Tips For Selling Your Home
By HEATHER ARIAS
Homes are sold for various reasons. Many Baby Boomers, for instance, want to downsize because their large space is just “too much home.” Downsizing is a major reason for selling a home today, and valuable tips can simplify the selling process as well as ease the transition of moving, says Corinda Wong, REALTOR® and partner at Locations LLC.
“People downsize for a variety of reasons. Some people want more time and money to travel or pursue other endeavors, or sometimes, the headaches associated with the cost and physical burden of maintaining a home are just too much,” explained Wong.
Getting an expert assessment before making any decisions gives you time to take all the facts and information into consideration. It allows time to find out how to maximize the value of your home, consider where you wish to move, and think about what the pricing of a new home may be.
STEPS TO FOLLOW WHEN DOWNSIZING
“The first step is setting goals with your Realtor and having a clear vision of what you would like to achieve. A good Realtor guides clients with all of the details by developing a plan — usually five to seven steps, depending on their home and needs,” Wong advised.
Families often need guidance after living in one location for many years. “We encourage our clients to de-clutter and clean the home before listing,” added Wong. “Because selling a home can be such an emotional process, my team and I provide assistance to our clients based on their needs. We have relationships with vendors that we’ve done business with over many years that can help facilitate the moving, cleaning and de-cluttering, and we also put together a timeline of goals,” she explained. “If the family is also planning on another purchase, coordinating the sale and moving to the new home is another step that needs to be strategically thought out.”
IS THERE A RIGHT TIME TO DOWNSIZE?
“That’s usually based on a personal evaluation,” Wong suggested. “But market timing — during a seller’s market
or upward market such as we are experiencing now — is optimal. Buyers are competing for properties because of the low inventory. However, this still means that marketing your property is very important. Exposure, pricing and the presentation of your property are all-important elements of selling a property,” she expressed.
Are there advantages to selling a home that’s going to need some repairs versus selling a home that’s a turnkey purchase for the buyer? “It is always the client’s decision whether they would like to make repairs to the home or not,” Wong said.
However, there are factors that determine whether or not repairs should be done, including safety issues, the market, budget and understanding what types of repairs are most important. With this information, sellers can make decisions that will have the biggest impact.
After a thorough assessment of a client’s property, Wong says she presents scenarios for “what will happen if we sell it ‘as-is’ or with different levels of upgrades. I review the costs and benefits, logistics and other things that are important to the owners. Then, we decide what is best for their situation,” she added.
SHOULD YOU ‘SELL AND BUY’
AT THE SAME TIME?
“It really depends,” Wong explained. “Some prefer moving into a retirement community. Some prefer renting to see what metro life is like before committing … everyone’s situation is unique.
“We have also worked with families who are helping a parent or loved one sell a home that has become too much for them to maintain on their own. As real estate professionals, we are here to answer questions, provide options and help people make important decisions about their real estate investments.
“Selling and buying at the same time can be somewhat of a balancing act. By working with a qualified agent who knows how to structure purchase contracts, you can facilitate a smooth transition. Sellers shouldn’t have to worry about storage for their items, being ‘homeless’, or renting short term. You can absolutely sell and buy at the same time,” Wong exclaimed.
Visit https://www.locationsllc.com/selling/selling-your-home.aspx to receive a free Competitive Market Analysis for your home.
CORINDA’S KEY ITEMS WHEN PREPARING TO SELL YOUR HOME
1. DECLUTTER This includes organizing closets and drawers
2. CLEAN – Everything! All visible surfaces should be clean and shiny
3. CURB APPEAL First appearance is very important. Have the yard cleaned and manicured, and be sure the front entry of the home has an inviting appearance
DOES YOUR HOME MEET YOUR NEEDS?
- Has your family situtation changed?
- Do you want to move closer to loved ones?
- Does your home have too much/too little space?
- Does the area where you live no longer suit your needs? Do you want a change?
- Are you relocating for work?
If you answered “yes” to any of these questions, now may be an excellent time to sell your home!