As anyone who’s worked in real estate can attest, the home-selling process is not always an expedient one.
With real estate currently being a buyer’s market, homebuyers have become more selective than ever, and if a property doesn’t meet their criteria, many of them will walk away without a second thought. Furthermore, depending on how popular a state, city, township or neighborhood is, a home sale can take months – at minimum.
Needless to say, this situation is hardly ideal for sellers looking to relocate in a hurry. So, if you’re hoping to find a buyer for your home in a timely manner, you’d do well to put the following tips to good use.
Fix Outstanding Cosmetic Issues
When it comes to home-selling, first impressions are vitally important.
Since many buyers decide whether they want to look at a home’s interior based on the appearance of its exterior, sellers would be wise to remedy any outstanding cosmetic issues before placing their homes up for sale. For starters, if your home’s paint-job has seen better days, having the exterior repainted is likely to be a worthwhile investment.
Secondly, you’ll need to keep your gutters clean. If your home’s gutters have become bent, worn-down or outright broken, take this opportunity to replace them. When addressing cosmetic issues, give your driveway and walkway a good once-over. Should you come across any stains or cracks, start cleaning and/or patching. If either area has accumulated a significant number of cracks, it may be time to repave. Additionally, any problems with your roof should be addressed in advance of the house is shown.
Cosmetic issues don’t just apply to the house itself. For example, if your front yard is in a state of disarray, take care to get things in order before showing your home to potential buyers.
This means keeping your lawn mowed, trimming any shrubbery and cleaning up any kids’ toys after every outdoor play session. Furthermore, if your yard features a garden, make sure that it’s well tended-to throughout the home-selling process. Keep in mind that colorful flowers can be a great vehicle for getting eyeballs on your home.
Replace Outdated Appliances
Outdated appliances are a huge turn-off for some homebuyers and the prospect of having to replace old appliances factors heavily into their decision making. As such, if any of your home’s major appliances are on their last legs, it may be a good idea to replace them in advance of selling your home.
This will help imbue the property with a modern, cutting-edge feel and assuage the anxieties of buyers who don’t want to spend money on new appliances. Additionally, if upgrading certain appliances proves financially strenuous, consider altering your asking price to include the money you spent.
Repair Outstanding Electrical and Plumbing Issues
You’d be hard-pressed to find a homebuyer willing to invest in a property with outstanding electrical and plumbing issues. Even if you agree to deduct the cost of essential repairs from your asking price, most buyers are likely to walk away. Furthermore, outside of house flippers, placing a home with said issues on the market is unlikely to attract many prospective buyers.
With this in mind, make a point of repairing any electrical or plumbing issues before putting the property up for sale. Depending on the scope of the problem(s), this is liable to prove expensive. In order to pay for the repairs in a timely manner, you may need to borrow from a retirement account or Roth IRA. To get a solid idea of how much your IRA stands to accumulate, use a Roth IRA calculator.
If you’ve ever sold a home, you’re likely familiar with how slow and drawn-out the process can be. Depending on where you live, the state of the market and the general condition of your property, the selling process can play out over a period of months – if not years.
However, if you need to relocate in an expedient manner for personal reasons or a career opportunity, you may not have the luxury of sitting on a property that won’t sell. Sellers looking to increase their odds of finding buyers in a timely manner may be well-served by the previously discussed pointers.