If you are selling your home, you'll want to do everything you can to get the most money possible for it in a highly competitive market.
From making the interior and exterior more appealing to upgrading the home’s operation systems, you can do a wide range of things to make the most profit when you selling your house.
Here are 12 Tips to Get the Most Profit From Your Home Sale
Selling a home isn't always as straightforward as you may think. In order for your sale to be successful, you may have to create demand in creative ways – especially if you're looking to make a considerable profit.
If you are unsure how to sell your house in 2021, the following tips are common ways to make your home stand out and get the most profit possible.
1. Understand the Local Real Estate Market
Consulting with a local realtor will help you navigate the complicated and ever-changing real estate market in your community.
Finding the right agent allows you to better understand the local market and the regulations, customs, and marketing trends.
SimpleShowing agents do 3x the number of transactions compared other agents, so you'll get the most updated insight on the market. Plus, when you sell with a SimpleShowing Agent, you'll profit $7,500 more on average by saving on commission with our 1% listing fee.
2. Improve Curb Appeal
The way your home looks will establish a first impression that will leave an indelible mark on prospective buyers.
Making major improvements like replacing vinyl siding or installing a new door can boost the home’s curb appeal and add percentage points to your offer.
If more costly repairs and renovations are outside your budget limitations, simpler improvements like making sure the hedges and trees are neatly trimmed, giving exterior accents a fresh coat of paint, and pressure-washing the driveway will give your home a clean look for potential buyers.
A well-landscaped lawn and a clean patio with comfortable garden furniture is a relatively inexpensive improvement that will add to the home's overall value.
Making the exterior of your home welcoming and inviting will improve the appeal and increase the asking price for the property.
4. Upgrades to Kitchen and Bathrooms
The kitchen and bathrooms are not only the most-used and abused rooms in the house, but they are also the rooms home shoppers ask about most frequently.
Even minor remodeling and upgrades to the countertops, cabinets, or fixtures will make these rooms look new. Upgrading appliances can also increase the value of the home and its resale price.
5. Timing Can Make a Difference
Industry research has shown that the early spring is often the best time to list a home for sale.
In major U.S. cities, homes listed during the spring have far more success than similar homes sold at other times of the year. The global coronavirus pandemic has thrown some of these findings into flux, but spring is expected to remain the best time of year to get the most for a home sale.
6. Clear the Clutter
It is essential to present the home in its best condition. For any showing, all clutter should be removed, and rooms should be clean and organized. Cleaned and organized rooms will give the impression that the home has been well-tended to and cared for. A clean and uncluttered room will also appear larger than a mussed-up space. Wipe down the baseboards, cabinets, and vents to clear the home of dust and dirt buildup.
7. Make All Needed Repairs
Making all needed minor repairs throughout the home will make it more presentable to prospective buyers. You want them to be thinking more about how they will enjoy their new space instead of what they will need to fix up and repair. If potential buyers notice the small, obvious items in need of repair, it will make them wonder about bigger issues they cannot see.
8. Install Smart Home Technology
Recent advances in smart home technology make automation and remotely-controlled home systems standard fare for new home sales. Smart thermostats, blinds, locks, and safety systems save money and add heightened security measures to the property. Younger homebuyers now expect many of these household systems to be run by smart technology that can be monitored and controlled from their cell phones and other mobile devices.
9. Install Ceiling Fans
Ceiling fans add more to the rooms in your house than an efficient way to circulate air. Having ceiling fans in at least one room adds to the home's look and value, and homebuyers are willing to pay more for them. Ceiling fans are a relatively cheap and easy way to increase the resale value of the home.
10. Update Flooring
Dingy carpeting with traffic marks will turn off potential buyers and pose potential health hazards for those sensitive to allergies and asthma. If it is in your budget, replacing carpeting with hardwood floors is a classic look that fits most design styles and is easier to keep clean and looking fresh than other materials. Laminate flooring can give you a similar look to hardwood for far less expense.
11. Price Home Accurately
Avoid making too high of an initial asking price in hopes you can get more money for the home than it is worth. Pricing the home above the market price can wind up causing your property to stay on the market much longer. Most financial and realty advisors recommend listing the home below market value to attract more buyers who understand the market. The more offers you receive on the home, the more negotiating power you gain, even if the starting price is lower than what you hope to get for the home.
12. Take Advantage of Digital Marketing
We live in a digital world that relies on the internet for everything from ordering groceries to buying a home. Take advantage of online marketing opportunities in the real estate industry. Investing in high-quality photos or video production will enhance the home's appeal and generate more interest in the property online.
Instantly Profit More When Selling Your House by Listing With SimpleShowing for 1%
You need every advantage when selling your home in today’s complex real estate market. The best chance you have to get the most for your home sale is by listing with the expert real estate agents at SimpleShowing.
We'll not only help you accomplish all of the 12 tips mentioned above, but we will instantly save you $7,500 on average on realtor commissions with our 1% listing fee. To learn more about how our team of knowledgeable professionals can help with your home sale, contact SimpleShowing or request a free home valuation today.
Choosing the right real estate agent can significantly influence your sales price and the overall selling experience. Remember, many real estate agents may promise sky-high prices, but setting a realistic price close to the market value will attract more active buyers and leverage your negotiating power. This strategy also helps to drive buyer demand and create an environment ripe for multiple offers, especially in a thriving seller's market.
A pre-listing inspection is another essential tool to make as much money as possible from your home sale. Not only does this proactive approach enhance trust with most buyers, it also allows you to make necessary repairs in advance, thereby boosting your home's value and ensuring more money in your pocket at closing. It's worth mentioning that lower closing costs typically appeal to buyers, giving your home an edge over competition.
Lastly, keeping in mind the national average and understanding your local market's trends is vital. The market's ebb and flow will affect buyer demand, and knowing when and how to capitalize on these shifts can mean a difference of thousands of dollars. Thus, implementing these tips when selling your home can maximize your profit, meet buyer expectations, and give you a smooth selling experience.