House Selling Tips - Three Good Ones
By Steve Gillman - 2006
You can find hundreds of good house selling tips when the
time comes to put that sign in the yard. Some tips are more important
than others though. Below are three of the most important.
1. Price It Right. Your home isn't worth more because you
spend $10,000 making it the way you like it. A house is worth
what others will pay for it - period. Real estate agents often
have to explain to a nice couple that their $45,000 in kitchen
improvements only added $10,000 to the value of the house.
Price it too high, and you may make less money. There will
be costs that you pay while waiting to sell. People are suspicious
of homes that have sat unsold for a year, and less likely to
make an offer even if you do finally lower the price. Also, the
perfect buyer, who would have paid the most, might have looked
at the home when it was over-priced and walked away. If you want
to get the most money, price it right to begin with.
2. Know Your Market. Who are the potential buyers? Putting
a sign in the yard wont help much if you're selling a summer
home in the woods and all the buyers are in the city. Identify
who the likely buyers are, then you or your agent can decide
which ways to market the property.
Is yours a quiet neighborhood that is attracting retirees?
You might advertise the fact that your house has one level. "No
stairs!" could be an important selling point for older buyers.
If your neighborhood is attracting young couples, however, it
would be a waste of words. Learn your market before you try to
sell.
3. Make Cost-Effective Preparations. Always clean the house
and mow the lawn, but the other things you do to get ready for
the sale should be cost effective. First do those things that
will give you a three-to-one return on your money.
Of course it's not important - or possible - to be that precise.
The point is to do things that raise the value more than they
cost. $1,000 to repave the driveway may add $3,000 to the value
of the house, but a $50,000 pool might add only $25,000 in value.
Start with low-cost first-impression things, like replacing that
dented mailbox, then work on bigger things that get "the
most bang for the buck."
With time and motivation, you can find endless little house
selling tips. In fact, you can find many more right here on this
site. Not be a bad idea, but why not start with the most important
house selling tips first?
Another page to check out:
How to Sell a House -
The e-book is now free and right here on the pages of this site.
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