Selling your home can be an emotional, stressful process. When should you sell? What should you list your home for? Should you sell? Here are the answers to four common seller questions.
When is The Best Time to Sell?
When looking to sell your home, assessing market trends can help you determine the best time to sell. For example, the best time to sell a house in Denver is early May. Sellers who list their houses between May 1 and May 15 make on average 1.1 percent or $4,300 more on a sale and homes sell six days faster than typical, according to the Denver Post.
That said, the timing may differ for you. If you’re moving because your family is growing or you need to be closer to a new job, then you may need to sell when it is most convenient for you.
How Do I Determine My List Price?
First, ask your realtor for a comparative market analysis. The analysis will assess recent sales from your area as well as home details, days on the market and the final sale price. Then, imagine you’re a buyer. What would you pay for your home? Finally, tap your realtor’s expertise. They know what buyers are looking for and what is happening in the market and can help guide you.
Your price may also depend on your goals. If you’re looking to sell quickly vs. get the highest price, you will want to consider this when determining your list price.
Should I Make Improvements?
The problem with making improvements is that what you like might not reflect what your buyers like. So, beyond repairs for items an inspector may catch or those that are a good bang for your buck, be wary of making improvements under the assumption that it will lead to a higher sale price.
That said, adding a bedroom or bathroom can certainly increase your home’s value. Before entering into a complex remodel or addition, though, get quotes to make sure the cost doesn’t outweigh the increase in value. In addition, consider the headaches of managing home construction, which is generally never as easy as we think.
How Should I Prepare My Home?
If buyers are comparing your home to another, it never hurts to give yourself a leg up. Start by depersonalizing your house. While your kids’ paintings on the fridge and family photo albums on the coffee table make your home homey, they’ll be a turnoff to buyers who want to envision the house as a clean slate. Same goes for clutter. If needed, rent a storage unit for your extra stuff. Finally, investing in a professional clean will ensure every surface is sparkling.