Whether you are a first time home seller or have some experience selling a property, there are always opportunities to use helpful tips for selling your home. The housing market Is always changing, with differences noted from region to region throughout the country. But where should you seek out tips from, and which ones are most relevant to you.
It All Starts with Location
Location, location, location is an old phrase used in real estate for many years in reference to the most important factor in buying or selling a property. This is true of who you obtain tips for selling your home from as well. The demand for housing can vary dramatically by just a few blocks, especially when you factor in variables like school districts (and some being much more desirable than others). So you will want to make sure you are getting advice from experienced professionals who know the area inside and out. You will want to talk to companies that have bought and sold homes not only in your city, but in your neighborhood as they will have the best feel for the potential value of your home.
So what are some tips for selling your home related to your location?
Tip 1: Research Your Area:
One important first step is to research what other homes near you have sold for recently. This will give you the most direct idea of what your home is worth. Professional home buying companies like FasterHouse have access to this information, as do real estate agents should you choose to work with one of those. And you can actually find some of this information yourself by conducting internet searches through sites like Zillow.
When you are prepared with the prices other homes have sold for recently, you can begin to answer your own pricing questions. Can you expect to sell the home for the amount you need to pay off your mortgage? What sort of profit might you expect beyond paying off your mortgage? You can look at how quickly homes sold to understand how long yours might be on the market as well.
Researching comparables in your area will get you off to a great start in the process of selling your home.
Tip 2: Identify Your Budget for Selling Your Home:
Wait, I need a BUDGET to SELL my home? I am selling it, what would I need to pay for, you might ask.
If you are a first time home seller, you might be surprised at the costs associated with selling your home. Do you plan on using a real estate agent? If so, you will need to pay fees to them. Those fees help cover their time, payment to their employer, and costs associated with marketing your home as they will provide signage, brochures, and visibility on real estate listing sites.
If your home needs to be decluttered, you will need to pay for a storage container or offsite storage. You will likely encounter costs associated with getting your home ready to show as well, as you will at minimum need to buy paint, landscaping, and other things that will help spruce up the interior and provide curb appeal on the exterior.
Repairs are another cost you will have to factor in. The home inspector who reviews your home will flag any major issues and you will need to repair them before selling it. And your buyer might require other repairs as a contingency of the sale.
Once you have all those other costs out of the way, you will then need to pay closing costs, which covers fees to third parties like the title company you work with.
If paying all those fees sounds unappealing to you, you might want to consider selling your home as-is to a home buyer like FasterHouse. You won’t need to worry about exterior curb appeal, or interior repairs. You won’t need to pay fees to an agent, or pay for repairs mandated by a buyer or inspector.
Tip 3: Know Your Timeline:
Selling your home can be an unpredictable process in terms of timing. Your home may go within a week of putting it on the market, or it might take several months to a year to sell it. With this in mind, it is critical that you have an understanding of how urgent it is that you are able to sell. Will it be a financial issue for you to pay for the mortgage for your old home for several months if you are having trouble selling your home? Or do you need cash the same month you decide to sell your home?
This is another area where an as-is sale might be especially appealing, because home buyers like FasterHouse make a cash offer for your home within days of seeing it. This removes a great deal of uncertainty and anxiety around selling your home.
Follow these tips in planning to sell your home and you will enjoy a low-stress, successful sales experience!
Call 314-926-0660, or fill out this form to sell your house today!