Guide to selling your first house
Selling your house could be a very daunting task and if you don’t do it properly, you’ll get lost in the fine details and end up making a huge loss instead of a huge profit.
The best way to make a profit in selling your house is to fully maximise the current trends of the local housing market. From high seasons, and the area of your house, and even the design – these factors will influence the value of your home.
Here are 5 tips that every first-timer sellers should know
1. Fix the house
It may sound like a daunting task for some homes to fix anything before you list your house, but this is one factor that adds value to your property.
Repair everything that is damaged, particularly the obvious eye catching ones such as rotting wood on the outside, peeling paint, stains on the floors and carpets, running toilets and dripping faucets, broken lights, cracked windows, electrical switches to nowhere, pests and leaks in the foundation.
Eventually, any problems with the home will be noticed by the buyer or during the inspection process which will most likely cost you one way or another. It would be a good idea to have an inspection before you list your property if you are not handy or are ignorant of the inspection process, so there are no major or expensive surprises. You don’t want to risk a contract falling apart over problems that could have been resolved from the very beginning.
2. Remove Clutter
Free up the space of your home and make it look bigger! Nobody wants to move into a house that seems to be disorganised, dirty or small. If you want to sell your house quickly, clear your room so that the home is easily seen and highlighted by the flow and square footage. Often, when individuals want to imagine their new life at home, not yours, delete private objects such as photographs or other highly valued objects.
Removing clutter from clothes, furniture and decorations will also make your life much easier when you have to move!
3. Choose the right time to sell
There are a seasons to of selling and buying houses. Towards the end of the year, there are many newly wed couples looking for their first home. Typically in the first quarter of the year are where many would start to move in or make renovations for their house. The seasons vary from time to time.
It can be helpful to sell your home for the most money, at a time when you have enough home equity. Home equity is the current market value of your home, minus what you owe. You’re looking for a positive number. Any gain comes from typically, the increase of market value.
Having enough equity in your home to pay off your current mortgage, the sale costs, and the moving costs. Otherwise, you would need to pay all of these expenses out of your own pocket
4. Do a property health check
Similarly to how you go to the doctor every now and then for a general health check-up, it is important to check in on the condition of your investment property. As the years of wear and tear add up, it can be important to review your asset’s performance and condition from time to time. By keeping your property healthy and maintained, the chances that you receive a constantly improving return on investment can be better.
A property health check is the best way to optimize the potential of your property. To preserve your property value, property concerns can be detected and resolved. Knowing this is key to choosing the right time to sell your house for maximum profit and value.
5. Always work with your property agent
You should be on the same page as your property agent at all times. That’s because a serious buyer would talk to both of you to discover the true condition of your house. If you and your agent happen to send contradictory stories to the customer, as a result, you can guarantee you will lose the deal.
So make sure that any question a potential buyer can ask is coordinated with your property agent. Property agents will help to make your process in selling your house a smooth one as they know the fine details and procedures to take note when selling.