Selling Your House? 2 Things You Need To Do First
When you decide to move, you might be tempted to call your real estate agent and get the ball rolling. Although your proactivity might seem like a positive thing, putting your house on the market before you are really ready might come back to haunt you later. Here are two things you need to do before you list your home, and why you won't regret it down the road:
1: Have a Pre-Sale Home Inspection
If you are like most people, you might have a home inspector ready to go for when you find your new place through a company like Sell 4 Free Real Estate Welsh Realty Corp. However, paying for a pre-sale home inspection of your current home might be a worthy investment too. After all, do you really want to find out about surprise problems during the due diligence period?
Home inspections typically cost between $200 and $500, but they will give you the chance to learn about existing problems before you put your home on the market. Your inspector will check for issues with your homes structure, electrical system, plumbing network, and even appliances. After making notes about the problems, your inspector will compile a comprehensive report detailing recommendations. By using this information, you can resolve issues before a buyer could use the information to negotiate a lower sales price.
On the other hand, if you decide to wait, your fate is in the hands of whomever potential buyers hire to inspect your property. If their inspector finds big problems, you might be asked to repair the issue on the buyer's terms. To make matters worse, some buyers won't even bother with a property that needs a little work. However, by learning about issues early, you can make a plan for repairing the problem on your own terms—while looking more prepared to buyers.
2: Improve the Right Areas
After staring at your house for a few years, you might feel like you have a pretty good idea of which rooms need to be updated to improve your home's value. Unfortunately, if you guess wrong, you might just be throwing money down the drain. Here are a few impactful areas you should think about addressing first, and why they matter to buyers:
- Front Door: In addition to being a main security feature of your home, your front door is also the first thing any buyer will see when they walk up to your place. For these reasons, replacing your old door with a steel version has an excellent return on investment. In fact, people who replace their front door have an average return of 101.8%. That means that if you spend $1,500 on a new front door, it might increase your home's value by $1,527.
- Kitchen: Because people tend to spend a lot of time in their kitchens, they are one of the areas that matter the most to buyers. In fact, a minor remodel has an ROI of about 72.8%, and a major overhaul has an ROI of about 68.7%. However, if you do decide to update your kitchen, stick with neutral colors and high-end materials that would appeal to the majority of buyers.
- Exterior: Another investment with a high return is new siding. In fact, one study showed that people who replace siding with a brand new version recoup about 72.9% of their costs. In addition to making your home look a lot cleaner, new siding will reassure buyers that the home is protected from the elements.
Although it might seem counter-intuitive to replace your front door before those ugly bathroom sink faucets, you need to think of what buyers would look at first. Some new homeowners prefer to update small things on their own to put a personal spin on their new property.
Don't worry about spending a little extra time and money to get your house ready to sell. By making the effort, you might be able to secure a sale sooner and get top dollar for your property.