You’re ready to sell your home, but that doesn’t mean your home is ready to sell. How you may want to prepare before putting your home on the market depends on a variety of factors.
Are you willing to take less?
Think about two homes for sale located next to each other on the same street. One has been maintained and remodeled over the years; the other has doors that stick, a gutter hanging down, peeling paint, and décor that hasn’t changed since the 1970s. That second house may still sell despite the avocado tile in the kitchen, but not for the same price as the next-door home with granite countertops.
In fact, there are many factors that can detract from a home’s desirability that buyers can look past if you’ve lowered the price.
Price may not overcome every weakness
Even if you’re willing to lower your home’s price to take its unattractive features into account, there may still be issues that, if unaddressed, will undermine your efforts to get any offers at all. Liens on the property, back taxes, or significant defects may require your attention to increase the marketability of your home. Your Texas Realtor can help you assess your situation, discuss your options, and may be able to recommend other experts if necessary to get past hurdles.
Some remodeling projects are worth more than others
You may be surprised to learn that many remodeling projects do not pay for themselves when it comes time to sell. In fact, the latest Remodeling Cost vs. Value report from the National Association of Realtors and Remodeling Magazine shows that most projects add less to the sales price of a home than the homeowner paid to complete the project.
That doesn’t mean that remodeling is never worth the cost. Often, remodeling projects attract buyers who otherwise may not have been interested in your property. That increased interest can lead to a higher sales price, a quicker sale, or both. Remodeling also will help your home stand out from competing homes on the market. Lastly, as with all other aspects of real estate sales, the effect of remodeling projects varies by location. Speak with a Realtor, who can tell you how similar projects have affected the sales of properties in your neighborhood.
Get more advice on preparing your home for sale, plus other tips for buying, selling, and leasing real estate in Texas, at texasrealestate.com.
The Greater Fort Worth Association of Realtors is one of more than 1,400 local boards and associations of Realtors nationwide that comprises the National Association of Realtors. As the nation’s largest trade association, NAR is “The Voice for Real Estate,” representing over one million members involved in all aspects of the real estate industry. The Greater Fort Worth Association of Realtors serves more than 2,700 members by providing MLS services, education, governmental affairs, etc. For more information, visit www.gfwar.org.