Selling Your Own Home; Step 1 - Research & Renovation
The beginning stages of trying to sell your home on your own are very critical because planning means everything to the process.
Those home owners who believe that simply sticking a price tag on their home will get the sale are sadly mistaken, especially with how the house-selling market is today. More often than not, the home owner waits instead of executing a quick sell.
What can speed the process? Research and renovation.
Look at similar units being offered in your area and how they are being renovated. Think of how you can make your unit better than the others. Make the upgrades where necessary. You might be surprised about how much that will swing the buyer’s interest.
Here is a breakdown of the strategy you must implement to sell your home for the price you want in the amount of time you deem necessary:
- Fix up the place. Make the place look pristine to the buyer. Leave no area unturned. Repaint the house. Replace worn carpeting. Repair where necessary. The buyer is more apt to be interested in taking the next step by feeling like the home is practically like brand new. Any unsightly areas or broken-down facilities will be an immediate turnoff.
- Remodel with an effective plan. Make sure the amount you invest in a remodel will be resold at a similar or better value. In other words, if you have more than $10,000 to spend on a remodeling project it might be wiser to do that on a master bathroom instead of a kitchen. Studies show that buyers are more interested in purchasing a unit with a modern bathroom style rather than a grungy old facility. Kitchens generally do not sell for the same resale value from what is put into it.
- Know your neighborhood. You should learn your local market before deciding on home improvements. Avoid renovating your home to where it becomes the most expensive one offered on the block. Spend the money on renovations that reflect the marketplace. Don’t spend an elaborate amount on renovations if it is not necessary. Talk to local realtors, visit home-improvement stores and go to open houses to get a better idea of what’s selling in your neighborhood. Get a list of certified real-estate appraisers to consult in your area.
- Consider market trends. When contemplating renovations you should also pay attention to the home-selling market. You don’t want to spend too much for something that might be dropping in value. This requires research and consulting with home-selling experts.
- Light the way. The most overlooked aspect of home-selling by the owner is the aesthetic presentation of the house. Would you rather buy a gloomy dark house with heavy curtains and little lighting than one that is bright and airy? How many times have you driven to a property at night that you might be interested in and it is not well-lit and uninvitingly dark? If you are serious about selling your house make sure your home is well-lit and night and your interior is very bright with the use of light drapes.
The modern-day sale of your own home requires unconventional means and thorough research and implementation of a plan. Who would have thought that lighting can make a difference? With the technologically advanced capabilities of the Internet, showing your home on eBay or on a blog might also do the trick.
Yes, that’s right, a blog. Some homeowners have found success selling their homes from out-of-town buyers that way.
Like anything in sales, it’s how strongly you reach out to the buyer that will make the difference. The bold action must first come from the seller: You. It will require a lot of hard work and some money spent, but your focus must be on selling that house of yours. Nothing can be left to chance.
Thank you to Javier Morales for this "Selling your own home - Part 1" article
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