We found a helpful “How-to” article about getting a fair price for your home. As realtors, we strive to get you the most on the sale of your home and the least on your purchase. Get in touch to find out what works to get you top dollar on the sale of your home. Wondering what your home is worth? Call us for a complimentary market evaluation. We make real estate goals happen!
Realestblog | Gavin Grant | July 2020
Selling your home, in some ways, is like buying one. No one wants to feel like they’ve been ripped off. That said, there’s a balance between selling your home short and inflating its price. Sometimes that line can be subtle. Other times, it can be very apparent. The trick is to find that perfect deal that is fair to you and will also be reasonable for the buyer.
Increasing Value
The adage “You have to spend money to make money” is true when you’re selling your house, too. It’s best to try and increase the value of your home even before putting it on the market. First, you have to make all the necessary repairs and fixture replacements. Here are some additional things you can do:
1. Paint Job
You’ll be surprised by how much a new coat of paint can reinvigorate the look of your home. Whether you go over your whole house in one session or plan and go through each part for a couple of weeks or months before selling. Just make sure the paint matches each other and the whole home. Here’s HGTV with some insightful tips on choosing colors.
2. Outdoors
It’s essential to focus on each part of the home when considering a value increase. The outdoors can easily be overlooked here, which would be a mistake. It’s a great selling point since green spaces, even small ones, have been found to offer benefits to mental, physical, and social well-being. Add shades. Maintain your lawn and garden. Treat trees. Help your buyers imagine relaxing Saturday afternoons in the yard.
3. Storage
Space is always increasing in value. That’s why the more creative you are with the use of space within your home can help increase its appeal. Add storage features through simple shelves that go seamlessly with the house’s architecture. You can add alcoves to big windows and other storage spaces that have dual uses. The buyers will love it.
Pricing
Once you’ve done all you can when it comes to raising the value of your home, it’s time to put it on the market. Coming up with the right price is the most important part here. There are several things you need to know first:
1. Comparative Market Analysis (CMA)
This basically means looking at other similar listings in the market to come up with a price for yours. Keep in mind that location and the time when the listing was released are critical in this comparison. Listings in the same place, with the same house features (number of rooms and baths), tend to price similarly. You can also look at what’s been sold in the last six months to see if a price is viable. Checking withdrawn and expired listings can also give you an idea of pricing trends.
2. Too High or Low
It can be tough to come up with the right price, especially if you’re inexperienced with selling. Going too high can decrease interest and hurt your chances of a sale. Going too low may attract several offers and increase the price of your listing.
3. Professionals
If the process of coming up with a price for selling your house and lot seems too tedious, you can always work with real estate agents to introduce you to the market and explain parts in detail.