If you decide to sell your house, you’ll want to do everything you can to maximize your profits. However, to get as much as you can out of your house, you’ll have to do a little more on top of simply listing it and hoping you find a buyer willing to give you what you’re asking.
With that in mind, the following are four tips on selling your home for more money:
1. Price your house correctly
The most important factor in getting top dollar for your home is pricing it correctly from the start. One of the biggest mistakes sellers make is pricing their homes too high, thinking they’ll be able to come down later if nobody bites. However, overpricing your house can scare potential buyers away. And the longer your home sits on the market, the more difficult it will become to sell.
2. Make necessary repairs and updates
If any major repairs or updates need to be made to your home, it’s best to do them before putting your house on the market. Not only will this make your home more appealing to potential buyers, but it will also increase its value. If you’re unsure what repairs or updates need to be made, a home inspector can give you a detailed report.
3. ‘Time’ the real estate market
If you put your house up for sale during a buyer’s market, it will likely take longer to sell because there will be fewer buyers, and you’ll probably have to lower your asking price. However, if you list during a seller’s market, you’ll likely have more buyers interested in your home and you might get away with a higher asking price. Competition may even result in a bidding war. Pay attention to your area’s market conditions to help determine the best time to list your home.
4. List your property at the right time
Besides timing the market, try to list your market during the peak season, either in the spring or summer. This is when more buyers are looking for homes than at any other time of year, so you’ll have a better chance of selling quickly and for top dollar.
These are four tips you should keep in mind to help ensure you get the most money possible from selling your home. Contact us at Randy Lindsay today for more tips on selling your home.
Selling your home is challenging! And if your home is on the smaller side, homebuyers might think twice about whether it will address all their needs. Even if it does, if your home feels small and cramped, it won’t attract a lot of buyers.
There are ways you can make your small home feel bigger and make it more attractive to potential buyers. Try these tips on how to make a small house feel bigger:
1. Use light colors when painting your walls
Light colors make a room feel more open and airier, which can give the illusion of more space. In contrast, dark colors often make a space feel smaller and more cramped than it is. If you don’t want to paint the entire home, paint an accent wall in a light color to make a statement and open up the space.
2. Let in natural light
Natural light is one of the best ways to make a small room feel bigger. If your home doesn’t have a lot of windows, consider installing skylights or solar tubes to brighten things. You can also use mirrors to reflect light and make the space feel more open.
3. Keep the clutter to a minimum
One of the quickest ways to make a small space feel cramped is to have too much stuff. Go through your belongings and get rid of anything that you don’t need or use. This will not only create space, but it will also make your home feel less cluttered.
4. Use multipurpose furniture
Furniture that serves more than one purpose is ideal for small homes. For example, ottomans with storage can be used as a coffee table or extra seating, while a Murphy bed can be folded up into the wall when not in use. Look for furniture that is both functional and stylish to make the most of your space.
5. Hang curtains high
Hanging curtains closer to the ceiling will make your windows look taller and your ceilings appear higher. This simple trick can give the illusion of more space and make your small home feel bigger.
Making your small home feel bigger doesn’t have to be difficult. By using these tips, you can create the illusion of more space. If you’re selling your home, making your small house feel bigger can attract more interested buyers. For advice on selling a house, contact us at Randy Lindsay today.
If you’ve recently bought a new house, then you can sell it anytime you want. It’s your house, after all! However, that doesn’t mean you should. Although extenuating circumstances might force you to sell your house soon after buying it, there are several reasons why you should consider waiting a few years if possible.
Why Should I Wait Before I Sell My House?
Real estate tends to be a very stable investment and will typically appreciate over the long term. If you sell quickly after you’ve bought (say, within the year), then odds are you won’t make much of a profit; if any. In fact, it’s more likely you’ll lose money when you take into account all of the costs associated with buying and selling a house as well as moving to and from a new location.
For instance, in addition to the down payment and mortgage payments you’ve already made, you’ve also spent money on moving costs, property taxes, mortgage insurance, and more.
