When you’re ready to list your home on the market, you likely want to sell it for as much as possible to increase your profit. Although you may not be able to change certain factors about the property, there are other ways to increase its value and attract the right buyer. Here are a few useful tips to help you sell your home for more.
Do Renovations Yourself When Possible
If you live in an older home that is outdated or in poor condition, it may be time for a renovation to boost the value of the property. Although renovations are an investment, they can be more affordable if you do the work yourself. Rules of Renovation recommends, “make a timeline of how long the renovation could take and whether or not it will be worth your time. Ask yourself how soon you’ll need to make a profit to ensure that it’s worth the effort.” Consider which projects will be worth the investment and which ones should be avoided to protect your time and your pocketbook.
Look for Bargains
Keep in mind that most of the profit that you make on a property is earned when you buy it. Look for bargains that are available and work with a real estate agent who can help you to find deals on properties that may not be advertised. BiggerPockets suggests, “driving for dollars is one the best and cheapest methods of finding cheap properties. Driving for dollars is the practice of getting in your car and driving up and down the streets of neighborhoods you want to invest in, looking for potential deals. Then, you simply try to buy those properties! Look for properties that are obviously uncared for like 18” tall grass, old mail in the mailbox, or things like tarps over parts of the roof.” By getting a better deal, you can keep more money in your pocket. Take your time and avoid getting too emotional about the process to ensure that you can find a great deal.
Use a Real Estate Agent When You Sell
Unless you’ve been trained or have taken courses to sell homes, it can be difficult to make as much money off of the house without the help of a professional. Real estate agents can get you more for a property compared to FSBO because they’ll be able to attract more attention and show off the value and best features of the house. UpNest explains that, “using a Realtor will most likely help you get the best price for your home possible. If homes in your area are selling at or above asking price this is good news for you. You can leverage the Realtor to make sure that all negotiations on pricing are done with your best interest in mind. If you don’t want to use the Realtor and take your chances on the open market that’s fine too, but the majority of homes sold by owner average only 87% of the sale price compared to being listed with a Realtor.” For example, when comparing home sales nationwide, the median selling price of a house without an agent is $190,000 and the average selling price of a property with an agent is $250,000.
By following a few tips on how to sell your home for more, you can be strategic when it comes to earning a higher profit and finding the right buyer. You’ll also prevent the house from sitting on the market for too long by making it appeal to potential buyers.
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