Best Practices When Listing Your Home For Sale

Do you currently have or are you thinking about listing your home for sale? If so, the chances are good that you want to derive as much value from your residence as possible.

First impressions are the most important, so taking measures to improve what potential buyers see when they view your property is a smart way to enhance the marketability of your home.

Here are some helpful tips to help you make your home more marketable when prospective buyers view your residence.

Make Affordable Upgrades and Improvements Before Listing Your Home For Sale 

You would be surprised at how big of an impact that economical upgrades and improvements improve the aesthetics of your home.

The first place to start is the exterior of your home. Does your house look dirty? What’s the condition of cement driveway, sidewalks, patios, and porches?

If these areas appear unkempt and stained, this could make a negative impression before potential buyers even step foot in your front door. The good news is that a professional power whisks these blemishes away quickly while adding a ‘sparkle factor’ to your property, making it more inviting and welcoming. With an average cost of a couple of hundred dollars, power washing is an effective way to rinse away debris that decreases the perceived value your home.

The same rule applies to your lawn and outdoor spaces. Almost all potential buyers are sure to appreciate well-kept landscaping. Regardless of whether you do the work yourself or hire an outside contractor to do the heavy lifting, keeping your hedges trimmed, adding ornamental plants, and keeping your grass mowed enhances the overall curb appeal of your property.

Now on to the Interior of your home. Trends and tastes in home decor are always in flux. If the inside of your home looks like the set of a 1990’s sitcom, it goes without saying that some improvements are likely in order.

Are your walls drab or stained? Consider a fresh coat of paint in a contemporary color. Are your lighting fixtures dated or unstylish? Think about replacing them with new pendant fixtures, sconces, ceiling lights, or ceiling fans to modernize. The same idea applies to plumbing fixtures. New faucets, cabinets, or countertops can significantly enhance the allure of your home.

Keep in mind that if you are unable or unwilling to make some smaller investments in the marketability of your home, the chances are good that you aren’t going to attract top dollar bids because it isn’t a ‘turnkey’ property.

Get Ready To Show Your Home

After making any necessary improvements, repairs, or upgrades, the next step is getting ready to show your home to potential buyers.

Here is some valuable advice to plan for walkthroughs, showings, and open houses.

Don’t be remiss in your duties to keep your home clean. You never know when a potential buyer will want to view your property. By keeping your home clean and tidy, you are always ready for a last minute walkthrough. Before a scheduled open house or showing, consider removing personal items such as family pictures and pet-related items such as litter boxes and food bowls. You want the potential buyer to be able to envision themselves living in the home, and pets and personal items could detract buyers.

You might also want to think about minimizing the belongings you have in your home. Are your closets or cabinets stuffed with clothes and other personal possessions? Consider selling them, donating them, or putting them in a storage unit. Decluttering helps in two ways. One – potential buyers can more easily see themselves living in your home, and two – you’ll have less to move when your home sells.

The Next Steps In The Selling Process

If you’ve received an offer on your home, you should always consider it, even if it’s lower than your asking price. An offer bid should get viewed as the beginning of the negotiation process and not the final offer. Submit a counter-offer and see if the party is willing to accommodate a higher asking price.

In the unfortunate event that you don’t get a buyer who is willing to pay your asking price, don’t despair! You still have options available. One alternative is renting out the home, especially if the market is unfavorable for buyers. You can derive rental income from the asset and wait to sell it when the residential real estate market conditions or demand improves.

We hope that you’ve found this article helpful and wish you the best of luck when listing your home for sale.

2018-04-06T16:23:41+00:00 April 6th, 2018|Categories: Real Estate Investing Education|Tags: |0 Comments

About the Author:

Michael Harrington is the Founder and CEO of National Real Estate Investors Group, headquartered in Buffalo, NY.

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