- Herman Cohen, Fort Lauderdale Florida
You like your home but just received a raise and your income will go up substantially.
You think of moving into a larger home in a nicer neighborhood but know you live in precarious and unpredictable economic times. Is this the right time to sell your home? Will you make a financial mistake if you sell in this economic environment? No one has a crystal ball, but there are several factors to consider before making a decision to sell. A mistake could cost you money.
The big question to answer for yourself is why you want to sell. It is a lifestyle question and does not depend upon the time of the year. If you find yourself in a buyer´s market, the seller is at a disadvantage. You want to be absolutely sure in your own mind the move makes sense. If you decide you really want to sell your home, then here are some things to keep in mind.
Conventional wisdom says the right time to sell your home is in the spring when there are the largest number of buyers. But that is also the time of the largest home inventory. So what about the winter? Good idea, perhaps, since it is a time of less competition with fewer houses on the market. But can you be sure? In the summer buyers may feel a sense of u r g e n c y , w i t h s c h o o l approaching, and in the fall empty nesters, not concerned about school opening dates, may be more motivated to buy. The bottom line: Sell your home when you truly want to move and don´t tie your moving decision to any season of the year.
Before selling, do your homework to get the best price for your home. Once you decide to sell your home, do your homework. Find out what comparable houses in your neighborhood are selling for. Calculate what they are selling for per square foot. That is a useful number to know as you evaluate the current market value of your home and other homes you are considering buying. Stage your home. You don´t need a professional to do this. You can do it yourself.
Make sure your home is spotlessly clean, especially your kitchen and bathrooms. Clean the carpets professionally. Paint the main areas of your home with a neutral color.
Get rid of the clutter. Pack away personal stuff like photos of family and personal knick-knacks.
Put away small appliances like toasters to make more clear counter space.
You want a clean, spacious look. Consider taking one piece of furniture out of each room so your home looks uncluttered.
The most important thing in today´s economy is price. Forget about what you paid for the house. The price of a home is determined by today´s market conditions, so don´t get stuck playing an old memory tape about how great the house is and how much it was worth when you bought it years ago. That is irrelevant. Price your home under market value to get the most buyer traffic and interest.
Now step outside and look at your house. Does your house have "curb appeal?" Is the lawn trimmed? Is the front door painted? Is there a plant near the main entrance? You don´t have a second chance to make a first impression, so make sure that the first impression is a great one. Good luck on selling your home when you want to sell it.
ASK GABE by Gabriel Palotas
HHR Manager, has more than 20 years of real estate experience with a proven record of productivity, quality and integrity.
(Lic. FL Real Estate Broker • Nat. Auctioneers Ass. NAA • Int. Consortium of Real Estate • ICRE Transnational Referral Cert.)