If you have been considering selling your home, now is a great time to maximize your return on investment. Your home is your most personal asset, so timing when to sell it is important. Luxury homes are fetching record prices, and the average closing times are the lowest they have been in recent years. According to a recent article on CNN
, home sales hit an all-time high last year and have remained strong ever since. This is especially true for Rye
real estate, where high-demand homes see average listing prices up to $2 million and beyond. But before you commit to selling, there are a few essential facts you will want to know.
Making the decision to sell your home
Understanding why you want to sell your home can help set expectations about what you want to see happen. Ask yourself these questions when determining how you want your home-selling process to go:
Do I need to sell my home relatively quickly to prepare for a move?
What are the local market conditions? Is it favorable for sellers or buyers?
Do I need assistance in purchasing a new home?
Are there any significant renovations I need to complete before listing my home?
Is there a specific range I would like to list my home for? If so, have I discussed this with my real estate agent?
Market conditions should be a factor in deciding when to sell. Record sales prices and low closing times can certainly be a good sign that the timing is right. Rye real estate is a competitive market, and homeowners will want to evaluate their options carefully.
Preparing your home for sale
The first step after deciding to sell your home is to prepare it for viewing. With a little effort and careful planning, you can turn your home into a showroom experience that buyers will surely fall in love with.
De-personalizing your home
Take some time to review your home and pack away any personal items you have on display. This can include photographs, collectibles, antiques, and trinkets. Remove anything hanging from walls, such as portraits, pictures, and artwork. Your goal is to create as much clean, empty space as possible. This encourages your buyer to envision how they would fill that space with their own belongings.
Once any clutter and personal items are removed, it's time to start the process of cleaning. Hiring a cleaning professional is a good investment to ensure your carpets and flooring are as clean as possible. Walls should be freshly painted, and closets should be empty. Buyers are always looking for how much storage space a home will have, so this is a good area to focus on.
Now that your interior looks top-notch, it is important not to forget about your home’s exterior. An unsightly exterior can cast a shadow on the beauty of your home. Hiring a professional landscaper is another excellent investment to ensure your lawn, trees, and grounds look their very best. Also, don’t forget about other problems, such as chipped exterior paint, cracked driveways, and clogged gutters. Making minor repairs like these can improve your home's appearance and create a positive first impression for any buyer who comes to visit.
Tips for pricing your home
Pricing your home correctly is extremely important when listing your home in a competitive market. Price it too high, and you may turn away potential buyers. Too low, and you might not get the best return on your investment. If you haven’t started working with a realtor, this might be a good time to consider hiring one. An experienced realtor can give expert recommendations based on current market conditions and the value of recent home sales in your area.
Accepting an offer of sale
Once you receive an offer you would like to accept, you will likely feel a sense of relief. Congratulations! You are one step closer to a sale, but more is still to come. It will be helpful to be familiar with the closing process so you know what to expect.
Your buyer will likely want to schedule a thorough inspection of your home as soon as possible. A typical home inspection will include areas such as electrical, plumbing, septic systems, attics, basements, and crawl spaces.
Appraisals will be required in order for your buyer to get approved for a mortgage. A qualified appraiser will perform an in-person inspection and research similar homes on the market to provide an estimate of what your home is worth. The borrower is typically responsible for the appraisal fee.
A walkthrough with the buyer is done a few days before closing after the property has been vacated. Walkthroughs are done to ensure that any agreed-upon repairs or fixes have been completed and that the property is ready for the new resident to move in.
The closing date is determined based on what is convenient for the buyer, seller, and any agents and attorneys involved. During the closing, both parties will sign contracts, and the deed of ownership will be transferred to the buyer.
Finding the right agent for you
The process of selling your home can feel daunting, especially for first-time sellers. A good realtor can help identify your needs, navigate the market, match you with your ideal buyer, and get a top-dollar price for your home. This makes choosing a realtor one of the most important decisions you can make when selling your home. The market can be a confusing obstacle to navigate, and Rye real estate is no exception. If you want to sell your home, please consider working with local agent Lisa DeFonce
. Lisa’s extensive experience buying and selling Rye real estate, top-notch communications and negotiation skills, dedication to client satisfaction, and attention to detail make her an invaluable asset when selling your home. Contact her today
to get started!