There are a couple of things that can ensure you get the absolute top dollar for your home when you sell it. Working with a realtor who knows their stuff like Reed Pirain is a great start, but you can do more in the home to maximize a great price.
Local market
Your realtor can work magic, but you need to clearly understand what the rental market looks like in your area. While your house might have some extensions, new features, and a bigger back garden than others, it might not sell for more than average because of the location.
Realistic expectations are essential regarding your ideal sale price vs. the realistic price.
Look at the local sales pages for houses in the same location as yours to start to get a clearer picture. You can also have a chat with your realtor for some clarity.
Sale time
Some months are much better for selling than others; if you choose the wrong month, you could see a few thousand less on the sale price. There are high buying times and low ones. Often the winter isn’t an idea for selling, while the summer can see peaks because people find it easier to move during school holidays.
Try to work by the timetable of the people most likely to buy your home.
Costs
Selling your home will cost you money no matter how and when you decide to do it. In your mind, keep the idea that you will need to pay about 10% of the price of the house out in fees. Seller concessions, repairs, maintenance, realtor fees, moving, and overlapping costs.
No matter the price tag, the final price is at least 10% less.
Minor renovation
If you are thinking about doing some big renovations – think again. Not all home renovations are made equal; in some cities, a basement renovation can bring in 5 times what it costs – while in others, it can be as little as a few % of the total cost.
For homes with a high asking price, pools and wooden flooring make a big impact, but those things don’t have the same impact for houses that don’t have a huge price tag. For less expensive homes, bathrooms and kitchen remodeling adds the most value.
Price perfect
People are more likely to happily bid over the asking price if the original price wasn’t too high to begin with. When the property price matches the location and the house perfectly, there are likely to be multiple interested parties.
Multiple interested parties can spark a bidding war than can push your sale price a few thousand above the asking price. Since people are naturally competitive, they are likely to keep bidding when others are interested – because that usually signals that the house is worth it to more people.
Finishing touches
As people view the home, they are going to inspect all of the little things about the house. They’ll look at creaky doors, windows that jam slightly when closing, leaking taps, and stiff light switches.
Before you list the house, go through everything with a fine tooth comb.
One thing that you’ll be looking to do as much as maximizing the sale price is to save money on the next house you buy: How To Save Money When Buying a Home.