The worth of a house depends on a lot of things, the location and condition of the property being the major determinants. However, even that is not enough if you want to draw maximum value from home selling.
To get the most out of its resale value, you need to
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Undertake the right improvement projects
If you decide to improve the appearance of your house just before selling, it might not be a good idea. The cost of remodeling might not get covered- the seller can expect to get back 50 to 60% of his investment on average. There are instances where the seller was able to recover all his investment, but that would be a gamble you should not be playing. Also, most of the buyers prefer to remodel the house themselves. So, instead of investing in remodeling, you can work on improving the house. For example, you can invest in improving the structure of the house or go for leaking shower repair. All the basic systems in your house like electricity, water, gas connection, etc., should be in place.
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Prepare your home for sale
Small improvements like painting your house or a deep cleaning session, can be a good idea to maximize your home's resale value. You can plant trees and plants along your home boundary and in the garden to improve your property's overall appearance and curb appeal. You might also want to de-clutter each room to give your house more space so that property buyers can understand the actual area.
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Maximize the appraisal value
A way to increase the appraisal value of your home is by getting all the required information about the past improvements. Make a record of all the home improvements done previously that might increase its value. Conduct a competitive market analysis to collect vital information about the neighborhood; that can help in increasing its value. Take all the necessary measures that would help you to get the maximum value during the appraisal process.
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Seek help from a professional
The process of selling your home is tedious. Even if you have the best home in the area, you might find it difficult to get the right buyers who are willing to take the property at your desired amount. The negotiation process can be very tricky, and only a real estate professional can help you throughout the process. Apart from negotiating the price, they might also help you to negotiate the agreement terms. With a seasoned real estate agent, you will surely have a competitive advantage.
Also, an initial consultation with a professional real estate agent will give you an idea about the right price for your property. In a buyers' market, the buyers would initially offer a lower price. But that does not mean that they are not ready to negotiate. When you have an experienced real estate agent, they can help you draft a counter-offer and get the best price for your property.
* This is a contributed article and this content does not necessarily represent the views of realtytoday.com
