Owning a house is a very special experience most people have as a goal in life. However, other than a source of refuge and shelter, it’s also an investment that can reward you in ways you never imagined. Especially if you’ve invested in a home in Tennessee, it can really pay you off now. Why? The state has witnessed a sudden boost in home prices by 26.1% over a period of one year!
However, if you plan on selling your house, you could earn as much as 50% on the property, depending on how you remodel it and add value to it. You might have seen shows about house flipping and the profit margins they make. Though some are wildly exaggerated, you can still estimate a bit of profit from the house’s sale.
This article aims to help you sell your house at a better price when listing it. These tips and tricks may help you gain the best bang for your buck. Read on to gain a holistic idea of selling your house at a fair price. Here are five things you should consider when selling.
The area and community matter a lot
The golden rule of real estate is ‘location, location, location.’ If you want high-profit margins when selling, you must invest in a suitable location when buying. As mentioned previously, if you’ve invested in Tennessee, you’ll probably get a good deal. However, if you’re still looking for an investment, consider opting for a property with a view. You can reap great profits in the long run on a nice home with a view of the mountains and a community to engage with. Tellico Village, for instance, is a large 55+ community in Tennessee attracting those looking for a home that fits their retirement plan.
This is just one example of how you can get the biggest bang for your buck when it comes to better selling prices. Remember to invest right the first time if you plan on getting better ROI when selling.
Curb appeal goes a long way
If you are having an open house, one of the most important factors to consider is the drive up to the property for a viewing. If prospective buyers pull into a house with burnt grass, dilapidated paint, and a weather-tainted door, chances are they will either pitch much lower than the asking price or not put in an offer at all. Everyone appreciates a decent exterior design, and rightfully so. When they call people over for housewarming parties in their new place, they want to show the house off holistically, and the exterior is the first place to start. Remind the buyers that they are truly getting their money’s worth with this house. Put yourself in their position. A run-down exterior will never justify the interior, regardless of how nice it is.
Trim, fixtures, and fittings are more important than you think
The subtle hints of investment show when you’re trying to sell the house. It’s the little things that help you add value to the house and make the buyer feel like they are getting true value for money. Nice light fittings, fancy doorknobs, and trim along the walls make more difference than you may realize. Moreover, throwing on a nice coat of quality paint will also add a hint of charm and an up-class feel to the entire house.
If you know DIY and are confident in your abilities, you could save a ton of money in the bargain. Moreover, shopping at antique stores can save money and leave you with fittings that could change the entire dynamic of the house.
Ensure minimal maintenance
A fixer-upper is one thing, but a complete overhaul is a deal breaker. Owners want to make changes and remodel their houses the way they want. However, no one wants a house with structural and major maintenance issues on the property. As a seller, you need to ensure that the house’s electrical systems, plumbing, HVAC, and boiler are properly working when selling the house. With that said, you need to know that these will cost you a fair deal of money when sorting the house out. Therefore, you need to make a judgment call on whether you want to get this stuff sorted out yourself or list the house as it is.
If you are just concerned with getting the building past the inspector, chances are you will have to list it for a slightly lower price. Buyers don’t want the bare minimum; they want something more since they spend hundreds of thousands of dollars. Who would know this better than you? After all, you were once a buyer yourself.
Break-even and move on
It’s a bitter pill, but if the house has been on the market for months or years, you may want to cut your losses and free up the money that is tied up. A profit is a profit regardless of how much it is; you are still walking away with more than you invested.
If you plan on reinvesting the money into another project, please free yourself up from the hassle of selling by hiring an estate agent from a reputable agency to sell your home as soon as possible. The longer your money is tied up, the more complicated the next project will get. Far too many people sit on the property, hoping for the right buyer to take the bait. It might not ever happen, so sell while you can. Financial times are such that everyone will try and lowball you; take the best offer you can get.
Conclusion
This article highlighted some tips that can help you sell your house at the best price. The last point may be a bitter pill to swallow, but you will have to come to terms with it if the situation presents itself as such. From choosing the right location to fixing the place up DIY style, these tips can help save you money and add value to the house in ways you never imagined. With that said, we hope you get the price you are looking for. Remember, the key is to upgrade and sell for a profit!
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