In the housing market, supply often exceeds demand and most people can generally sell a house faster by lowering the price. But there are other ways to improve your home’s attractiveness without lowering the asking price. If you’re looking to sell your home in today’s competitive real estate market, the following are some tips on how to generate interest and get the best price possible.
Stand Out from the Neighbors
To attract attention and make your home more memorable, consider custom designs or additions, such as landscaping, high-grade windows, or a new roof. These can help improve the home’s aesthetics, while potentially adding value. Any improvements should be practical and use colors and designs that will appeal to the widest audience. In addition, they should complement the home and its other amenities. This can include additions such as building a deck or patio adjacent to an outdoor swimming pool.
If you’re going to invest in home improvements, do your research and be sure to put your money into the things that are likely to get you the best return. If you have added any custom features that you think buyers will be interested in, make sure they are included in the home’s listing information. Show off every asset you can.
Clear the Clutter
It is always important to remove all clutter from the home before showing it to potential buyers because buyers need to be able to picture themselves in the space. This might include removing some furniture to make rooms look bigger, and putting away family photographs and personal items. You may even want to hire a stager to help you make better use of the space.
Sweeten the Deal
Another way to make the home and deal more attractive to buyers is to offer things or terms that others may not think to put on the table. For example, sellers who offer the buyer a couple thousand dollars in credit toward closing costs, or offer to pay closing costs entirely, will in some cases receive more attention from house hunters looking at similar homes. In a down market, buyers are looking for a deal, so do your best to make them feel they’re getting one. Also, remember that some buyers are motivated by the option to close soon. If possible, aim to close on the home within 30 to 60 days. This can make your deal stand out and get you a contract.
Improve Curb Appeal
Sellers often overlook the importance of their home’s curb appeal. The first thing a buyer sees is a home’s external appearance and the way it fits into the surrounding neighborhood. Make the exterior as beautiful as possible by doing things like repainting your house, trimming the bushes, and mowing the lawn. In real estate, first impressions mean a lot.
Get Your Home in Ready-to-Move-In Condition
Looks are important, but it’s also important that your house is functional. Things like doors, appliances and electrical and plumbing fixtures should be in working order and in compliance with current building codes. Again, the idea is to have the home in move-in condition and to give potential buyers the impression that they will be able to move right in and start enjoying their new home right away, rather than spending time and money fixing it up.
Price It Right
No matter how well you renovate and stage your home, it is still important to price the home appropriately. Consult a local real estate agent, read the newspapers, and go to online real estate sites to see what comparable homes are going for in your area.
Selling a home in a down market requires a little extra work. Do everything you can to get the home in excellent shape and be prepared to make some small compromises at closing. These tips, coupled with an attractive price, will improve the chances of getting your home sold.
Are you now ready to begin the homebuying process?