Thinking about selling a home? You’ve come to the right place! Using our years of experience in real estate, we’ve put together this guide to help you sell a home successfully.
Factors to Consider
Selling a home is often more emotional than buying a home. It is important to consider all factors that influence the sale of your home or real estate property. In this article, we list 7 factors you may want to consider when planning the sale of your home.
Factor #1: Motive for Selling
- Price
- Location
- Condition of property
- Size
- Design/style
- Accessibility
Factor #2: The Cost of Selling
- Calculate the expenses that may be incurred while selling your home
- Some examples of cost of selling your home: Commission to be paid to the agent, taxes, advertising costs or specific reports such as property inspections.
Factor #3: Price
- Establishing the price to sell is the most important factor
- Listing Price can make or break the deal
- Over-pricing of the property may result in a smaller buyers pool, thereby prolonging the time that property is on the market. This will result in lower offers being submitted.
- Under-pricing of the property can result in loosing money on your investment.
Factor #4: Location
- Although you can not change the location of your property, location plays a very important role in marketability of your property.
- It is important to consider the price of other homes sold in the area
- Is the neighborhood well-established, up-and-coming, or transitional?
- Is your property located in a rural or urban area? What is the zoning?
Factor #5: Condition of the Property
- This factor determines very often how fast your house sells.
- FACT: acquiring the highest market value and elevating your home above others in the same price range often comes down to first impressions.
- Inexpensive ways to maximize your home’s curb appeal:
- Keep the grass cut and yard clutter to a minimum
- Apply fresh paint to any wooden fences and your front door
- Clean windows inside and out
- Wash or paint your home’s exterior
- Ensure gutters and other exterior fashions are firmly attached
Factor #6: Staging
- Did you know well-placed furniture can open up rooms and make them seem larger, more open?
- Open up drapes, blinds and turn on lights to make a room seem bright and cheery
- Staging your home to look its absolute best is an important factor in the selling process
- Here are some inexpensive ways to highlight your home`s best features:
- Clean or paint walls and ceilings
- Clean all flooring and fixtures (e.g. lights, fans)
- Repair all plumbing leaks
- Remove excessive wall hangings, furniture and extra personal goods
- Turn on all lights and open the drapes during the daytime
- Play quite background music and infuse your home with a comforting scent
- Vacate your home when it is being shown to prospective buyers
Factor #7: Accessibility
- Accessibility plays a major role in the desirability and price of your property.
- Important areas to think about that will impact the price of your property:
- Public transportation
- Main roads
- Shopping centers
- Schools
- Outdoor areas
- Public pools
- Parks
- Playgrounds
- Entertainment centers
