How to get the Highest Price when Selling Your Home
If you’re in the process of selling your home, it goes without saying that you want to get top dollar. While there are certain actions you can take to improve buyer perception and garner offers closest to your asking price, it’s also important to understand how an appraiser determines the value of your home and what the actual highest price is that the market can bear.
Determining Your Home’s Value
First, the value of your home is determined by an appraisal, and appraisers use very straightforward guidelines when valuing a house.
They look at basic factors like square footage, lot size, and number of rooms. Then, they drill down and assess the quality of construction and materials, the age and condition of vital systems like the roof and windows, and whether there are any upgraded finishes. For example, a kitchen that has been remodeled to include granite countertops and custom cabinets will be worth more than the same kitchen with laminate counters and out-of-the-box cabinets.
What an appraiser does NOT factor into value are your efforts at presenting a tidy house that is professionally staged with expensive furniture and artwork.
So while it’s probably not realistic to build a home addition if you’re planning to sell in the near future, updating some key rooms – like the kitchen and bathrooms – with high-end materials can allow you to ask a higher price for your home. Just keep in mind the ROI on remodeling projects and choose ones that will not only help your home appraise for more, but that buyers will perceive as valuable.
Enhancing Your Home’s Market Appeal
Just because your home appraises for a certain amount does not mean buyers are willing to pay it. Market appeal, how buyers perceive your home, is the true key to getting the highest price for your home.
This is where upkeep and cleanliness, colors, furniture, artwork and staging DO make a difference. You want prospective buyers to feel a connection as they walk through your home. They need to be able to envision themselves living there. Often, this means toning down personalized décor and hiring a professional stager to assess your home from an unbiased perspective and make it inviting to your target buyers.
This is also the time to fix any minor issues – cosmetic or functional – that buyers could perceive as negative. While nail holes in the wall from old pictures wouldn’t have affected your appraisal, buyers could view them as extra work they would have to do upon moving in. Same with dirty carpets or scuffed wood floors. Spending a little money upfront for minor repairs increases your market appeal and gets your home that much closer to being move-in ready – and that’s something buyers are willing to pay for.
Partnering with the Right Listing Agent
It doesn’t matter how pristine your home is, if you don’t have an experienced and reputable real estate agent listing it, your buyers won’t even see it.
Choosing a listing agent is a crucial step in selling your home. Ask for referrals from friends and family who have had success, and even neighbors to find an agent with experience in your specific community.
Don’t hesitate to ask prospective agents for samples of their marketing plans, how they market your home, whether they use professional photography, and whether they network with other local agencies to actively seek our potential buyers for your home.
Trust The Link Team to Help You get Top Dollar on Your Home
If you’re selling your Southwest Florida home, Nina Link is the listing agent you can count on to help you get the highest price possible. With more than 20 years’ experience, the Link Team knows how to market your home, attract the right buyers, and get you top dollar. Contact us at (239) 357-5058 for a free consultation to see if we’re the right agency for you!