If you’re in the market to sell your home, the following basic points can help you prepare better and act as a reminder of some of the important things you need to consider.
It is optional to have your home checked for sale (pre-inspection), since most buyers will have an inspection done. If a buyer seeks financing, one will be done as a requirement from a lender. The advantage of a pre-inspection is that you can learn well in advance of any significant problems so that you can fix them.
This is important because as many as 15 per cent of home sales are falling as a result of an inspection a buyer backed out.
Costs for inspection vary from around $200 to over $700 or more, so getting that knowledge can help you prevent hard-arm deals and set a more fair price for your house. It will also show you which fixes are essential and which changes are negotiable with the buyer.
Updating Parts of Your Home
There are two different types of upgrades that you will be facing as a seller when you sell your house privately; required improvements and maintenance that can affect buyer decisions and cosmetic upgrades to boost the value of the home.
It is important that you do not categorise your updates the wrong way because it will bite you when potential buyers call. Having said that, some changes will spill over into both categories.
The most common updates include, for example, painting, bathroom renovations, landscaping, and new flooring. Some of these are achieved just for the sake of aesthetics.
If your home has ageing appliances and fixtures, it may not seem like a big concern, but according to Bankrate, these are things that turn off buyers and can prevent you from getting a higher offer on your home.
New equipment can cost you $500-$1000 in your home but it can make a major difference. Whether it's an obviously trivial upgrade or repair, don't leave it to the buyer or bargain. It could hinder all of them from making an offer together.
Advertising Your Home For Sale
If you want to sell your home quickly then you need to position it to do so. Homeowners who are doing the bare minimum and merely listing their property with a catchy summary must wait much longer for offers to come in.
You need to make your house stand out from other listings, so whenever it's time to list your home for sale, this is where you go all in.
Clean your home – you can clean every inch of your house, not the kind of clean where you're going to have a business. That's even beyond the "clean" when the family gather for the holidays at your home. Hire a professional company to come in and clean every square inch of any surface so that your home is as close as possible to "new clean home."
Stage your home – buyers want to be able to see themselves living in a home when they see it, and when someone else lives there, that's hard to do. When they look at your family's things and pictures, they can not picture a life there with their own family. The safest way is to move your stuff to your next home or store and set up the house with neutral, personal belongings-free furniture.
The positioning of a home for sale not only increases the dollar value received by prospective buyers, but about 50 per cent of buyers' agents see a positive effect on the buyer's view of homes.
Get professional pictures – Put away your smartphone and don't let your friend or even your agent shoot generic pictures. Investing in professional photography for your home is worth it. According to a Redfin survey, not only do homes with photographs taken using a professional camera/photographer sell faster but they get more money ... $3,400 more on average.
Traditionally, the sell my home way of listing your home for sale is a complicated task, but manageable with the right details and take the time to do some research and planning. Keep in mind though a traditional listing is not the best way to quickly sell your home.
A lot of steps from updates and preparations to the listing, marketing, and waiting for offers, negotiation, etc. In addition to the lengthy process, from the tips above, you can see that there are some (potentially substantial) out of pocket costs to help improve the odds of attracting buyers.