Are you starting to think about your next move? Have you lived in the same home for the last twenty years and are thinking about downsizing now that the kids have moved out? Is a career change leading you to find a house in a new town? Whatever the reason for your move, selling the current Pittsford home is an important step in the process.
Ever since you first moved into your New York house, you have been building equity in the property the more you have paid down the principal amount on your mortgage. More equity means a greater profit once it comes time to sell. However, there are other ways to increase the offer amounts that you can get on your property.
While natural appreciation tends to raise the value of your home over time, other market factors could reduce its effects. You might have to rely on other means to receive better offers for your property. Here are some tips to get a better sale price for your home and earn more profit.
Table of Contents
In a competitive market that favors sellers, waiting for better offers can benefit you. When a home is a hot commodity, multiple buyers can drive up the price in a bidding war. However, if you accept the first offer, or are trying to sell your home quickly, then you could miss out on greater returns from the sale. However, this strategy could backfire in a buyers' market, so make sure that you understand the current real estate atmosphere before you consider this strategy.
Curb appeal is how your property is perceived from the outside. When people see pictures of the exterior or walk by, do they find your home appealing or are there cosmetic issues? These problems could lower the chance of you finding a buyer who is willing to make a good offer. Boosting curb appeal can be as simple as clearing the garden of weeds, power-washing the siding, or putting a fresh coat of paint or stain on the front porch railings. Additionally, keeping the lawn well-manicured can also improve the overall aesthetics of the property, attracting more buyers to the home.
House-hunting is an extremely visual process. Buyers want to see what their future homes look like, and how you present the spaces inside and out can make a huge difference. But if you have poor angles for the photographs or too much clutter in the rooms of the house, it can be hard to convince buyers that this property can become their future home. Professional stagers and photographers can present the home in its best light, making it look aesthetically pleasing enough to encourage buyers to schedule a visit. Plus, with modern strategies like virtual tours, you can take full advantage of a professional touch to advertise your home.
Upgrades to the home are a great way to skyrocket the value. The cost of the upgrades usually is far outweighed by the increase in the value of the property. You could hire a custom deck builder to add an exterior living space. A kitchen remodel could turn an outdated space into a modern cook’s paradise. Bathroom upgrades can make these spaces more luxurious for yourself and future buyers. Even something simple like putting in a new garden can add appeal to your home and increase the potential listing price at the same time.
Coming up with a good listing price can be complex. As you try to determine what to list your home at, researching the local market for comparable homes can help you choose the optimum price. See if there are unsold houses that are similar to your own on the market. What prices did they start with? What does your home offer that theirs did not? How can you make improvements on elements of your property that may have caused buyers to look away from those comparable properties? This level of research will give you a better perspective on what price you can expect to get offers for while preventing you from setting too high or low of a price.
As mentioned before, selling your home is a chance to make a profit when you have built enough equity and increased the value of your home. The profits from the sale could cover a larger down payment on the next home or an investment somewhere else that sets up your family for the future. By following some of these guidelines to get a better price for your Pittsford home, you can walk away with more money. Be willing to wait through a bidding war in a sellers’ market. Work on improving the curb appeal and hire professionals who can make your home look even better. Make home improvements that increase the value and look at comparable properties when setting your price. These strategies can position you well for the next stage of life.
