Whenever it comes time to sell your home, you’re going to want to get as much for it as you can. Selling your home for more money means being able to do things like buy a better home, add more to your retirement fund, or invest that money in a new property. Whatever your intended use for that money, you don’t want to sell your home for the minimum. Luckily, there are a few simple strategies you can use that will help you get more for your home when it comes time to sell. Below, we’ll outline these strategies that should help you maximize your return.
Make Smart Upgrades
One of the biggest keys to getting more for your home is making smart upgrades before you sell. The goal is to improve your home as much as you can so that you can ask for more once you list it. However, you also don’t want to spend more on upgrades than you’ll get in increased value. For example, if you spend $10,000 upgrading your home, you don’t want this to result in only receiving $5,000 more for your home. This is why you need to be smart about your upgrades.
When upgrading your home, you’ll want to focus on areas that improve home values the most. Most commonly, these areas are your kitchen and bathrooms, followed by the bedrooms. Spend some time analyzing these rooms and see if there are some modern upgrades you can make. For example, you might need some newer appliances in your kitchen or a new floor in your bathroom. Plan these projects out, get estimates from contractors, then see which ones make the most financial sense.
Explore a Home Warranty
Another way that you can get more for your home is by getting a home warranty. A home warranty is a protection for your home that covers things typically uncovered by your home insurance. With a home warranty, you have protection if the major appliances in your home, such as the furnace, air conditioning, or refrigerator break down. According to Cinch Home Services (cinchhomeservices.com/faq-library/-/faq/home-warranty-ohio), “Home warranty plans can benefit new home buyers, home sellers, and current homeowners alike. Think of a home warranty plan as a service agreement that protects your home systems and major appliances, all while providing you peace of mind.”
Home warranties can increase how much you get for your home in two ways. First, it protects your major appliances, which ensures they’re in working condition when it comes time to sell. Second, you can include the home warranty with the home, giving any potential buyers some additional peace of mind. Explore home warranties today and see if they make sense for your situation.
Work with a Good Real Estate Agent
Next, it’s practically essential that you work with a good real estate agent if you want to get the most for your home. A good real estate agent helps you get more for your home in a number of ways. First, they can help you with staging your home. Staging your home is essentially making it look its best for when potential buyers come to look at it. There are a lot of little nuances that go into staging a home properly and a good real estate agent will know them all.
Second, real estate agents can help you take beautiful photos of your home. These days, most people browse for houses online before visiting them in person. You need to have professional-looking photos if you want to get as many people as possible interested in your home.
Lastly, your real estate agent will help you determine the right asking price. Based on other homes in the area, your agent can help you pick a price point that will attract enough attention without scaring too many people away. This is the best way to either earn the asking price or perhaps even start a bidding war for your home.
Sell at the Right Time
Lastly, to get the most value from your home, you need to sell it at the right time. Market conditions play a big role in determining the value of a home. Sometimes simply waiting a few months can impact the sale price by tens of thousands of dollars. To determine when it’s best to sell your home, you should read up on the current real estate trends. It’s also a good idea to see the trends in your specific area, whether home values are on the rise or declining.
Of course, it’s not always possible to wait for the right market conditions to sell your home. But, if you can adjust your timing slightly to better suit the market, you can significantly improve the return for your home.