Most of the people undergo the process of home selling at least once in a lifetime. There are various reasons to sell homes: some sell their old house so that they can shift to new and bigger homes, some people need a home near to their office or school, and some sell homes to get money.
There have been some indications that the real estate market is entering a new phase as values have improved slightly in some areas such as home prices in Cleveland Ohio are growing at a faster pace. Homebuilders have finally begun to move some of their inventory.
Even so, the picture is not entirely good, which is why sellers need to make use of some critical home selling tips and guidelines to help make the most of the market this year.
In particular, sellers should be aware that foreclosures and short sales will continue to have an impact on prices throughout the year. Maybe one of the biggest effects on the housing market this year will be the job market. Unemployment rates remain high at around 10%, which means that it will continue to affect sales prices.
1. Upgrade or Renovate Your Home
One of the best things that sellers can do to make the most of even a lackluster market is to consider making upgrades and renovations. This can actually make a big difference in making your home stand out from all of the others that buyers have to choose from on the market today.
When it comes to deciding what to spend your home remodeling dollars on, make sure you go with what will have the most impact. Kitchen remodeling does well in terms of being able to recoup your money at the time of sale, as well as the addition of decks. Window replacement is also an excellent home improvement to consider making as well.
2. Spend Money On Landscape
It is imperative to keep in mind that many buyers continue to judge the appearance of a home from the exterior. As a result, you may find that spending some money on your landscaping could pay off in big ways. For instance, if you want to sell homes in Cleveland Ohio, then the appearance of your house plays an important role.
You should also consider making an offer to pay for a portion of the buyer's closing costs. This can be particularly attractive to first time home buyers who may have no problems qualifying for a home mortgage but who may find themselves running short of cash for closing costs.
Ultimately, this could be a good way to attract buyers without the need to drop the price of your home.
3. Leverage Advertisement And Social Media
Ensure that you leverage the ability to advertise and attract buyers via the Internet. Estimates indicate that at least 80% of buyers today begin their search for a home online.
If you are not advertising for buyers on the Internet, you could be missing out on a huge slice of the market. Talk to your agent about making sure that your home is featured on their website.
4. Make Your Home Accessible
It is important to make sure that you are making your home as accessible as possible. In a seller's market, owners can get away more easily by allowing their home to be shown by appointment only, but that is not the case in a buyer's market.
When the buyer has the upper hand, the market is large enough, and the prices low enough that buyers can easily find another home if they are forced to wait on a showing.
Do not make it even harder to sell your home by insisting on an appointment or 24 hours notice. Also, if your agent has not already done so, consider installing a lockbox on your home so that it will be easier for your home to be shown if you are not able to be present.
5. Never Set Very High Prices OF Your House
In the market, it is definitely to your advantage to negotiate. Even if a buyer makes an offer on your home that is lower than the asking price, rather than rejecting it outright, consider negotiating by making a counter-offer.
Also, keep in mind that if you turn down an offer now, you may end up losing more money while selling your home if you wait and try to hold out for a higher price.
Do not let a small difference in price be the cause of your home sitting on the market for months on end, especially if you really need to sell it.
6. Consider Home Staging Services
Finally, consider whether it may be to your advantage to pay for the services of a stager. While this is a service that will require an investment on your part, many owners find that the price of staging can be easily recouped through higher sales prices and shorter listing times.
If you have been trying to sell the home for some time and you have not received the interest you would like, it certainly may be an investment that is worth at least considering.
Brief Summary
Before starting the process of selling a home, it is imperative that you look around for another place to live after selling the house. One should also make sure that one is capable of buying or renting another place, either through the money obtained from the sale of the house or through a loan.
If one intends to use a loan on the next house, one has to make sure that one is qualified for a loan, as the financial circumstances of a person change with time. Then it is necessary to determine the value of the house.
You can also get home selling assistance from realtors who know about the houses in different areas and can help you sell your house fast. Some realtors also purchase your house at good prices and upgrade them to sell at a good price.
Once you know the value of the house, calculate any outstanding payments that you may have, like mortgage payments, taxes, and commissions to be paid, and the amount you will need for the new house. Once all these costs are cleared, then you can determine how much to ask for your house.