Real estate is a major investment, and people hope to get a great return when it’s time to sell. Unfortunately, there is no guarantee that you’ll profit from the sale of any home. This is why it’s important to prepare ahead of time and give yourself the best chance for a profitable and timely sale. It will require a little more work ahead of time, but it will help ease the stress of having your home on the market.
INVEST IN AN EVALUATION
Spend a few hundred dollars on an honest, neutral, third-party evaluation. This will help you set a good price and provide you with written information that can be shared with potential buyers and realtors if your price is questioned. It will also prevent you from setting the price too high or too low as you begin the process.
CHECK THE COMPARABLES
Part of the honest evaluation includes knowing what your competition is. It’s not just about looking at the homes that are currently for sale. You also need to review homes that have sold recently in order to have an accurate picture of your particular market. As you review the information, you can look for mistakes other sellers may have made and try to determine how you can avoid making those same mistakes.
REMODEL THE KITCHEN
Kitchens are the heart of the home, and the kitchen is one of the first thing a buyer is going to look at. Make the investment in your kitchen to help fetch a higher selling price and faster sale. Look for energy efficient appliances and modern lighting. Give the cabinets a good scrubbing and put a fresh coat of paint on the walls to make everything look fresh and new.
ADD A BATHROOM
Most homes on the market have at least two bathrooms. If your home is still a one-bathroom, then you may have to add another one to attract buyers. A full-bath is ideal, but even a half-bath can drastically increase your home’s appeal and help you get a higher price.
LOOK AT THE BASEMENT
Buyers are all about the available space, and that includes what’s in the basement. If your basement space is currently raw and unfinished, you may want to work with contractors and start reviewing your options. Adding a guest suite, home office or home theater to this area can give your home an important competitive edge.
UPGRADE DOORS AND WINDOWS
Homebuyers walk into a home and want to see modern options. They don’t care if the doors are high-quality oak if they’re 50 years old and have zero visual appeal. If you’ve been ignoring the dated doors and putting plastic over aging windows, then this is the time to make the investment in new options that are energy efficient and attractive. It will make your home more sellable and help you realize a higher profit. Otherwise, you’re just going to have people walk away with making an offer or making reduced offers that destroy your profit margin.
IMPROVE THE EXTERIOR
A fresh coat of paint and cleaned up landscaping can go a long ways towards selling your home. The exterior of your home is the first impression buyers get, so take steps to make it as attractive as possible.
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