale of your house. And, with changes occurring at a far faster rate than usual, it’s even more critical to deal with somebody who has their fingertips on the pulse of a specific community’s real estate sector.
Check out our home selling guide here.
Make necessary repairs.
Making any necessary minor repairs throughout the house will result in more sales to potential purchasers. You can get them to focus on appreciating their new environment rather than what they will have to maintain and repair. In addition, if potential buyers discover tiny, evident problems that need repair, they will speculate about larger ones they cannot see.
Buyers do notice the small stuff so take a tour of the home, paying close attention to the following:
- Cracks and holes in the walls
- Peeling or otherwise damaged paint or wallpaper
- Torn or bent window screens
- Broken or cracked window glass
- Leaky faucets
- Running toilet
- Damaged flooring
- Dirty or damaged baseboards
- Broken floor or counter tiles
- Inoperable lamps and other light fixtures
- Broken electrical outlet and switch plates
Should you decide to make large repairs, the following will net you the most money at the close of escrow:
- Garage door replacement. If it’s old and ratting it will ruin your home’s first impression, thereby lowering its perceived value.
- Front door replacement (make it a steel door to add maximum value).
- Floor repairs or flooring replacement
- Updated electrical.
- Updated plumbing.
Now, the fun part
Once the necessary repairs are out of the way, decide if you want to take some extra steps to make your home irresistible. Consider staging it to increase its perceived value.
Staging a home gives the impression that it’s move-in ready. Why is this important?
Slightly more than 63% of homebuyers want and will pay more for a home that is in turnkey condition, according to a study performed by marketing research firm Maritz.
A move-in ready home is, first of all, an impeccably clean home. Dirty homes turn buyers off and give the impression that the home isn’t worth much.
Aside from the aforementioned repairs, listing your home at the right time is critical if you want to make the most amount of money possible. List soon to take advantage of the current market before you miss out on it.
Making the home attractive to buyers presents the best opportunity, though, to reap even bigger rewards at the close of escrow.