5 Top tips to sell your house quickly and make it more valuable

Author: Hayward Moon

We all want to get the best possible price for our house when we put it on the market, so our team of Property Lawyers have put together their favourite tips and tricks that could hold the key to selling your home quickly and at a good price.

1. Understand your local market

When there are more homes for sale than there are buyers, it typically brings prices down as sellers compete for the few buyers available – known as a ‘buyers’ market’. However, when there’s more buyers than there are homes for sale, it tends to push prices up as buyers compete for fewer homes. – known as a ‘sellers’ market’.

A good way to determine whether you’re in a ‘buyers’ or ‘sellers’ market is to look at the similar homes available in your area. If similar homes to yours are selling quickly, then it can suggest a strong demand.

2. Choose the right time to sell

Choosing the right time to sell is crucial. Springtime typically is the season that has the most buyers because many people want to move during the warmer months when the kids are out of school.

To sell your home for the most money, it’s a good idea to sell at a time when you have enough equity in your home to pay off your current mortgage, costs of selling, and costs of moving. Otherwise, you will need to cover many of these expenses out of your own pocket, which can be extremely expensive.

3. Set the right price

If you overvalue your home then you run the risk of having to drop the price, this then means taking longer to sell, or making it harder for buyers to discover your listing. Over time, buyers can become uncertain of homes when they see that the list price is continually declining, as this typically suggests to the buyer that there is something wrong with the home or that the seller has impractical anticipations. This then can limit your negotiating power because buyers might observe the trend as a sign your home should be reduced.

4. Consider minor renovations

Small upgrades to your home could increase the market value more than you may expect.. For example, adding wooden floors can increase the value for more expensive homes, whilst a kitchen remodel or bathroom upgrade can increase the value for smaller starter homes… You don’t have to spend a fortune either, so could be a sensible move if you are thinking of selling!

5. Negotiate the best offer not just the highest offer

It’s tempting to seize the maximum offer that you receive for your home, particularly if it’s more than your asking price. But don’t jump without studying the terms and small print. Most offers include contingencies, which are a set of terms in your contract that allow either the buyer or seller to cancel the agreement if those terms aren’t met.

If you decide now is the right time to sell next home, please contact us to speak to an expert – we’re always happy to help!