Secondly, even if your house does jump in value significantly, if you sell your house within a year of having bought it, your capital gains will be taxed like regular income. You need to wait at least a year for your capital gains to be taxed as long-term gains and not short-term gains (which will save you money).
How Long Should I Wait Before I Sell My House?
At the very least, you should wait a year to avoid a higher capital gains tax rate. However, considering all the costs associated with buying a house, most homeowners won’t break even when they sell unless they wait at least two years.
For more advice on buying and selling homes, be sure to contact us at Randy Lindsay today.
Believe it or not, selling a home can cost you money. It’s not as simple as just putting a for-sale sign in your yard. If you want to sell your home as quickly as possible, hire a real estate agent who can help you navigate the home-selling market and find motivated buyers.
You may need to invest some money into repairs and upgrades where needed. But a Realtor and home improvements aren’t the only expenses associated with selling a house. The following are three hidden home selling costs you may not have known about:
- Appraisal: You can use comps within your neighborhood to help determine the value of the house, but you’ll get a more accurate assessment of what to ask your home is appraised by a professional. Independent appraisals cost between $350 and $500.
- Survey: If you own an older home in an older neighborhood (and/or your home is in a rural area surrounded by natural elements), you’ll need to schedule a survey. A land surveyor will determine the property lines so you know exactly how large your land is and exactly what you’re selling. A land survey can cost from $250 to $1,000.
- Vacant house insurance: If you’re not living in the house, you’ll want to purchase vacant house insurance. This protects you financially if your house is vandalized. Expect to pay upwards of a few hundred a month.
There are a lot of different costs associated with selling a house. Although you may be aware of most of them, there are often hidden home selling costs.
For more home selling advice, contact us at Randy Lindsay today.
Selling a house is rarely an easy process. That’s why the option of selling your house to a family member can be particularly appealing. Not only will you sell it quickly, but you’re selling to someone you care for who will appreciate your home.
However, there are risks involved. If you don’t do things the right way, you could end up damaging your relationship. Be sure to keep the following three tips in mind when selling a house to a family member:
- Establish the logistics: Sit down with your family member and determine the logistics of the sale, such as what professionals will help (including agents and lawyers), what the timetable of the sale should be, and more. Doing so will help avoid confusion and miscommunication.
- Get an appraisal: Whether your family member is planning to take out a mortgage or not, be sure to have a professional appraisal of your home before you strike any agreements. The last thing you want is to learn you’ve priced the home too high or too low. If the value of the house doesn’t match the agreed-upon price, there could be problems between you and your family member.
- Work with a real estate agent: You might be tempted to work without an agent since you’ll be dealing with someone you know. However, it’s a good idea to have an agent as an intermediary when it comes to the home buying and selling process. An agent can help with negotiations so you don’t strain your relationship.
Selling your house to a family member can be beneficial to all involved. Be sure to use these tips to avoid potentially straining your relationship.
For more home selling advice, contact us at Randy Lindsay today.
Finally closing on a new home can be an exhilarating experience, especially since the stressful home buying process is finally over. However, you’re not out of the woods yet. You still must move.
Moving can be a challenge, which is why you’ll want to find a reputable mover you can trust. Here are five questions you should ask when going through the process of choosing movers:
- How much will it cost?
Movers generally charge an hourly rate for short-distance moves or a rate based on weight for long-distance moves. Make sure they are willing to provide you with an estimate in writing.
- Are there additional fees?
Some movers charge additional fees that they leave out of the estimate. For example, they may charge extra to move heavyweight items (such as pianos or safes) or to move anything up or down stairs. They should be transparent about such fees.
- How much experience do they have?
Look for a mover that’s been around a while. Movers with a lot of experience are likely reputable since dishonest movers are usually discovered pretty quickly.
- Do they offer insurance?
A good mover will provide basic insurance and will offer additional insurance options so you can protect your belongings.
- Can they provide referrals?
Be wary of movers that can’t offer referrals. It means they can’t name a single customer that was happy with their services.
Don’t quickly hire the first mover you find. Keep in mind not all movers are equal. When choosing movers, be sure to ask these questions.
Contact us at Randy Lindsay for additional advice for first-time homebuyers, especially if you need help finding your dream home.