Over the past couple of years, the housing market across the United States has been operating at all-time highs because employers are now embracing remote work, enabling employees to live in locations further away from the office. While demand for homes has risen, the supply of homes hasn’t kept pace, resulting in troves of buyers competing for the same limited inventory.
If you’re looking to take advantage of today’s hot housing market and sell your home fast, look no further than the tips below.
Boost your home’s curb appeal
First impressions are everything when it comes to selling property which is why it’s important to do what you can to spruce up the exterior of your home before putting it on the market. You can easily achieve this goal by taking simple steps such as purchasing a fresh doormat (typically $20), re-mulch your garden(s) (at an average cost of $5 a bag), and purchasing a garden hose spindle to neatly store your hose instead of leaving it strewn across your lawn.
Going beyond the basics outlined earlier, you can also boost curb appeal by changing up the look of your home’s exterior by replacing older windows with energy-efficient ones, adding shutters to get rid of “gutter space,” and investing in a new insulated garage door that looks great and can potentially reduce energy usage.
Avoid projects that don’t add value
While there’s no shortage of projects you can tackle to boost the value of your home, there are a few you should avoid as they don’t add much value for buyers. For example, converting a garage to an in-law suite or home office may fit your immediate needs, however these conversions can cost around $10,000 and limit the attractiveness of your home as many home buyers are looking for a fully-functional garage in their home.
Solar panels are another addition that can be great at reducing your energy bill, however they only add value to your home if you own them outright. Since leased solar panels belong to the company that provides them, they don’t increase the home’s value at all. Even if you own your panels outright, while they can contribute to your home’s value, the equipment depreciates as much as 9% annually.
The final type of project potentially worth avoiding is adding a swimming pool to your home. While the pandemic has increased the attractiveness of homes with swimming pools, they require significant upkeep, which means they aren’t ideal for all markets.
Consult with a real estate agent
Selling a home is one of the most complex projects anyone can take on in their life, which is why homeowners shouldn’t try selling homes on their own. It’s easy to find a real estate agent who can guide you through the entire home selling process.
When you’re interviewing realtors to work with, you’ll want to ask questions to gauge how well the agent knows your area, how often they’ll be in touch with updates, and how they typically market properties. Those are the fundamental things to keep in mind.