The housing market is transforming, due in part to a number of factors. While the nation's recovery from the recession of the late 2000s is ongoing, the real estate sector is responding accordingly, and a market that once benefited buyers has quickly shifted into sellers' favor.
Selling a house, however, still remains tough, even for those who have listed their houses in the past. Today's marketplace continues to change, and as mortgage rates rise around the country, fewer buyers may pursue residences in the near future.
As a result, it is important for sellers to devote the necessary time and resources to their houses before listing them. A home inspection is pivotal, and after this evaluation, a property owner can prepare his or her house for the real estate market.
Consider the benefits of redesigning a residence
While a few minor repairs might be necessary in some houses, others may require extensive maintenance. Joe Radmacher, a home design professional, points out that sellers who complete crucial renovations, however, can benefit, and these people may find numerous buyers interested in their properties.
Redesigning a residence could be expensive, so start small and make gradual progress. A homeowner who establishes priorities could benefit, as he or she can take an in-depth approach to home maintenance.
Meanwhile, sellers should consider the pros and cons of do-it-yourself repairs. In some situations, property owners could save money if they learn to complete specific maintenance and perform various projects on their own. An analysis that includes the costs of various supplies and the estimated amount of time it may take to finish home repairs is often helpful and can help sellers stay on track.
Make a great first impression
Sellers only get one chance to make a first impression. Put the best foot forward every time by completing a thorough property inspection, as this evaluation enables property owners to determine which repairs must be completed soon.
For instance, it might be worthwhile to finish some maintenance projects during summer. Warm temperatures create favorable conditions, which sometimes makes it easier for homeowners to repair gutters, fix fences and complete myriad outdoor tasks.
Additionally, closely evaluate the exterior and interior of a home. Radmacher notes that many buyers will notice even minor cracks and holes immediately, and those who want to make positive first impressions should focus on fixing these problems.
"Potential buyers will look at cracks in the paint and immediately decrease their perceived value of the property," Radmacher said. "Fortunately, the summer season is great for repainting homes in many areas, so now is the time to recruit a professional painter."
Revamp a house's interior
Staging a house is usually beneficial for property owners because it allows them to create comfortable indoor environments. During open houses, buyers are more likely to enjoy their visits if sellers stage their residences the right way.
Setting up furniture and ensuring that each room is pristine could go a long way in today's real estate market. Many buyers are conducting more research than ever before, and as a result, sellers who host memorable open houses may be able to differentiate their residences from others available around the country.
Radmacher also states that a new paint job could help a house stand out to buyers. Sellers should avoid drastic changes, however, as these modifications could do more harm that good.
"Go neutral. Bold colors are off the market while your home is on the market," Radmacher said. "The best [and safest] bet is a neutral color. As you prepare to sell your house, remember that the buyer will want to personalize the space and a bold color could interfere with his or her imagination."