One of the most difficult parts of buying a second home is getting rid of the first one. Depending on where you live, the condition of the house, and the housing marketing, getting your house to sell could take longer than anticipated. Unless you’ve got enough money in your budget to balance two mortgages for a while, it becomes imperative for you to get your old home sold in a timely fashion. Thankfully, there are some tricks of the trade you might consider to speed up the process of selling your house.
Price it Right
Affordability is very important to home buyers. Not only will they need to be able to afford the mortgage, but they’ll also have to have enough in their budget to afford other living expenses. Many homeowners anxious to make a profit start with a high asking price which can deter buyers from wanting to view or purchase the home. Review comparable properties in the area and price your home accordingly. While you want to ask for enough to pay off your existing mortgage, you don’t want the price to be so high that buyers look the other way. A lower price can actually spark a bidding war which could get you well beyond your asking price.
Repairs and Upgrades
Most home buyers aren’t interested in moving into a residence where they’ll have to invest a lot of money into repairs and renovations from the beginning. You can increase interest in your property by completing repairs and upgrading outdated or underused areas of the home. Have a general contractor inspect the home for necessary repairs and potential upgrades to improve property value. This could include making the home more efficient, adding bedrooms, upgrading the kitchen, or repairing the heating and air conditioning. You can then take this list of projects and check out information like kitchen and bathroom upgrades or attic remodel cost to see if it’s in your best interest to complete.
Curb Appeal and Aesthetics
Outside of an affordable, safe, and functional home, what attracts buyers to a property is the curb appeal and aesthetics. Once you’ve taken care of the safety and integrity of the home, you can move onto things like adding curb appeal to attract the attention of passersby. Cutting the grass, adding shrubbery or flowers, and cleaning up the siding or repainting the brick and be all you need. As for the interior, try to focus on aesthetics including painting, and possibly staging the home so buyers can visualize themselves living in the residence.
If you focus on these three areas of selling your property, you’ll find a lot more interested people who want to purchase the property. Now all that’s left to do is find a local realtor to advertise your property for sale. Before long, you’ll have multiple offers and can move into your new residence in a lot faster.