If you’re thinking about selling your existing home, believe you must wondering how to sell your home at best possible price. Selling your current home for the best possible price can earn yourself a larger down payment on your next home as well as improve your overall financial situation.
By doing this, you can either get help of a property professional or you can do it your own. The main difference between these 2 options is time-consuming; get help of a property professional can save you a lot of time as they have certain experiences of home selling; If you prefer do it you own, you may have to expect that your home will be sold a slightly slower, and add not much value in your house. Regardless of which option you choose, you should double your due diligence before put your existing home into market. Here are the tips for you;
🅐 Compare the price
Before decide the asking price of your existing home, you need to compare the prices of the similar properties in the area. You can get the home pricing details by visiting the property site, such as Propertyguru, iproperty and etc. In another way, you can engage with a property agents as as they will give you the fair price for your home by compare the similar houses in the area (save more time). The houses comparison will base on square footage, lot size, age, and amenities, and will have the same number of bathrooms and bedrooms.
The following things are a property agent will look for when determining the optimal price for your home, and you should learn how they do it.
① Recent sales of homes in the area
Do look for the homes that are similar in size, amenities, and the information (recent housing market) provided from the area community. Due to the housing market change frequently, so you’ll need to keep updates the recent sales to gain the important information about the highest prices the current market will bear. And to determine whether your home is worth the highest price that the market is willing to pay.
② Recent sales of homes in the area that haven’t sold
You can get this statistics from property agents. You’ll need to figure out why did these similar homes not being sold. Is the pricing set too high? or there are other factors involved affect its sales? Figure out the problems and you do the adjustment on your existing homes to meet the market needs.
③ Get the most latest homes sales information
Homes sales prices from the past 3 months are more informative than homes sales from last years. You may heard your neighbors or your friends got a great price on their homes last year, but it doesn’t mean that you can get the great price in this year, you’ll need to consider the current housing market movement.
④ Better to get the list price of sold homes
Anyone can list their home for any price, and you can see some of the price are at extremely low and high, and the trustability is questionable. To get the more valuable information,you must compare the current sales price and price of sold homes. And figure out the gap between the asking price and final deal price, and thus you can understand what things can make the home price increase.
🅑 Focus on Marketing
Nowadays, most homebuyers hunting a home through internet first, and only decide to go over and take an actual look of a property and environment or schedule a showing. Therefore, online marketing is very important and you should consider the following guidelines;
① Stage your home properly
Homes that are properly staged sell for a higher price than those that are not. Homeowners should thoroughly clean the home, haul out all clutter, and fix any major aesthetic issues before open for showing.
② Photographs matter
Beautiful photographs always appealing to the potential homebuyers, so make your home picture are in HD, clean and attractive. Make sure all the rooms have sufficient light while photo shooting, clear all clutter and remove personal stuff.
③ Show your trustability
When you put your home onto online listing, you should show your home’s best features and of course, need to be truthful. For instance, if you’re using the third bedroom as storage, it’s fine to list it as a bedroom and/ or store room. Homebuyers who are seeking feature will be disappointed when they see the actual look of your home. Use your online marketing to draw in interested homebuyers who want the kind of home your are selling.
Setting a right price for your home is the most important steps a seller takes. If you’re not sure if you can handle this job or simply not extra time to do these research, then you’re better go for local property agent to do these job for you, of course, the agent fee is not cheap. Therefore, before put your home up for sale – first, you need to decide whether do it your own or engage with a property agent; Second, double your due diligence; Third, set a right price for your home; and finally, your home will be sold successfully.