Tips for Prospective Buyers and Sellers That Hold True No Matter What
Friday Sep 20th, 2019
No one can deny that buying or selling a home is a huge decision – one of the biggest of your life. If you’re a buyer, choosing the right house in the right location and at the right price can help you live your best life. If you’re selling, how you prep your home for sale can be a huge factor in maximizing profit potential. There are many hidden tips and tricks that every home buyer or seller should know to help ease the process. Here are some of our top tips, we hope they get you started on the right foot.
If You’re Selling:
- Work with a realtor you trust – Remember, properties will only sell for as much as the market can bear. Always consult the expert realtor on the current market so you’re confident in the price you list/offer.
- Keep your home pristine - Thinking of selling? How your home shows is very important, as a nicer home that is well-maintained will fly off the shelf a lot quicker. Keep up with your home’s appearance to not only ease the process of selling it, but to also enjoy it while you’re living in it.
- Be flexible with home showings – If you feel like showing your home is too much of an imposition, consider taking a trip away from your home this first weekend it’s on the market. Ideally, it is best to allow the potential buyer and their agent to check out the property at peace so they can truly see what you have to offer without interference.
- Insist on preofessional photography – Piggybacking on how your home shows, it’s essential to have beautiful photos of your home, whether you are displaying it on a brochure or online. Do your home justice by taking professional photographs that are rich in color and entice. Providing a virtual tour or video of your home doesn’t hurt either, and may lead to more showings if potential buyers likes what they see.
If You’re Buying:
- Buy sooner rather than later - If you’re able and willing to buy, don’t think twice. Unlike selling, there is never a wrong time to purchase a property. While the market fluctuates, nothing is ever certain, so grab the opportunity while you can! However, this advice only rings true if you are looking to purchase a house as a home to reside in. If it's simply an invesment, there may be better times to buy than others.
- Consider investing in pre-construction – A major advantage of taking this path is that all you need is the 5% – 20% down payment/deposit to begin the process of investing. You will be purchasing a home for yourself or your kids now and paying off your mortgage later. Your children can also aid in paying the mortgage in the coming 2 – 4 years, so invest in your future today.
- Look out for the safety of your children – Children are naturally adventurous, and it’s in their nature to explore. Because of this, there’s no such thing as an entirely child-proof home when young children are involved. But there are features you can look for that offer greater peace of mind, such as counters with rounded corners instead of sharp edges. For example, if you’re interested in a multi-story home, check for sturdy railings with narrow gaps between each picket that your child can’t get stuck in or fit between.
- Allocate a budget for maintenance – When you own your home, you are responsible for any broken refrigerators, clogged pipes, and anything else that needs upkeep. One rule to help you budget your expenses is the 1 Percent Rule. This rule states that at least 1% of your purchase price should be set aside annually to cover the cost of maintenance. Another rule to help you manage your budget is the Square Foot Rule. This rule suggests that you save a dollar for every square foot per year. If, for example, your home is 2,000 square feet, you should aim to budget $2,000 for maintenance costs. These rules are general tips that will help guide you on the right path. Other factors to consider that can impact the cost of maintenance are the age and condition of a property and the climate and location it resides in.
At the end of the day, whether you’re buying or selling, this process is about a lot more that just Real Estate alone. Part of our business in the industry is showing houses and negotiating deals, but it's essential to never lose touch of the emotional factor for our clients. We understand our clients all have needs and dreams, and our job is to help you attain them.
We hope this tips were helpful. If you have any suggestions for us, leave them in the comments below!