There are many reasons why you might be selling your home. In a military area like Colorado Springs, it can often be the result of reassignment. Other reasons include finding a bigger home for a growing family or downsizing because you are an empty nester. If you are considering selling your home, it is important to make sure that it shows well to get you the best offer. What are some of the key areas that you need to consider when preparing your home for sale?
Research Your Local Market
Working with a realtor, you can get an idea of the housing prices in your area and local economic conditions. It is also important to know how many houses are on the market in your neighborhood and how long they have been on the market. Comparable homes can give you an idea of the features that are drawing buyers in.
Once you understand the market, then you need to set a price for your home that reflects the market. Do not make an emotional decision or tie your price to a previous home value. After all, the market is always changing and if you overprice, then you run the risk of being unable to sell your home.
Improve the Curb Appeal
No matter how many amazing features you have in your home, it will do little good if individuals are not willing to step inside. The curb appeal, or lack of it, can impact whether you draw buyers in or scare them away. Those potential buyers make snap judgements and if they see the front of the home in disrepair, then it makes them wonder if you have neglected maintenance in other areas of the home.
Make sure the grass is mowed and any flower beds are weeded. If possible, plant fresh flowers to give your home a pop of color. It does not need to be a big investment, but the return is a positive first impression.
Get Rid of the Smell and the Clutter
If you are a smoker or have pets, you might have become accustomed to the odors associated with them. However, your potential buyers are going to want to walk into a fresh smelling home. Therefore, it is important to have carpets and furniture deep cleaned. You should also consider painting the walls to get rid of any smoke smells.
Another consideration is to eliminate all the personalization in your home. That crazy color you love in your bedroom? Paint over it and create a neutral palate. The point is to make this home appealing to potential buyers and help them see themselves in the rooms, not your family and personal knickknacks. While you might not want to go with a professional staging company, it is important to get an independent perspective regarding what needs to stay and what needs to go.
Highlight the storage in your home and be sure to pack up your belongings before you start having any showings. Make sure to keep closets and other areas clean and organized, because buyers will be looking. If it looks crowded or cluttered, they might conclude that storage is lacking in the home and opt not to make an offer.
The point of staging your home is to highlight the positives of each room and make it appealing overall. That means accessing your home for any minor repairs that may need to be done. Give a good first impression, one that will help buyers remember your home.
Social Media Exposure
While your realtor will be doing their job of finding potential buyers for your home, you can do your part by talking about the positives of your home and its location on social media. When your realtor puts your home on their site, link to it and share with friends.
Recognize the Costs Associated with Selling
When you sell your home, remember that you are still going to have costs associated with the closing. Therefore, when you determine whether to except an offer, remember that you will still have to pay real estate commissions, closing costs, title charges, and other associated expenses. Plus, you will have to pay off any mortgage still owed on your home.
The offer might sound good, but once these expenses are deducted, you might find yourself not walking away with the profit you anticipated. Before excepting any offer, go over it with your realtor and determine if it is in your acceptable price range.
Part of the process of selling your home includes looking for a new one. Working with Elevation Mortgage, we can have you pre-approved before you put in an offer. Contact us to learn about your options today!