What to Consider Before Putting Your House on the Market
Home prices jumped almost 30% since 2019. If you want to sell a house now, you could make $30,000 more on the sale than in 2019.
That might be enough to put your house on the market immediately. The thing to understand is that there are home sales that sell for less than their true worth.
You can’t rush if you’re putting your house on the market. Selling a house is complicated, even in today’s hot real estate market.
How can you make sure you get the best sales price possible? It all starts with what you do before putting your house on the market.
Keep reading to learn what you need to consider before selling a house.
Timing of the Sale
The timing of the sale impacts the sales price of the home. Right now, most cities have a hot seller’s market, where they’re getting dozens of offers on a listing.
That’s not the case everywhere. You may have to wait until warmer weather arrives. That’s when buyers are out searching for homes.
You also have to consider interest rates. That’s a key driver of the hot real estate market because buyers want to take advantage of low interest rates.
Once interest rates climb, the real estate market will cool down.
Another aspect of timing has to do with your next home. If you’re selling your home and buying another, will you be able to buy a home in a competitive market?
This is something that you need to work out before selling a house.
Reasons for Selling
Why do you want to sell your home? You might be financially driven and need to save for retirement.
There are situations where you need to sell a house just to relieve yourself of a property. You may have inherited a property that was uncared for over many years. It would cost a lot to fix and maintain, so a quick sale would be the better choice.
You might need to sell because of financial difficulties and risk losing your home.
Who Will Sell Your Home
You need to decide who and how you’ll sell your home. This isn’t always that straightforward.
If you’re in a situation where you need to sell the home fast, go for a cash sale. Visit this website to find out more about selling your home for cash.
You could sell the home yourself or hire a real estate agent. Both processes take longer than selling your home for cash, but they might be the best solution for you.
If you decide to use the services of a real estate agent, be sure to interview several agents. Get recommendations, learn about their experience, and make sure they can handle selling your home.
Clean Up the Home
Don’t show the home full of weeds, clutter, and family photos. Buyers get drawn to homes that are clean, clear, and mostly empty.
When buyers look at a home, the first thing they do is imagine how they use the space. Stage the home so it’s not too cluttered, but gives buyers a general idea of what they can do with the home.
Set a Sales Price
Are you selling your home yourself? You’re likely to set a sales price that’s higher than what the market can bear.
A real estate agent will perform a CMA (comparative market analysis) of your home. They’ll look at similar properties in your area and the sales prices of homes over the last 90 days.
You have to get this just right before putting your home on the market. A low sales price will get a quick sale, but you’re going to get less than you could.
A high sales price will have your home sit on the market. The longer it sits, the harder it is to sell. People think there’s an issue with the property and stay away from it.
Inspection and Appraisal
Sellers often wonder if they should get an appraisal before they put the home on the market. They want to make sure they get the sales price right, yet they don’t want to spend the money on an appraisal.
Get an appraisal if you’re selling the home yourself. An appraisal is also an option if you think that your agent’s recommended sales price is off the charts.
A home inspection before putting your house on the market is a good use of funds. The inspection tells you if there are major and minor issues with the home before selling a house.
That enables you to take care of the issues before putting your house on the market. You can justify the sales price knowing you just made improvements to the home.
Listing and Placement
The listing of the home describes all of the features, amenities, and other great things about the home.
The listing is important, but you want to pay special attention to the photos of the home. It pays to have a professional photographer take images of the home.
They’ll make use of natural light. They’ll ensure your home creates a wonderful first impression.
Tips for Putting Your House on the Market
Selling your home is stressful because you have so many things happening at once. You’re making a huge transaction to sell your home. There are a lot of emotional upheavals that come with selling and moving, too.
Before putting your house on the market, know why you sell your home and get the timing right. That will help you set the best sales price for the home.
Follow the rest of the advice in this article, and you’ll be on your way to an easy house sale. For more real estate advice, head over to the home page of this site.