Everyone wants to get as much money as possible when selling their home! The good news is that it is possible to get over the asking price. However, to ensure that you get the most money, you’ll need to make sure that your home is up-to-par with what’s to be expected when home-buyers come knocking at your door.
These 5 tips below will ensure that you get the money your home is worth. Take a look:
1.Consider getting a loan to do some home improvements.
If you want to make sure your home’s resale value is high, you’re going to need to make sure that it’s “dressed-to-kill.” If the kitchen is a bit outdated or you need to retile your bathroom, this could be an ideal time to make that happen. You may need to get a loan to do these home improvements as they can sometimes be costly.
From VA loans to reverse mortgage options, there are ways you can invest some money into making your home get more money when it’s time to sell. Keep in mind, this is only worth it if these improvements are going to help you get enough to cover the expense when selling the home.
2. Make sure everything is up-to-standard for inspection.
It’s going to be a bit challenging to sell a home that simply won’t meet the qualifications that can have it passing inspection. While you can try to sweep problems under the rug, you want to avoid any potential home-buyers getting discouraged by issues.
In some cases, you may find that potential home-buyers will be willing to negotiate if the home does need some repairs but it’s best to avoid the potential for your sale to fall through because the home needs too much work. This is where home-improvements could be a good idea.
3. Consider the timing.
Knowing when’s the right time to sell is important as well. There are seasons when buyers are out in full-force and other seasons where the market is low. Take advantage of the high season by making sure it’s ready to be sold before then.
Other things to consider in terms of timing are if you have enough equity in your home and if your current city is seeing a boom because of rapid growth. In some cities like Austin and Denver where people are moving by the hundreds, it could be a perfect time to put your home on the market.
4.Set the right price.
You don’t want to ask for too little because you won’t get what your home is worth and if you’re reading this, you’re looking for ways to make more money with your home. On the flip side, you don’t want to overprice your home, as not only will this drive potential buyers away but it can also give the house a bad rep, which won’t do you any good as it could prevent you from making any sale.
Price it just right and you could get an eager home-buyer willing to give you over asking price so that they get the deal.
5.Take a look at the contingencies in the offers.
While you may be presented with a great offer, make sure to look closer. There may be an assortment of contingencies included that could make the deal one that’s not worth it.
From inspection contingencies to financing, you could end up losing money if the buyer pulls out of the deal and you’re left having to relist the home. Always read the fine print before going ahead with a deal. You’re in this to make more money, not lose it.
Wrap Up
Being able to sell your home for more money is a great achievement. It’s dependent on a variety of factors but these tips above can make it easier for you to understand what it takes. Best of luck in your endeavors!
Hi, I’m Anna the Editor of Beauty and Lace.