In these tough economic times, many people are concerned over whether or not they will be able to sell their houses if they need to. Potential buyers are becoming increasingly picky since the prices of many homes (if not all homes) has taken a dramatic fall over the past year. Therefore, more homeowners are having to do everything that they can in order to make their home stand out amongst the other homes. If you think that fixing your home up is expensive, you are both right and wrong. Fixing up something like your kitchen can cost upwards of $35,000 depending on the materials, cost of labor, cost of installation and purchase of new appliances. However, fixing up your home in general doesn't have to cost you an arm and a leg. Sometimes it just takes a little insight.
There is something called ?curb appeal? when it comes to buying a home. Think of it as judging someone or something based on how they look. For instance, if you saw someone dressed in a suit and tie, you might assume one thing versus seeing someone dressed in dirty clothes. The same goes for your home. Many potential, future homeowners will actually go for rides around neighborhoods that they find interesting and will look at the houses on the street. As people who are simply ?passing through? the neighborhood, they don't know anything about your home except for what they see on the outside. And if what they see on the outside of your home is a vision of a house that is dilapidated, falling apart with grass overgrown and the roof caving in, chances are that they will probably assume that the interior of the house doesn't look so hot either. Is it their fault for thinking this way? Absolutely not.
Something as simple as a fresh coat of paint to the exterior of the home or even power washing your house can do wonders. Mow the lawn and plant a few fresh flowers (which are relatively inexpensive) to give the exterior of your home a face lift. If you have a little more time and money to invest, you may want to look at things such as redoing the steps to your home, checking that the roof isn't in need of repair and fixing the fence or adding one if need be.
It is of the utmost importance that you always keep the potential buyer on your mind when making any repairs to the exterior of your home. The same goes for the interior. When buyers step food into your home, they want to be able to imagine themselves living there. This is why it is important to create as neutral of an atmosphere as possible. If you have personal pictures of family and friends hanging all over the walls, take them down and store then temporarily. After all, how can you look around and imagine yourself living somewhere if you see pictures of someone else's family? Vacuum the carpeting and clean hardwood floors. Make sure toys and any other unnecessary items are safely put away and out of sight; it will make a huge difference.
Can My House Sell
Not only do the neighbors begin to realize that your home has been on the market for quite a while, but certainly so do the real estate agents. Even some of the potential homebuyers might realize that your property has been for sale for quite some time now. Surely, something must be wrong with it. What is it about your home that is keeping it from being sold?
The Overpriced House
A house that is overpriced is not going to sell as quickly as other properties simply because a quick comparison of prices will show that it is overpriced. Real estate agents won't even want to show it after a while, leaning toward properties that are more likely to sell. After all, they want to earn a living and trying to unload a property that is simply marked up too high is next to impossible.
A good real estate agent will insist that you lower the price before putting it on the market. You should listen to him if you want to sell your home in the near future. Take note of the pricing strategies of luxury homes during slumps in the market. Those properties are marked down not by hundreds of dollars or even thousands of dollars, but they are marked down by millions of dollars.
If you price your home reasonably when you first put it up for sale, you are more likely to sell it quickly than if you wait. Once a home is visibly marked down with a ?price reduced? label, every potential buyer is instantly aware that your house has been on the market for a while. They are going to know that you are not a person who is up to any more compromises. After all, you priced your home much higher than the market would bear.
The Dump or Poorly Maintained House
A house that is a real dump is not going to sell because it is a dump. The word ?dump? can be used to describe a house that has a wide range of problems from dirty, in need of repairs, and unkempt to falling apart at the seams. Homeowners who do not take care of their houses while they are living in it risk the possibility of not being able to unload it when they want to do so.
A dump typically has more wrong with it though than a few ?sadly in need of paint? walls and carpets that look like the entire world came tramping through after a walk through a swamp. A dump has structural problems that are real eyesores and that a few cosmetic strategies are not going to solve.
What good is a coat of paint on the front porch when the floor slats are clearly rotting out on the perimeters? What good is a new bush or two on the side of the house when clearly every tree in the back yard is dying from some type of disease? What good is allowing the buyers to keep the washer and dryer when the home is clearly infested with mice, cockroaches, and other vermin? And what good are a few dirty, but pretty, curtains when every window refuses to open and the screens are all missing?
Plus, a dump is simply one of those homes that you know you do not want to enter even when your real estate agent insists. It is one of those homes that clearly smells like animal urine as you approach it from the sidewalk. It not only has a fine coat of dust covering the window ledges or fireplace mantle, but it also has a fine layer of grime covering the walls, ceiling, and steps to the basement. It simply doesn't matter how much potential it has. Would you want to live there?
However, if the homeowners clean it up, then it is no longer a dump and it might eventually sell. Then again, a dump in your eyes might not be the same as a dump in someone else's eyes. After all, it is all a matter of perspective. Nonetheless, a house that was once a dump is always a dump in the eyes of the people who have already seen it, including the real estate agents.
Who Did You Say Is Selling Your House?
If you pick the wrong person to sell your home for you, you could be in even bigger trouble than you think. After all, if your brother-in-law is a real estate agent and you list your home with him, he is going to be sharing a bit more than the specs in the paperwork. Let's face it, people like to share what they know without even realizing they are doing it. It is simply human nature to talk to those around us.
Before you know it, a conversation about the new roof leads to the fact that the house had some structural inconsistencies leading to the roof's collapse. Gosh, would you want to live in a house like that? What else could be wrong with it? Or perhaps he will share the fact that the neighbors are real party hounds during the summer and your kids cannot get any sleep before 10 pm when the law reinforces the ?peace and quiet? guidelines of the area.
How much harder is it to sell a home when every tiny negative aspect is laid out on the table for the potential buyers? Yes, the homeowners do have the responsibility to disclose certain things, but do they really have to tell the potential owners that the teenager down the block revs his car at 7 am in the morning every day or the neighbor's cat likes to spray in your garden?
A real estate agent who knows these things is going to share these things without even realizing that he is doing it. It is simply normal conversation to share when someone else shares. In fact, he might even think he is being helpful to point out certain things. Let's face it though, some things are better left unsaid.
Both Brenda Williams & Luat Tran Van are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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