If you’ve ever wondered what the best strategies are to sell a home, here’s some tips and strategies, some of which may surprise you!
Sell When You Have Equity
Equity, which is the price of the house minus the remaining debt from any loans, is the amount of money you’ll walk away from the sale with. The more equity, the better, as it can help with the real estate and legal costs involved in selling a home, not to mention helping you pay for your next home.
Sell When Interest Rates Are Low
For instance, now. Interest rates on mortgages are as low as they’ve ever been for quite some time. When interest rates are low, it might be time to consider that move you’ve been thinking about.
Sell When You Know People Are Buying
This is where a realtor comes in handy because you can find out if inventory is low and there is buyer demand. This is called Absorption Rate and it is used to determine the level of buyer demand.
Sell When You Want Less to Take Care Of
If you find yourself with too many rooms to spare, selling a house that’s too big and buying a smaller one is a sensible decision. Or, consider buying a property with a monthly Association Fee that will take care of all the exterior maintenance for you.
Sell When Your House Is Too Small for You
Perhaps there’s a new baby on the way, or some of your extended family is moving in with you. Now would be a time to sell if you need a few more rooms to fit everyone.
Sell When the Work on the House Is Done
If you have home-improvement projects taking place, make sure they’re finished and the tools put away before listing the house. A house in progress looks like a house unready, and a house that looks like it needs work – even if it’s just something cosmetic – is less likely to sell.
Sell When You’re Not in a Rush
Selling when you’re not in a rush to sell, is a good position to be in. If you’re in a rush, you may well get lower offers if buyers think you’re in a hurry to skedaddle. If you are in a hurry to move, try to be patient and wait for the best offer possible. You don’t want to miss out on equity because you got caught up in a rushed or lowball sale.
For more information on planning the right time to sell your home, please feel free to contact me today.