First time home sellers often wonder how they can effectively maximize their profits. Here are some helpful tips to ensure you get the most out of your first home’s sale.
Crunching the numbers is a great place to begin. You can start this process by doing a bit of research. Firstly, map out your monetary goals to get a better idea of how to best to move forward. Where do you plan on moving to next? What are prices like in neighborhoods that appeal to you? What can you anticipate to make off of the home you’re selling? Once you’ve collected some of these ballpark figures, you can solidify more concrete plans.
Eliciting the help of a professional is always a smart move. Real estate agents can help you with your monetary goals. They usually have extensive knowledge on the current market in your city, can answer your questions regarding housing trends, and help boost the visibility of your home. Finding a reputable agent is the first step. There are a few ways you can do this, such as researching agents online in your area. You can also ask friends and family members who have recently moved about what agency they used and who they worked with.
Ensure you are in a good position to sell. Firstly, double checking your finances is imperative to the selling process. If there are loose ends that need to be tied up, address those before anything else. Secondly, the time of year can have a huge bearing on when a home will sell. Typically, agents advise against selling homes in the winter months. It may be in your best interest to wait until you have better weather. This will prevent your home from being on the market for months at a time.
If you’d like to do some renovating to your home before selling, keep the following in mind:
- Try to keep your projects small and cost efficient. Large overhauls of spaces will not only be costly, but time restrictive.
- Small vanity fixes can help boost the appeal of your home without having to break the bank. The addition of a new front or garage door can make a world of difference.
- Get a second opinion about remodeling spaces. A seasoned real estate agent will have a better idea about what fixes could be the most beneficial.
When and if you list your home online, double check that all the information is correct. You will also want to enlist the help of a professional photographer.
When it’s time to show your home, here are some tips to make it attractive to buyers. The home should be clean and free of your clutter. The more personal items of yours you can stash away, the better. This helps the potential buyer envision what their furniture and belongings will look like in the space. You may also want to:
- Keep your home generally clean during the showing process, but ensure it is meticulously clean right before walk throughs.
- Turn on all the lights and open all the blinds during a showing. Make it as bright as possible!
- Prior to showings, light candles or utilize other diffusers to help make the home smell fantastic.
These small practices can make a world of difference.
Price your home realistically. This is where a real estate agent makes a substantial difference. Work with them to figure out a realistic asking price. Have you done any major changes to the home since you’ve moved in? Discuss these changes with your agent to see if they’ve made your home more valuable. Has the desirability of your neighborhood increased since you’ve moved in? Additionally, what did you pay for the home? Agents will have a better understanding of pricing trends in your area, and can in turn help you maximize your profits.