When selling your home, most people aim to make as much profit as possible. Regardless of why you are moving or the timeline you are working with, getting a maximum return on your house sale is the priority.
Did you know there are ways to increase the value of your home when getting ready to sell? Using these effective strategies will reap the highest reward for the biggest investment of your life. Implement these strategies and present your home in its best light. That way, you will have more interest and drive the price up as high as possible.
Let's learn how you can sell a home for more money.
Make Strategic, Cost-Effective Repairs and Upgrades
Let's imagine I'm a homeowner looking to sell my house for cash. To get the most money out of my house sale, I must make it attractive to the most buyers. This means getting your house in peak condition.
Although a new kitchen and upgraded fixtures will help, they are costly, and you may not get a bump in the price to cover the costs. Focusing on the right upgrades and repairs is much better for your sale. Start with any major issues in:
You don't want to sell an unsafe home, and if someone gets an inspection, they will find these and either not make an offer or lowball you.
Next, make strategic upgrades that will give you the best ROI. These include:
- Finishing a basement
- Converting a porch into a sunroom
- Creating a home office out of a spare bedroom
- Adding a deck
- Landscape of the front and back
- A fresh coat of paint
- Adding a fire pit
- Changing handles and knobs in the kitchen
This is how to dramatically change your home's look and feel so you can demand a higher price.
Get Professional Photos
They say a photo is worth a thousand words, but the right, high-quality pictures of your home can add thousands of dollars to your sale.
Most people search for properties online, and you need eye-catching photos highlighting your home's positives. Whether selling with a realtor or yourself, stunning pictures will get you a higher price. You will attract more buyers to your place and qualify those looking for your features, and the right photos get people emotionally involved before they step foot in your residence.
Stage Your Home
Once you have attracted buyers, they will want to visit your home and check it out in person. To get the most money for your home, you need to sell the experience, and that is by having it staged right.
We all love to live comfortably, and while it works for your private day-to-day, that is not what's going to excite buyers. The house should be set up to demonstrate all that is on offer.
This includes cleaning. A clean home sells for more, so make it sparkle. In addition, you should make sure the home is free of unnecessary clutter. Also, depersonalize the home, meaning you should remove personal items that may not appeal to potential buyers. Finally, define each room. Demonstrate to buyers what they can use each room for.
Ensure everything looks fresh and the furniture in each room fits the space. Fresh flowers and pleasant aromatics also help create an appealing showing that will encourage buyers to open their wallets.
Read more: Costs of Selling a Home
Set the Right Price
Deciding what to sell your house for is no easy task. A real estate agent has the experience and know-how to give you a fairly accurate dollar amount, but so much is dictated by the current market, inventory, and your timeline to sell.
If you price your home too low, you may leave money on the table. This could attract more interested buyers and start a bidding war in a seller's market. Pricing a home is too high, and you turn people away. And if it sits on the market too long, buyers may become skeptics and be leery of making a strong offer.
Besides having a few realtors give you a price estimate, you can also use online home value tools to get you in the right ballpark. Ultimately, if your home looks amazing and there is demand in your area, you can set a price at the top of the market and get some serious interest.
Take Emotions Out of the Equation
This has been your home, and you have built an emotional attachment to it. You must use your head, not your heart, for the best price.
This is no longer your residence but a product for sale that should be a simple transaction. Try not to make it any more than that, and don't take offence if potential buyers don't like things or ask for concessions. You may need to give in to certain requests that help seal the deal because if you have a buyer on the hook for a good price, you don't want to lose them because of something like including curtains, a washer and dryer or a fast closing time.