When the time comes to put that sign in the yard, there are hundreds of good house selling tips that can help you. Some are more important than others though. Here are three of the most important points.
Understanding the Value. Just because you like your home doesn't mean that it is worth more and it may not even be worth more after you spend $10,000 making it the way you like it. It's worth will be based on what others will pay. One of the worst parts of a real estate agent's job is trying to explain to a nice couple that their $45,000 in kitchen improvements only added $10,000 to the value of the house.
It is easy to see the problem with pricing too low, but making less money is a problem of pricing too high as well. It's true that you have costs to pay while waiting to sell. Not to mention that people are also suspicious of homes that have sat unsold for a year, and less likely to make an offer even if you have finally lowered the price. As for the perfect buyer who would have paid the most, he or she may have looked at the home when it was over-priced and walked away. If you want to get the most money, then you need to price it right to begin with.
Understand The Market. Be sure that you know who your potential buyers are. Having a sign in the yard won't be much help if you are selling a summer home in the woods and all the buyers are in the city. You or your agent can decide which ways to market the property once you identify who the likely buyers are.
Perhaps you are in a quiet neighborhood that is attracting retirees? If that's the case, then you would want to advertise the fact that your house has one level. "No stairs!" can be an important selling point to older buyers. At the same time, it would be a waste of words if the neighborhood is one that is likely to attract young couples. Consider your market before you try to sell.
Cost-Effective Preparations. Of course you should clean the house and mow the lawn. But for the other things you do to get ready for the sale, they should be cost effective. As a rule, you should first do those things that will give you a three-to-one return on your money.
Being precise is not really important or possible. The point here is to be able to do things that raise the value more than they cost. While a $50,000 pool might add only $25,000 in value, a $1,000 to repave the driveway may increase the value of the house by $3,000. Replacing that dented mailbox, and work on those things that get "the most bang for the buck" would be a good place to start.
You can also find endless little house selling tips if you have the time and motivation. That may not be a bad idea, but why not start with the important things first?
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