7 KEY STEPS TO SELLING YOUR HOME
STEP 1: UNDERSTAND THE FACTORS INFLUENCING THE SALE
It is often more emotional to sell a home than to buy a home, and the reason for selling your home may be a determining factor in the urgency of the sale. The urgency may also have an effect on the price of the property. It is important to understand the following factors that can influence the sale of your home …
- Reasons for selling
- Condition of property
STEP 2: KNOW THE COST OF SELLING
Calculate the expenses that may be incurred while selling your home. This knowledge is absolutely necessary because it helps you to determine a good price for the house, as well as the potential profit that you can realize. The cost of selling your home may include the commission to be paid to the agent, taxes, advertising costs and specific reports, such as a property inspection.
STEP 3: SET THE RIGHT PRICE
The most important factor when putting your home on the market is setting the right price. The price at which your property is marketed can make or break the deal.
Over-pricing of the property may result in
- A smaller buyers’ pool
- A prolonged stay on the market that will result in lower offers being submitted
Under-pricing of the property may result in
- You losing money on your investment
- A buyer offering at an even lower amount, due to a negative perception of the property or area
STEP 4: KNOW THE EFFECT OF YOUR HOME’S LOCATION
Although you cannot do anything about the location of your property, it is a very important part in evaluating the marketability of your home. So, it is important to take the following into consideration:
- Is your property priced knowing what other homes in your area have sold for?
- What type of neighborhood is your property located in? Well-established, up-and-coming, transitional?
- Is your property located in an urban or rural area?
STEP 5: MAXIMIZE YOUR HOME’S CURB APPEAL
The condition of your property is always a factor in how quickly your home sells. It’s a fact: acquiring the highest market value and elevating your home above the others in the same price range often comes down to first impressions. Here are some inexpensive ways to maximize your home’s curb appeal …
- Keep the yard clutter to a minimum.
- Apply fresh paint to any wooden fences and your front door.
- Clean windows inside and out.
- Wash or paint your home’s exterior.
- Ensure gutters and other exterior features are firmly attached.
STEP 6: STAGE YOUR HOME TO LOOK ITS BEST
Did you know well-placed furniture can open up rooms and make them seem larger than they are? Or, that opening drapes and blinds and turning on lights make a room seem bright and cheery? It’s true, which is why staging your home to look its best is an important factor in the selling process. Here are some inexpensive ways to highlight your home’s best features …
- Clean or paint walls and ceilings
- Clean all flooring and fixtures – lights, fans
- Repair all plumbing leaks
- Remove excessive wall hangings, furniture and extra personal goods
- Turn on all lights and open the drapes during the daytime
- Play quiet background music and infuse your home with a comforting scent
- Vacate the property when it is being show to prospective buyers
STEP 7: USE PROXIMITY TO ADD VALUE TO YOUR HOME
Proximity to a community’s infrastructure is a major issue. You cannot do anything about your home’s location but it can play an important role in establishing your property’s sale price. Here are a few important infrastructure features that should be promoted to add value to your home
- Public transportation
- Main roads
- Shopping centers
- Schools and other educational institutions
- Outdoor areas – public pools, parks, playgrounds
What’s your home Worth?
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