A home seller has three tools available to affect the marketability of their home: price, condition and terms. Price is the easiest to adjust for the competing properties, amount of inventory or market conditions. However, lowering the price is not necessarily the best decision when trying to maximize the proceeds of sale.
If a home is in outdated condition, updating can be done to make it show favorably with other homes that are currently on the market. Sometimes, sellers rationalize not doing the work by saying they believe the buyers would rather make their own choices. The truth is that most buyers are using all their resources to get into the home and will choose to live in its present condition.
Another reason to go ahead and invest the money and effort into improving the condition is that it is difficult for buyers to imagine the home any other way than its current condition. When comparing one home to another, buyers will sometimes refer to a home as the “stinky house” or the “old kitchen” which will put it at a disadvantage.
While price and condition are the main things that control the marketability, terms can be equally effective. Terms relate to financial considerations made by a seller to induce a buyer to make a decision to purchase their home.
Increasing the marketability of your home is a great conversation to have to help you get the highest price in the shortest time with the fewest problems. If you are thinking about selling in the next 2 years, we can help you start preparing your home now, so that you can spread the cost of improving over time until you sell. Call us today to make sure what you spend on improvements is the right choice. Popular upgrades and updates are the only choices that will bring more money when it's time to sell.
Dale Ross Realty Group, 281-599-6575.