Before selling your home, you need to know how much it is worth. The home value determines how your property sits on the market in comparison with other homes. It also helps you set an asking price, which is the starting point for all negotiations. Setting an asking price too low may mean you’re short-changed and get far less from your home than you deserve.
This should establish how critical a proper home valuation is, but how do you get the best one? Here are three pro tips that’ll mean your house is properly evaluated and you can list it for the best possible price:
Deal with any lingering repairs
If your home has some lingering repairs, it’s smart to do them before a valuation. Why? Because issues around your home will bring down the asking price and leave you with a lower figure to bargain with. It can also make your home harder to sell, so if you want to sell your house faster, deal with these repairs!
You give future owners less work to do – and there are fewer problems with your property – so the valuation will be more positive. Even something simple like a roof repair can add serious value to your home.
Get multiple expert opinions
It’s generally frowned upon to estimate the value of your home alone. You could do some online research and look at similar properties in the area, but this will never give a truly accurate reflection of what your property is worth. Instead,it would help if youuhadd the opinions of some experts.
Notice how we say “opinions” rather than “opinion.” That’s because you should get more than one person to appraise and evaluate your home. Contact local estate agents and see how each of them values your property. You’ll be surprised how different the figures can be. From here, you’ll want to go for the highest figure as it gives you the most bargaining power in the future.
Sell during the right market conditions
When an expert evaluates your home, many things are taken into consideration. Some of them you can’t change – like the location of your property, how many other similar properties exist in that area, etc. At the same time, some factors are changeable. We’ve spoken about repairs or home improvements – these are value factors that you can physically change to boost your home’s sale price.
But what about the market conditions? When your local real estate market has loads of homes for sale, it enters what’s known as a buyer’s market. Buyers are in high demand, meaning property prices take a downward turn. Ideally, you should aim to sell during a seller’s market – when there aren’t many properties for sale, but plenty of interest from buyers. Here, the seller has all the power as there’s loads of demand for properties, meaning prices go up. If you sell your homenowe, you’ll get the best valuation possible.
It’s crazy how a few things can alter the value of a home so drastically. Keep in mind that a good valuation is necessary to put you in the driving seat during selling negotiations. Starting with a high asking price means you’ve got more wiggle room and can still drop your offer while making a huge profit. So, always do your repairs before getting a valuation, ask for multiple opinions, and pick the right time to sell.