Congratulations on your decision to sell your house, this is an exciting business you're getting yourself into. Whether it's selling your parents? house, your aunts?, your close friend's, or even your own home, there are some things to consider before you can start marketing the house. One of which is how to set the price.
It's really important to take some time and planning before you finalize your home selling prices. If the price is too high, the home will stay in the market for too long, waiting for someone who can afford it. Even if you chose to reduce the price later, it would show the potential buyers that even the seller realize that the home selling price was too high (and probably still is). But if the price is too low, this would easily sell but eventually brings damages to the sellers? net expectation!
If you're selling your own property, the chances are you're going to want to set the price as high as possible. This might seem like an obviously silly thing to do, but it happens to a lot of people who either cherish their house too much, or are simply not aware of the real value.
The first case is a lot better to handle. Remember that apart from the location, your home selling price is a major consideration in purchasing. So no matter how much you love your house, try to set a realistic price. Some things that might decrease (or increase) your home selling price are as follows:
a. Location. Sorry, this one's a definite. A home in a more desirable area will cost more than less desirable ones.
b. House status and condition. A good maintenance shows that this home is worth being looked after.
c. Neighbourhood. Check out schools around the house and their quality. See how the weather would take effect. Watch those pesky neighbors. These things, though seemingly miscellaneous, applies to buyers and can affect the overall home selling price.
d. Added features. Does the house own something the market is demanding? Does your home have a pool or a beautiful patio? Don't hesitate in taking them into account of setting the price. Be realistic, though ? a dusty, never-used fireplace, no matter how classy, will do nothing to your home value.
The second case ? where you're not sure of your house's value ? is a bit more tough. You might want to read some home selling advertisements to see the price of the houses similar to the one you're selling.
To help you finish off with an ideal home selling price, some standardized methods of price setting have been established. A Comparable Market Analysis (CMA) is ?a comparison of similar properties in the same general area that compares actual sold prices?, in other words, comparing your house to similar ones to get a rough value. Nowadays Agents can do CMA for you, and you can even do it yourself by the help of some websites.
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All experts agree that hiring a real estate agent is the best way to sell your house for two reasons: one, it will speed up the process and second, you will get the highest possible price. You may want to sell your to upgrade, downsize or relocate. No matter what the reason for selling your house, the real estate agent will best represent your home and cater to your needs and interests.
How to find the best real estate agent? The best bet is to ask your friends, family members, or relatives for a referral since word-of-mouth advertising is the most reliable method as it is based on practical experience. However, if this fails, you may contact a well known real estate office, like Remax or Coldwell Banker and work with one of their affiliated agents or ask a company you can trust for a referral.
The real work starts after you have chosen a real estate agent. Always keep in mind that the listing of the house should be done after its proper cleaning and maintenance. The way you present your house to the potential buyer is extremely crucial in the entire selling process- hence list your house after the necessary work and upgrades. The size and location of the house determines its actual price. Hence do not ask for more than your house is worth- you would never get it. Here your real estate agent would be of great help. He would take into view your requirements and age, condition, size and location of the home.
Cleaning your home is essential when it comes to selling it quickly and for the highest profit possible. Give each room a good scrub down and be sure to tackle the home's exterior as well. Potential buyers will look at the home in a more favorable light if the windows are sparkling, the floors are clean, and the walls are free of scuff marks or blemishes. If you do not have the time to do so, hire a cleaning agency to thoroughly clean your home before you complete the listing.
Special care should be taken to ensure that each room in your home looks as specious as possible. Removal of excess furniture is essential in this regard. Even big rooms look small due to the owner's penchant for stuffing it up with many pieces of furniture, and other items that take up space. Furniture that covers up most part of the room should be removed. Keeping these factors in mind would attract the attention of the potential buyer of your home. If you do not know what to do with the excess items, contact a storage facility that will store these for a charge.
Make an effort to ?de-personalize? your home so that potential buyers can see their families in your house. Houses that lack personal photographs or items that denote the interests and activities of the current residents tend to sell quicker and for a higher price than houses of comparable size that is filled with personal mementoes of its residents.
The exterior is most important at the time of selling your home. It is said that majority of the buyers make up their mind as they enter the gate. So, make sure the deck or patio is very impressive and the furniture is thoroughly clean.
These practical tips will be able to turn your home into cash for you or your family. The secret lies in putting a bit of work and time into readying your home for its listing on the market since it directly affects its selling time and price.
Both James Gunaseelan & Bob Avci 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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