"Dude, just tell me what I have to do. I just want to sell this house as fast as possible." Slight pause. "But I don't want to give it away."
Makes sense right? As a Realtor that's basically what I hear from every Home Owner I talk to that's looking to sell their house. And that's my job, that's why you hire me. BUT.... You have to hire me sooner, rather than later. Doing that makes all the difference in the world. I'll explain that in a minute. First things first. Because the very first question you as a Home Owner have to ask is, "Do I really want to sell my house? Am I going to make a commitment to selling my house?"
There are many reasons why people chose to sell their homes. Some families are using the historic low interest rates and lower house values to their advantage by "buying up" to a bigger home. I have friends who are doing this (ask me why this is great idea). Other "empty nesters" are ready to downsize. Having to maintain a large family home that only two people occupy can be a lot of work and isn't very cost effective. Other reasons houses need to be sold are job relocation, loss of income, divorce, death of the owner, foreclosure, or a more timely reason, people are tired of the harsh snowy winters and are ready to move to a more temperate climate.
Whatever reason you have for selling your home the first question you need to ask yourself is "how motivated am I"? It takes a lot of work, patience and resolve to sell your home in today's market. If your just testing the market to "see what happens", your really wasting your time.
It's a buyers market out there. There are a lot more houses on the market than there are buyers so you have to be willing to spend some money and do some work to get your house ready for market. But what exactly does that entail? What do you have to do to get buyers to put your home on their "must see" list?
That's where I come in. Once you've resolved to sell your home call in a Realtor. If you live in Essex County NJ, that phone call should only go to one person...me. Don't do anything else. Resist the temptation to undertake a home renovation, and then show it to me, or another Realtor. Let me go through the house and work with you on what needs to be done so that your house can stand out from the competition. I can also advise you as to what repairs and renovations need or DON'T need to be done.
You may think that it's a great idea to have a full bath on the main floor of your house, but unless you have a bedroom near-by it's an unwarranted expense. I was once asked by a prospective seller to come evaluate their home. Their contractor had convinced them to turn the powder room off the dining room into a full bath and so, to keep their budget in tact, they forewent putting in a real granite counter top and instead put in a faux granite laminate one. A really poor decision and one they could have avoided if they spoke to me sooner. I can't imagine that shower getting much use, while a granite counter adds a great aesthetic to be enjoyed everyday. As well as something most buyers expect to see in today's market.
So how much money should you spend in preparing your home for the market?
As little as possible. There's a big difference between making minor and inexpensive "polishes" and "touch-ups" to your house, such as new kitchen pulls on cabinets and a fresh coat of neutral paint in the living room, and doing extensive and costly renovations, like installing a new kitchen.
As a Realtor familiar with your neighborhood, I can tell you what buyers' expectations will be and more importantly can go over the numbers with you. Knowing what your house will sell for, deducting all the expenses, understanding what repairs or renovations will cost and how they'll pay off, all leads to you maximizing your profit, managing your expectations and being happy on the day of the closing. Ultimately that's my real job, that's what I strive for, making you happy.
The Home Owners of the house below are doing it right. Once they realized they were selling they contacted me. They're doing a major update of the kitchen, painting the whole house and fixing what needs to be fixed. I was there every step of the way with them; going over the numbers, walking through with the contractor, helping them decide what upgrades needed to be done or not, based on buyers expectations and what list price the market would bear for this particular neighborhood.
If you're thinking that you'd like to put your home up for sale, or would like to know how much money you would make if you sell your home, please contact me. I'd love to come see your house and give you a free consultation.
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