The median sales price of a home in January 2022 was over $350,000, a 15% increase over 2021. January is usually the slow time of year for home sales.
The housing market is unpredictable and if you’re selling your home, you might want to just put your home on the real estate market now.
The problem is that you could cost yourself a lot of money if you try to rush a sale through before the housing market cools off.
There’s a lot to selling a home. If you look at homes that get the best sales prices, they have something in common. They took the time to plan and prepare for the home sale.
How can you do the same? Read this guide that shows you exactly what to do before putting your home on the market.
1. Look at All Selling Options
What are your selling options? Do you have to go the traditional route to sell a home? Not necessarily.
It largely depends on your reasons for selling and how fast you need to unload the home. For instance, you might need to sell a home quickly because you’re behind on the mortgage.
In that case, consider selling the home for cash. You’ll get a slightly lower sales price, but you’ll be able to close the deal quickly.
If you want to sell the home because it’s time to upsize or downsize, then you have the time and space to go the traditional route.
2. Hire a Real Estate Agent
For home sales that go the traditional route, you can either sell the home FSBO (for sale by owner) or hire a real estate agent.
It’s always best to hire a real estate agent than sell the home yourself. They have the expertise and local real estate market knowledge that you don’t.
An agent understands the nuances of real estate law. They can also negotiate contracts and get the best sales price for your home.
If you sell the home yourself, you could end up saving money on commissions, but spend hours on selling your home. You’re also adding to an already stressful situation.
When you do hire an agent, get recommendations from people in your circle. Look at their websites, read reviews, and interview several agents.
You’ll find the best one that can sell your home quickly and for the best sales price.
3. Get a Home Inspection
Most homeowners wait until late in the home selling process to get an inspection. That’s one of the top mistakes that home sellers make.
Getting a home inspection now lets you sell the home quickly. You’ll know if there are any issues with the house before you put it on the market. If you wait, a deal could fail to reach closing.
Find more info on ibuyhousesboise.com about this and other mistakes that home sellers make.
Work with your real estate agent to find the best home inspector in your area.
If you’re selling the home on your own, get a professional appraisal. That ensures you’re pricing the home at a reasonable sales price.
4. Declutter and Depersonalize Your Home
First impressions are everything to home buyers. If you want to attract people willing to get into a bidding war, you need to make your home impeccable.
Start by getting rid of the clutter in your home. It’s a great time to decide what to take with you when you move and what you can part with now.
Box up personal items like your personal collections and family photos. You don’t want the home to look like it’s lived in. It makes potential buyers feel that they’re invading your space.
5. Improve Curb Appeal
Curb appeal is the first thing buyers see when they drive up to the home. They might look at photos of the exterior of the home, but they don’t get the full impact.
Curb appeal can add as much as 7% to a home’s value.
Add plants and flowers to the front to make your home look bright. Paint the front door and change the hardware.
6. Make Small Repairs
There are probably a dozen or so nagging things about your home that you haven’t had time to deal with. Now is the time to deal with them.
If there are small leaks in the home, fix them. Update faucets and hardware to give your home a modern look.
Replace broken roof shingles and take care of any other small issues before selling your home. These things will matter when you’re negotiating a sales price.
7. Stage the Home
Sellers often wonder if they should stage the home or not. Staging does make a difference to buyers. Your job as a seller is to sell the potential of a home.
Home staging helps buyers see what they can do with the space.
Get a professional photographer to take pictures of the home. Buyers look online first, and this helps capture their attention and imagination.
Get Ready for Selling Your Home
Selling a home doesn’t mean that you should put up a for sale sign outside and see what happens. There’s a lot of work and planning that goes into putting a home up for sale.
To take full advantage of this real estate market, make sure you have the right sales strategy. Hire a knowledgeable real estate agent to guide you through pricing, staging, and selling your home.
Follow the steps in this guide as well, and you’ll be able to get the best sales price this housing market has to offer.
For more real estate insights, check out the other articles on the blog.