Your home is most likely the largest asset you will ever own, and there are a lot of moving parts to consider when selling that asset. As such a significant investment, it is important to take the right steps to maximize your home’s value and appeal to potential buyers.
Since selling a home is a time-consuming process, working with the expert mortgage brokers at A & N Mortgage Services, Inc. can substantially reduce the stress of going at it alone. Our professionals possess intimate knowledge of the local real estate market and can help you accelerate the process.
Before you pull the trigger and officially put your home on the market, take a look at the following tips to ensure that you get the most money back on your investment.
Get Pre-Qualified for a New Home Loan
It is important to take the first steps toward buying a new home before you list your current home for sale. Many sellers are preoccupied with finding a buyer for their home and don’t work simultaneously to find their new dream home. Failing to pre-qualify for a new home loan could mean you eventually have to settle on a house that is not the one you envisioned. Getting pre-qualified for a home loan by a mortgage company gives you peace of mind knowing that you have the ability to find your dream home.
Set the Asking Price
Setting the right asking price for your property is one of the most important steps when selling your home. Setting the asking price too low can result in you losing money on your investment, while setting it too high may scare away prospective buyers. Working with a professional appraiser or your real estate agent allows you to research the local housing competition to determine your home’s current value.
Shop Around for Other Houses
In the same way that your potential buyers are shopping around for the right deal, you should too. Research other homes for sale in your neighborhood and consult your mortgage brokers so you can see what they are going for. This helps you set the best asking price and can also open the door to better offers for your home. Do your homework so you don’t miss out on potential profits.
Market Your House
The more exposure your home gets, the better. Develop a marketing plan for your property that gets the information out to as many places as possible. This ensures you connect with the full range of potential buyers for your home. Consider advertising in local newspapers, magazines, on the internet, and with yard signs. Work closely with your real estate agent to make sure your house gets the exposure it deserves.
Create a High-Impact Showing
When your real estate agent shows your house to prospective buyers, it is a good idea to either leave your home or stay in one room. This helps the buyer envision what life would be like in the house and can also make your rooms appear larger with fewer people walking around. In addition, being present during this process tends to make a buyer nervous. If you are absent during the showing, buyers are more likely to freely discuss concerns they may have, and the real estate agent will be able to address them without the buyer feeling intimidated.
Clear Out the Clutter
Organize all of your closets, bedrooms, and communal spaces to make the home’s interior living space look bigger. It is important to remove clutter so potential buyers can envision their life in the home without the chaos of your stuff. Is there room for their sectional couch? Will the bunkbeds fit in the second bedroom? The less clutter they have to mentally work around, the easier it will be for them to see your home as their own.
Let There Be Light
Lighting is an important—and often overlooked—detail that helps enhance your house when it is being shown to buyers. It is a good idea to open the drapes so that natural light can pour in. Replace current light bulbs with higher wattage bulbs to improve lighting as well. If your house has a fireplace, consider lighting a fire to boost the ambiance of a warm, inviting home. Ultimately, rooms that are warmer and brighter are more comfortable and appealing.
Odors Kill the Buying Mood
Unpleasant odors are on the list of things buyers hate most. To successfully sell your home, it is vitally important to eliminate any odors before potential buyers visit. A light vanilla scent is preferred by most buyers, but it is central to remember to avoid overdoing it or mixing scents together. You never want to appear that you are trying to mask a smelly problem.
Paint Your House
Prior to showing your home off to potential buyers, it is a good idea to evaluate your interior and exterior walls. Painting your home to fix chipped areas and discoloration is an inexpensive and easy repair that appeals to buyers. Using a neutral color within the home makes the space seem cleaner and more versatile to the buyer. A fresh application of neutral paint can even make the rooms appear larger and more welcoming.
First Impressions Are Everything
Don’t neglect your home’s exterior when preparing for the showing. This area is your first chance to make a good impression on buyers. Give the exterior a clean, fresh coat of paint along with a well-manicured landscape to help entice buyers and encourage them to come inside.