Historically low interest rates have generated a seller’s market, with more people searching for homes than there are homes on the market. While that should make selling your current home easier, it’s not a guarantee. Here are nine tips to help you get that ‘sold’ sign up on your lawn before you close on your new Coastal Point home.
1. Sell Your Current Home First
It seems intuitive, but there are a surprising amount of people who attempt to buy and sell at the same time. Selling your current home first ensures that you have the down payment needed to put toward your new home, makes it easier to get a loan and keeps you from paying two mortgages.
2. Find a Qualified Realtor
Working with an experienced Realtor is important, as a Realtor can help get you the most money for your home. They’ll create a plan for selling, run open houses and even help you buy a new home as you sell your current one.
3. Check Your Finances
You know that you should check your finances to ensure that you can secure a loan, but you should also plan for additional expenses related to selling your current home. These can include agent commissions, repairs that need to be made after the home inspection, staging costs and possible closing costs.
4. Set a Timeline Before You List
Once you’ve decided to buy a new home, it helps to create a timeline for selling your current home. On your to-do list should be interviewing agents, making needed repairs on your home, decluttering, deep cleaning and staging.
5. Consider a Preemptive Home Inspection
A preemptive home inspection will lower the possibility of a buyer asking you to reduce the selling price of your home because of issues their inspector finds. A home inspector will tell you what should be fixed and if there are any health and safety issues to consider, and your Realtor can help you create a list of fixes prior to showcasing your home.
6. Decide on a Realistic Price
Even in a seller’s market, you must set a realistic price for your home. Your Realtor should be able to help with that by comparing your home to other homes in your neighborhood that are comparable in size, have similar features and are currently on the market or have recently sold.
7. Stage Your Home
Whether you choose to stage your home or not depends on how quickly you want to sell. Deep cleaning, removing personal items, decluttering cabinets and closets and adding a few neutral homey touches will help prospective envision themselves living there. Your Realtor will also have your home photographed to generate interest, and you’ll want it looking as sellable as possible.
8. Make Sure You’re Online
Nowadays, buyers start searching for homes online. Your Realtor will take pictures, but you might want to consider investing in 3D technology so prospective buyers can virtually tour your home.
9. Check With Your Builder
Many builders offer to help you sell your current home. Gehan Homes, for example, works with Opendoor to help you sell while you buy. Check with your builder to see if they have a home buying program or partnership. If nothing else, they may be able to set you up with a qualified Realtor to help you sell your home quickly.