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Making the Most Money When Selling Your Home

Friday, November 18, 2022   /   by Laura Larson

Making the Most Money When Selling Your Home

What do purchasing and selling a home have in common? obtaining the best pricing. It's not surprising that so much time is spent monitoring mortgage rates, figuring out how much house you can afford, the ideal location, and even the kinds of properties that might be profitable investments because purchasing a home is one of the biggest financial expenditures you'll ever make. But too frequently, when it comes to selling a house, homeowners simply put their house on the market and wait for the best offer.

Setting the right strategy before you sell your house is crucial for staying ahead of the competition, particularly in the competitive housing market of today. Additionally, putting in the effort in advance can make all the difference in getting you ahead of the selling curve and elevating the appeal of your listing. 

Check your ability to sell
Before putting your property on the market, it's critical to research the costs associated with selling a house in your neighborhood because it only makes sense to sell a house if you're going to earn money. However, determining how much money you'll make from selling your house is more complicated than simply deducting the amount of your mortgage that still needs to be paid. A number of fees, such as agent commissions, excise tax, title insurance, and other closing costs, which vary by location, must be paid when selling your house. An excellent place to start is by using an online real estate calculator that accounts for these variables. However, your best shot is to work with an agent since they are knowledgeable about the current market circumstances and the price your home can fetch. This will help you better grasp how much you can expect to get in proceeds.

Work with a neighborhood realtor
You'll benefit from having professional assistance and guidance from a real estate agent because the housing market can be challenging to anticipate, whether you're an investor or a real estate expert. An asset while navigating the nuances of the selling process is a local real estate agent who has the knowledge and expertise to assist you to receive the most money from the sale of your house. In addition, your real estate agent can help you with negotiations, staging, marketing, and keeping up with local market trends and legal requirements.

Set a reasonable asking price.
Nothing turns away potential homebuyers like an expensive listing. Finding out how much your home is worth and looking up nearby real estate comparables will help you determine how to price it for the market. You'll then have a basic notion of what houses are selling for in the neighborhood. Having a real estate agent on your side can help sell your home for more money after you've done your research. Request a comparative market analysis (CMA) from your real estate agent to help you establish a fair asking price based on recent sales of comparable houses in your neighborhood. In order to get the necessary exposure for your listing, your agent can also work with you to choose the best price to encourage buyers to arrange a tour to see your listing.

Time it properly.
It's vital to think about which time of the year could be the ideal to list your home because doing so at the right time can help you optimize the sale price. For good reason, spring is frequently cited as the ideal season to sell a home. The best day to list your home is a Tuesday, Wednesday, or Thursday since homes listed for sale midweek sell for an average of $1,700 more than homes listed on the weekend.

Improve your home to sell it for more money.
It should come as no surprise that purchasers spend the majority of their time touring listings in the kitchens and bathrooms. Therefore, remodeling your kitchen or bathroom is among the best expenditures you can make to raise the value of your property if you're deciding which repairs to make before selling. However, there are numerous other inexpensive tasks you can complete to provide a wonderful first impression, such as changing your front door, adding dual-pane windows, painting the outside, and keeping up with the yard.

Don't forget that thorough cleaning of your home's interior and exterior can do wonders for revitalizing its appearance. You can make your house appear well-maintained to keen buyers by washing the windows, steam cleaning the carpets, pressure washing the deck, and cleaning your appliances. A neat and organized home is perceived as having more value than one that needs work, which can increase the price at which it is sold.

Improve your marketing with staging and expert photography.
When selling a house, staging is a typical practice that should be a major part of your plan, especially if you want to sell your home for the highest price. An expert stager can help buyers picture themselves living in a home that is ready for moving in by neutralizing the space. Additionally, stagers have the skills necessary to highlight your home's best features and create a cozy, welcoming atmosphere.

Once your home is in top condition, hire a pro to take listing photos because homes with professional photos typically sell more quickly and for a higher price. The majority of consumers begin their home search online, thus appealing photos are essential. Having appealing listing photos is essential for showcasing your home's features and can include some home trends buyers are interested in, which can make all the difference in whether a buyer decides to view your listing or ignore it entirely.

Think offers over carefully, and be prepared to bargain
A knowledgeable listing agent will recognize a strong offer when they see one. As well as advising you on whether to negotiate conditions and costs, they will walk you through the offer process. The highest offer may catch your eye, especially if it is near or above your asking price, but it does not necessarily mean it is the best one. Your agent will be aware of what is "normal" in terms of offers and when someone is attempting to get a deal. To ensure you get the best deal, you should take into account the entire offer's terms, not just the price. You should be sure to carefully analyze any stipulations that a buyer has added because they will determine when you will be paid. Keep in mind that your real estate agent has the tools and expertise to guide you through the procedure. You may start the process of selling your house with the assurance that you'll receive the greatest offer if you do the necessary planning and have a real estate agent on your side.