Selling Your Home - Common Q&A About Selling Your Home
Should I add on or buy a bigger home?
Consider these questions before making a choice between adding on to an existing home or moving up in the market to a bigger house:
* How much money is available, either from cash reserves or through a home improvement loan, to remodel the current house?
* How much additional space is required? Would the foundation support a second floor or does the lot have room to expand on the ground level?
* What do local zoning and building ordinances permit?
* How much equity already exists in the property?
* Are there affordable properties for sale that would satisfy housing needs?
Ultimately, the decision should be based on individual needs, the extent of work involved and what will add the most value
How do I prepare the house for sale?
First and foremost, put it in the best condition possible. Condition alone can sometimes prompt fast buying decisions. A nice looking home triggers the emotional response that can lead to a financial response.
So, fix any defects such as peeling or faded paint, cracks, stains, etc. Don’t show your property until you feel it’s been completely fixed up. Buyers may use a negative first impression as a means of negotiating a lower price. That also means taking care of any major repairs that could deter a buyer (such as replacing any broken windows or replacing a leaky roof) if you can afford it. Next, work on your home's curb appeal. Make sure your landscape is pristine. Mow the grass, clean up any debris and weed the garden beds. Plant a few annual flowers near the entrance or in pots to be placed by the door. Other quick fixes that don't cost a lot of money but can help you get top dollar for your home:
- Clean the windows and make sure the paint is not chipped or flaking.
- Clean and freshen up rooms, furnishings, floors, walls and ceilings. Make sure that bathrooms and kitchens are spotless.
- Organize closets. Maybe even add closet organizers to enhance the storage
- Make sure the basic appliances and fixtures work. Replace leaky faucets and be sure the electrical and lighting is all in good shape
- Eliminate the source of any bad smells, such as the kitty box. Use air freshener or bake a batch of cookies before your open house to ensure that the house smells inviting.
- Invest in a couple of vases of fresh flowers, colorful/clean hand towels and soaps to place around the house