Are you looking to put your home on the market? You may be surprised to learn that in the USA, half of all homes sell below their asking price, meaning that even if you ask for a reasonable sum, you still may not get it.
Why is this happening? It is thought to be due to the conditions of the homes being sold and, of course, it also reflects the difficulties that can come with home selling. For homeowners, it is best to try to focus your mind on what you can control, what factors impact your home’s resale value, and what you can change.
Safety
As many as 24% of people looking to buy a home have young children, according to Housing Wire. The safety of your home is key to making the sale. Are all the electrical sockets wired correctly? Do you have carbon monoxide detectors as well as fire detectors? If you have a pool, is it fenced off? You can have a safety inspector come to check if your carbon monoxide and fire detectors are working, and if you have a pool, you can easily have a frameless glass fence set up. These are often lockable and do not obstruct vision around the pool, adding to the safety factor.
Energy-Efficiency
A thing that buyers love in a home is its energy efficiency. If you have a home that scores an A on the efficiency meter, you are more likely to get your asking price at sale.
There are a few things you can do to pre-emptively improve this scoring. Make sure your double or triple-glazed windows are not damaged, check that the insulation in the roof is intact, and have cavity wall installed. For appliances, like ovens, washing machines, and fridges, make sure they have an Energy Star label. The buyers may not be buying these items with the home, but it helps the home to look good.
Layout
For your home layout to increase the chances of a sale, focus on the two F’s: functionality and flow. For your living room, dining room, and even your upper floor, you will want to make sure the furniture is positioned in a way that allows easy access through the home. This can mean open floor plans and having a logical layout of furniture. It sounds simple, but it makes an enormous difference.
Yard
Would you pay full value for a property that had an overgrown, messy yard out the front or the back? When you are aiming to put your home on the market, it is best to get the front and back of the space cleaned up and to make the yard look organized.
This means mowing the lawn, redefining any flower beds, and, of course, making sure that any debris (such as fallen leaves) is also cleared away. This makes the space more appealing and easier for potential buyers to mentally plan around. In short, it allows them to see what they will do with the space.
So, there you have it. It is a tough economy out there for people looking to sell their homes. With a bit of prep of your home, you will likely get the asking price or higher.