With the recent news that mortgage rates are dropping even lower to new historic lows, it’s clear that interest rates will stay low for potential homebuyers well into 2021. This means that the real estate market will stay incredibly buyer-friendly, thanks to the fact that the drop in percentage points can potentially save homeowners tens of thousands of dollars over the lifetime of their mortgage. By that same token, sellers will also gain an upper hand, since demand is likely to stay at record highs for the foreseeable future. With the high demand for single-family homes, prices should also remain high, making 2021 a seller’s market as much as a buyer’s market.
That being said, just because demand is high doesn’t mean that you can phone in the sale of your home. If you really want to get top-dollar offers from great buyers who will actually qualify for a mortgage and close on your home, you need to put in the effort to present your house in the best manner possible. Just as you can find a checklist for first-home buyers online, it’s important to read up on various checklists for home sellers, too. Read on for a few tips and tricks to consider as you ready your property for listing in 2021 and if you want to make the most from your sale.
Update the parts of your home that will be expensive for new homeowners to tackle.
One thing that many first-home buyers will read about when reading up on what they should expect when purchasing a house is the importance of getting the home inspected. A home inspection can reveal all sorts of costly issues with a property, from water damage in the basement to electrical issues or an unstable foundation.
All of these issues could affect your bottom line if you’re not willing to fix them before you sell your house. However, there’s another drawback to those sorts of problems popping up in a home inspection, too. They can hurt your credibility. While there are certainly going to be problems you didn’t expect or anticipate during a home inspection, too many issues will beg the question of just how well you’ve been maintaining your property while living there.
A simple way to fix this issue is to keep your property well taken care of even before you know you’ll want to put it on the market. That being said, if you’ve been holding out on a few upgrades or repairs, it’s best to fix all of the problems you know about prior to listing your home.
Finding one of the many local Springfield VA roofing companies (or whatever area of the country you’re in) to work on your roof can go a long way in instilling buyer confidence prior to their making an offer. After all, replacing a roof can cost thousands of dollars, so if you can give potential buyers the peace of mind that this costly task has already been taken care of ahead of time, you’re much more likely to get offers on your home. Especially if you pick a reputable company with years of experience in the sector, replacing or fixing your roof is a great selling point to add to your listing description.
Boost your curb appeal with landscaping.
With so many homes on the market, buyers are likely to be a little bit pickier than they may normally be. After all, if a buyer has looked at three or four homes that fit their needs, they’re much more willing to compromise on certain features. That being said, with so many homes being listed right now, buyers are bound to believe they deserve their pick of the litter, and that could start and end at curb appeal.
Even if the interior of your house has all the amenities that a potential buyer is looking for, if you have a less than pleasing exterior or yard, this might give buyers a pause. After all, especially for first-time homebuyers, people want to come up to a place that feels welcoming and has some level of charm, which is why the exterior of your house can’t be neglected as you prepare it for sale.
Purchasing some outdoor plants can go a long way to adding a bit more visual interest to the landscaping around your home. Whether you’re putting two plants on your stoop or underneath all of the windows on the front of your house, adding some greenery can go a long way in boosting the curb appeal of your property before you list it.
Work with a real estate agent who knows their stuff.
When it comes time to sell your home, it’s vital to be working with a professional who fully understands the buying and selling process. Real estate transactions are complicated, with a variety of steps, processes, and deadlines, and if you don’t have a real estate agent who is comfortable navigating this high-stakes process, you can miss out on a sale. From pricing your home competitively to helping you deal with multiple offers, a real estate agent is worth their weight in gold, and well-worth paying a percentage of your home’s sale in order to ensure that the sale of your home goes smoothly.
Don’t be afraid of negotiating!
Just because a buyer submits a smaller offer than you were hoping for doesn’t mean that you should immediately strike it down. It’s always a good idea to seriously entertain every offer you receive, even if you ultimately plan on negotiating.
From offering to pay a portion of closing costs to upgrading a washer and dryer contingent on the sale of your home at a certain price, there are a variety of ways that you can work with buyers to come to a mutually beneficial agreement. This is another reason that it’s so important to spend some time meeting with and picking the right real estate agent. With an experienced agent on your team, you’ll be far better equipped to navigate the negotiation process and ultimately come up with a fair deal that’s in your best interest.