25 Tricks To Sell Your House for a Bigger Profit
25 Tricks To Sell Your House for a Bigger Profit
Earn top dollar on your home with these simple tips.
By Alaina Tweddale Jan 28, 2022
It takes a savvy home seller to negotiate top dollar for their home. That’s why GOBankingRates talked to the experts and compiled the 25 best tips on how to add value to your home before you put it on the market so you can get the best price possible. What Adds More Value to Your Home: Indoor or Outdoor Upgrades?
Discover some of the best insider tips for selling a home.
Stage Your Property
Seventy-seven percent of realtors agree that it’s easier for a buyer to visualize a staged property as a future home, according to the National Association of Realtors 2017 Profile of Home Staging. The average cost to stage a home is between $2,000 and $2,400, according to data from Realtor.com. If you’re unsure how to stage a home, consider using a real estate agent.
Staging the living room for buyers, followed by the master bedroom and the kitchen were found to be most important, according to the report.
Research Your Ideal Homebuyer
Different property types attract different types of buyers, each of whom has different homebuying wants and needs. Knowing your target buyer can make a substantial difference when selling your home.
For a single-family home in good condition, for example, the target buyer is likely looking for a move-in ready home. This type of buyer “does not want to do any repairs, and so spending time and money to make repairs makes sense,” said Lucas Machado, president of South Florida-based real estate investing firm House Heroes.
“If the property is in poor condition … it likely won’t qualify for a traditional bank mortgage,” Machado added. “This means the buyer is likely to be a real estate investor or cash-flush homeowner that intends to repair the property.”
These types of buyers prefer to do repairs and upgrades themselves. “The investor can likely do that work with more skill and less cost than the regular homeowner,” said Machado.
Create a Digital Home History
Buyers today seek homes that are move-in ready and well-maintained. Online services, like HomeZada, allow a seller to create an online digital footprint that details a home’s maintenance records, floor plans, warranty documents and more. If you have properly maintained your home, an online digital footprint can enable you to showcase your efforts while allowing potential buyers to fully appreciate the home’s maintenance history.
Boost Your Curb Appeal
How a home looks from the outside has a huge effect on how many potential buyers walk through the front door.
Than Merrill, CEO of FortuneBuilders, suggested investing in a new front door. If buying a replacement door is not within the budget, “consider repainting it for a fresh, clean look,” he said. It’s an affordable renovation you can make for less than $1,000. “Also, pressure washing the driveway and front walk — and trimming the hedges and trees — contribute to the overall look of the house.”
For people with a higher budget for renovations and repairs, Cannon Christian, president of Renovation Realty, suggested replacing worn vinyl siding. New vinyl siding can have an 80 percent or higher return on investment, according to Christian.
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