Money For Lunch – Getting Ready To Put Your Home on the Market

Getting Ready To Put Your Home on the Market

January 23, 2018 10:54 AM0 commentsViews: 9

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If you’re planning on putting your house on the market, there are a lot of details that you should go over before you officially begin the process. One of the best ways to not get the amount of money that you want, or to not have everything go on schedule properly, is to fail to prepare.

You’re going to want to look at things like the appraisal process, the importance of curb appeal, the best way to compare updates and overhauls to your house, and the basic pricing for houses in your area. And yes, you want to do all of those things before you officially put your home on the market.

The Appraisal Process

 When it’s time to get your home appraised, there are some things that you can do to prepare for the appraiser. Typically, home appraisers are going to think in terms of increments of $500. In a practical sense, that means that anything that you can find in your home that looks like a negative – you need to fix it if the cost is less than $500 to improve. This is an excellent piece of advice for people who don’t want to lose money simply because they didn’t pay enough attention to small details in advance.

Understanding Curb Appeal

 A big part of the value of your home is going to come from curb appeal. If you don’t like how your house looks from the outside, neither is a potential buyer. If your landscaping looks wild, or your entryway is cluttered, or your doors and windows are dirty – all of these things can decrease the perceived quality of your home, which leads directly to you not being able to ask for a higher price. A few simple improvements in curb appeal can make all the difference when it comes to making people feel invited into your home area for a sale.

Comparing Updates and Overhauls

 For as much as you want to put in a luxury bathroom right before you sell your house, there are many cost and benefit equations that you should do. If the luxury remodel is going to cost $10,000, and it only improves the value of your home by $3,000, then you’re operating at a loss. Ideally, you look at possible construction projects, like re-insulating your roof for example, and then choose to do the ones where you make money instead of losing it.

Check Your Locale

 Finally, no matter how much you think your home is worth, other people may not agree. And one way to check that is to see what other houses in your neighborhood are selling for. Ideally, you should find one that soon comparable size and shape, and see what the last selling price was for it.

 

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