Selling a house can be an easy task. It’s the one-size-fits-all approach that could mislead you from doing what’s right for your property. Your property is unique and though you want to gauge your market, your area and your neighborhood, it isn’t always wise to do exactly what every other seller on your street is doing!
Here are some questions that you need to answer to check if you’re doing the right things for your house:
1. Overestimating the Value
Know what home buyers are looking for. Do your own research. Often sellers look at other houses on their street, and set the home price on structural similarities. A three-bedroom-two-bath home with a hot tub Jacuzzi in the master bathroom and a fully upgraded kitchen is bound to sell for a higher price than a regular three-bedroom-two-bath.
If you decide to sell your house as is, you want to take some of common factors into consideration. Some critical features that buyers have been looking for include: location, neighborhood and community, structural design and size, number of bedrooms/bathrooms, special amenities, availability of schools, privacy and other facilities. Some things are not in your control, but there are areas that can we worked upon.
2. Underestimating the Competition
Your property may be one-of-a-kind, but if a buyer has come to see your house, chances are that they will also check out the other available houses on your street. It’s not a bad idea to go out and investigate all the comparable prices of houses in your area and neighborhood. It’s time well-invested.
Better still; hire an appraiser who would have done your homework for you. They will be able to point out problem areas or asset depreciators that have come in the way of a good sale. Sometimes, just fixing or upgrading a few things in your house could raise its value by a huge amount.
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This series will be continued. For more insight on what mistakes to avoid while selling your house, continue to read our blogs.
If you have any tips or suggestions that you’d like to share, please feel free to comment on this blog post.