4 Questions to Ask Before Selling a Home
Selling your home is a big financial and emotional task, which requires planning. So before you decide to put your home on the market, here are four questions to consider.
What is my home worth?
With so many online resources that produce automated values for homes-many homeowners can believe their home is worth much less or much more than what a buyer would be willing to pay. Several factors go into determining your home’s market value. These include the condition of the property, square footage, location, amenities, as well as recent comparable property sales. For a snapshot of your home’s current value, you can enter your address into a free online value estimator tool. The most accurate pricing for your home will come from consulting a real estate professional on how to position your home in the current market.
How can I sell at the highest price possible?
There are several simple, low-cost things you can do to boost the value of your home. These include fresh coats of paint, eliminating clutter, washing windows and walls, and installing higher wattage bulbs to create a brighter environment. Larger projects, like adding bedrooms and renovating kitchens and bathrooms, typically yield more substantial increases in sales price- but will unlikely provide the return of actual money spent on the project. Staging your home, which helps paint a picture for how buyers will use their new space, can also add value-this may require a staging service or simple fixes recommended by your agent.
How long will my home be on the market?
The time your home spends on the market depends on several factors, including location, how competitively your home is priced, and how aggressively your home is marketed. Statistics show that if a home is properly priced, an offer should come in within the first 10 showings. If you want to speed up the sales process, don’t underestimate the value of staging. Research shows that well-staged homes can sell up to 32 percent faster than homes that aren’t staged.
How can an agent help?
A real estate agent can help with all aspects of the selling process, from staging advice, how to get it show ready, pricing, marketing, scheduling showings, buyers loan qualifications and likeliness to be able to close, clouds on title, inspection coordination, appraisal coordination, handling the intricacies of closing. An agent will negotiate on your behalf to secure the best price – and quickest sale – possible. An agent you feel comfortable with and who has the knowledge and experience will make the process as lucrative, smooth and stress free as possible for you.