Being a savvy mom, you probably know how to stretch a dollar. Now, imagine applying those skills to the process of selling a home. With an average sale price of $374,900 on newly built homes in the United States, there is considerable room for maximizing profit and saving money. This article will guide you through successful strategies and provide helpful tips for keeping costs down.
The Importance of Preparation
Contacting a realtor, staging your space, cleaning, and fixing potential issues before listing can propel the success of your home sale. In fact, research shows homes that are prepped for sale sell 88% faster and for 20% more than their peers. Your astute attention to detail will not only impress potential buyers but could drastically drive up the value of your home.
Selecting the Ideal Realtor
Choosing the right realtor could mean an extra 5% to 11% in your pocket after closing. Look for a professional who is experienced in your local market and ask about their sales record. It is crucial that the realtor understands your financial goals and will work diligently towards achieving them.
The Power of Staging
Professionally staged homes spend an average of 11 days on the market compared to 90 days for non-staged homes. Staging transforms your home into a product marketable to the widest audience. Although it may require investment upfront, the return can be substantial.
Smart Pricing Strategy
You want to set a price that will draw in potential buyers without sacrificing your profit. Research similar properties in your area to get an idea of what you can realistically expect. Overpricing your home could result in longer time on the market, which can deter buyers.
Regarding Repairs
Addressing any necessary repairs before listing will prevent potential buyers from using them as negotiating points, reducing the amount you could earn at closing. Additionally, renovations that can enhance the value of your home will also help increase its selling price.
Prioritize Curb Appeal
A home that looks appealing and well-maintained from the outside can instantly improve its perceived value. Small investments in landscaping or exterior paint could help attract buyers willing to pay top dollar for your property.
The Value of Professional Photos
In today’s digital age, having an eye-catching online presence is crucial. Hiring a professional photographer to capture your beautifully staged house will significantly increase online engagement and foot traffic. Homes with professional photos sell 32% faster, justifying its upfront cost.
Importance of Energy Efficiency
A modern buyer often prefers green or energy-efficient homes, which can reduce utility bills and benefit the environment. Considering minor upgrades like installing energy-efficient light bulbs or appliances could add value to your home and appeal to these buyers.
Timely Response to Offers
Quickly responding to offers projects readiness and interest, potentially tempting the buyer to close the deal faster. This approach may encourage buyers to stick with your property rather than considering others.
Negotiating like a Boss
Expect buyers to negotiate. Be prepared, stand firm on your price, yet still remain open for reasonable negotiations. Equipping yourself with substantial research and an understanding of market trends will ensure you handle such situations tactfully.
Saving on Closing Costs
You have worked diligently to maximize your profit. Now, it’s time to save on closing costs. With average American closing costs sitting at about $3,700, there’s room for negotiation here too. Ask about which services are actually necessary and see if you can negotiate costs with your lender or real estate agent.
Invest in a Home Warranty
A Home Warranty offers coverage for repair and replacement of major appliances and systems. It not only provides peace of mind to the buyers but also prevents post-sale disputes, making it a worthy investment.
Flexibility Matters
Being flexible with showing times, moving dates or minor adjustments to the house could help in closing the deal faster and even increase the final sell price. Flexibility shows goodwill and could motivate potential buyers to choose your property over others.
The Art of Detachment
Successfully selling your home requires you to emotionally detach from it and treat it as a business transaction. This approach helps you make more objective decisions that are most beneficial to you financially.
Selling Successfully
You now possess crucial knowledge to maximize profits from selling your home. By meticulously curating every aspect of the sale, from preparation to negotiation, you’ll earn the biggest bang for your buck. Remember to be diligent and smart about each decision on this journey; after all, each step is an opportunity to maximize your savings and profit.
