When we think of selling our home, we take it as a given that someone will just buy it in the time frame we need it to sell. Unfortunately, many watch time pass by with the house still sitting on the market much longer than anticipated. This can put a serious crimp in your plans and cause major stress. While there is no magic formula for a guaranteed sale, there are certain strategies that may help move things along at a faster pace.
Make Your Home Stand Out
Making your home stand out in the neighborhood ( in a good way, not in a way that makes the house look totally out of place), can up its appeal factor exponentially. If you are up against others selling similar types of houses, you need to make yours pop. Make the landscaping more attractive, give it a fresh coat of paint, or at least a good power washing. As for internal improvements, tread carefully. Not every upgrade will result in an increased value sufficient to recoup your investment. For example, you may think that adding another bathroom would surely net you a good return, but on average, you can expect only about 58 percent return. A nicer kitchen is always a great selling point, but a high-end complete remodel may be taking it a bit too far.If you go this route, do your research and focus on improvements that make financial sense.
Your pricing strategy can make a big impact on how fast your home sells. There is one strategy many realtors recommend and believe is the best in the current market—pricing the house below value from the start. They reason this will bring in multiple bids quickly and create some stiff competition, resulting in higher offers that will eventually get you to the true worth or beyond. But, this strategy may not always be necessary, especially if you have made a lot of improvements to the home, and it is clearly worth more than similar homes on the market without similar upgrades. Ultimately, you should discuss a strategy with your real estate agent, who is most knowledgeable about what homes are selling for in your area.
Sweetening the Pot
There are several ways you can make your home more enticing to prospective buyers. Offering credit towards closing costs, or offering to pay costs altogether, can be a strong motivator. This is money that the buyers need to come up with in full right now, so lifting that burden can hold particular appeal. You might offer to pay points on the mortgage interest rate for a certain period of time after the sale to bring down their monthly payment. If the house needs a bit of work, you might offer to pay for things like repainting or new flooring. Giving money toward appliances may also work. A transferrable home warranty is also an attractive addition to your package, and will only cost you a few hundred dollars. If you do not know too much about these products, take a look at this Arizona home warranty as an example.
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