Are you debating whether you should be putting your home on the market this year? If you are wondering where to begin, make sure you’ve answered these six important questions first before you do.
How much do you still owe on your home loan?
The first and foremost thing to consider before selling your home is whether you are actually financially capable of doing so. The way to figure this out is to first calculate how much you still owe on your homes mortgage. After you do this then you can take the next steps to calculate what your home is valued at. The difference between what you owe on your home and what your home is valued at is what determines whether you’re financially able to put your home on the market, irrespective of where you’re living in the world, or even in Southern California. If you owe less on your loan than what you are able to sell your home for, then you are in a good financial space to sell and purchase a new home.
If you’re unsure about whether you’re in a good enough financial position to sell your home and buy a new one, why not give me a quick call to chat about the best next actions you can take to get you headed in the right direction.
What is your home’s real value?
Calculating your home’s true value is not something to be taken lightly – there are many factors to take into consideration. The condition of your property is of obvious and immediate importance. The square footage or acreage of the lot and land is a factor just in the same way that its location or proximity to attractive areas are also of the utmost importance. Amenities and also recent comparable property sales in the area will give a good indication of where you should be pricing your home.
It’s a known fact that many inexperienced agents will simply agree to whatever price the homeowner thinks is suitable for them just to be able to land them the listing. But however can lead to frustration, disappointment, and even a loss of money.
Choosing an agent that prides itself on giving its clients the best market-related valuation, and making sure at the same time that they are using innovative tech and marketing is crucial in setting the best and most accurate price for your home to ensure that you attract the right buyers.
Does my home need any work to increase its value?
When the time arrives to place your property on the market, you want to ensure that your home is making the right first impression to potential homebuyers. Spend some time to look around the inside and outside of your home for anything that might need a little tender, loving care, because with only a few simple, easy and cost-effective Do-It-Yourself improvements you will not only increase the appeal of your home to potential homebuyers but you will also increase the value of your home to sell at a higher price.
So, first things first… You might want to take a stroll and walk outside first to have a look at your front door. A new handle with a fresh coat of varnish or paint will make all the difference in making the right first impression to anybody looking at your place from the outside. And while a complete overhaul in the bathroom or kitchen might be too expensive, there are a few things that can give it a facelift – think: a new toilet seat, new cupboard handles, new faucets, and replacing moldy grouting. Giving your garden some attention can also do wonders to make your home stand out. Remember that your home is not only being advertised online, it’s also being advertised to any passerby driving passed your house and the ‘For Sale’ yard sign, so take extra care to make your front porch or garden look neat and tidy. The little improvements that offer a high return on your investment can make all the difference here. Just a few home security updates like installing burglar bars or slam gates are oftentimes an example of the small things that win over the buyer for your home.
I’m also more than willing to have a chat with you to discuss the potential improvements that are needed to make your place sparkle and upgrade the value of your home. contact (951) 389-4175.
Should I really hire an agent?
Avoiding the aid of a real estate agent in order to reap the financial benefits of not having to fork over the commission fee for a sold home is something that goes through the minds of many homeowners initially. However, anyone who has ever sold property will know that selling your home can be an extremely stressful process where making mistakes can often cost you more time and money than if you had settled in hiring someone with a little expertise in the first place! In addition, real estate agents understand that a professional can add valuable insight and knowledge to ensure that your home is sold in the quickest time at the right price.
If you do choose to side with an agent, there are a few questions you might want to ask them during the interviewing phase:
- Is your agent qualified? This question may seem unnecessary, but buyers and sellers should ask the question and follow up by checking with the local real estate board. Transactions handled by an unlicensed agent are invalid. Does your agent have a good track record? The best way to find out if your agent is good at selling is to ask him/her for a list of their most recent sales and for testimonials from previous clients. While you might get on well with your agent, it’ll be of no use if they can’t actually close the deal.
- How will your agent market your property? Before signing a mandate with an agent, make sure they give you a detailed breakdown of how they plan to market your property. You should also ask your agent about the quality of the photographs they use to showcase properties – research has shown that good images are usually what sells a property, so it’s worth finding out if they use a professional photographer.
- Does your agent know the area? Potential buyers are going to want to know about the area they are potentially investing in. So, make sure your agent knows your neighborhood well – ask them about the schools, shops and shopping centers, parks, and restaurants in the area. Their knowledge of a dog-friendly park around the corner of your house could be the piece of information that gets you the best buyer.
I pride myself on being outstanding in all the areas and going well above what other agents would do to market your home. If you would like to find out how I can assist you in selling your home, contact (951) 389-4175
How long do I want my home to be on the market?
There are varying factors that influence how long your home could sit on the market, such as asking price, economic factors (like an economic boom or recession), and how many homes in the neighborhood are also on the market. Research has found that homes that are priced correctly should sell within the first two to three weeks of it being on the market.
Chat to your agent about what your needs are and in what time frame you want to sell your home, and what factors could hamper or help the timing.