Selling a new home versus an older home has it own set of challenges. Normally with older homes owners need to spend time and money making minor to moderate repairs before putting the home on the market. Sporadically, there are major repairs that need to be addressed before this can be done or there needs to be some concession in price. With newer homes this is unusual. Things are usually still in fine condition; paint is new, the carpet is not worn, and things aren't falling apart. When selling your new home your efforts will need to be focused elsewhere.
Determine Minimum Selling Price
If you are selling a new home then chances are something unanticipated has happened. Most families stay in a home for a long period of time before selling so they build equity and pay down the mortgage. Real estate is a wonderful investment because typically over time its worth appreciates. Unfortunately if the home is new then it is likely that not much equity has built up while still having a high mortgage balance. No homeowner wants to experience a loss when selling their home so in cases like this it is important to determine what your minimum selling price is. Take into account mortgage payoff, closing costs, realtor commission, and any other fees that are tied to selling. Depending on the real estate market you may not make a bundle on the deal but at least you won't lose your shirt.
Preparing Your Home
Even though your home is in good conditions don't neglect the small stuff. Take the time to thoroughly clean the inside of your home and remove as much clutter and debris as possible. Do this on the exterior as well, trim and mow the lawn and cut back any over grown bushes and shrubs. Make your property look good, inside and out. Since you may not have the flexibility in negotiating price you are going to have to do everything you can to get the most out of it. The price, condition, and amenities are going to be the focus of selling your home.
What Are Your Homes Strengths
Sit down and put together a list of your homes strengths and amenities, such as; hardwood floors, granite counter tops, new furnace, new roof, and so on. Take pictures and include the information on a flyer. When selling a new home you can expect to get more money because it is in good condition but if your profit/loss margin is narrow you need to emphasize the strengths your home has to offer. Go beyond the home itself and look at the schools and neighborhood. Anything that can be a selling point should be considered and find resourceful ways to present this information to buyers.
Develop a Marketing Plan
As you draw closer to putting your home on the market you may consider using a local real estate agent. In this case he or she will take care of the marketing for you but if by chance you can't afford to utilize their services you will be forced to market the home yourself. To get started, place a "for sale" sign in your yard along with a color flyer with pictures and high points of your home. Contact the local newspaper and take out an ad. Post your listing on real estate sites on the internet and lastly, tell as many people as you know that your home is up for sale.
Hold an open house as often as you can and expect potential buyers to bring representation so be prepared to work with at least one agent. Stage your home so it takes on a warm cozy feel and make your home appear spacious.
Yes, there are hurdles to overcome when selling a new home but it is not by any means impossible. Know what to expect and plan accordingly and you will be able to get through this while getting the best price possible for your home.
Jason is a life long resident of Boise, Idaho and provides real estate information on the Boise Idaho Real Estate Market for buyers, sellers, and investors. Visit BoiseRealEstateInfo.net to get started.
Determine Minimum Selling Price
If you are selling a new home then chances are something unanticipated has happened. Most families stay in a home for a long period of time before selling so they build equity and pay down the mortgage. Real estate is a wonderful investment because typically over time its worth appreciates. Unfortunately if the home is new then it is likely that not much equity has built up while still having a high mortgage balance. No homeowner wants to experience a loss when selling their home so in cases like this it is important to determine what your minimum selling price is. Take into account mortgage payoff, closing costs, realtor commission, and any other fees that are tied to selling. Depending on the real estate market you may not make a bundle on the deal but at least you won't lose your shirt.
Preparing Your Home
Even though your home is in good conditions don't neglect the small stuff. Take the time to thoroughly clean the inside of your home and remove as much clutter and debris as possible. Do this on the exterior as well, trim and mow the lawn and cut back any over grown bushes and shrubs. Make your property look good, inside and out. Since you may not have the flexibility in negotiating price you are going to have to do everything you can to get the most out of it. The price, condition, and amenities are going to be the focus of selling your home.
What Are Your Homes Strengths
Sit down and put together a list of your homes strengths and amenities, such as; hardwood floors, granite counter tops, new furnace, new roof, and so on. Take pictures and include the information on a flyer. When selling a new home you can expect to get more money because it is in good condition but if your profit/loss margin is narrow you need to emphasize the strengths your home has to offer. Go beyond the home itself and look at the schools and neighborhood. Anything that can be a selling point should be considered and find resourceful ways to present this information to buyers.
Develop a Marketing Plan
As you draw closer to putting your home on the market you may consider using a local real estate agent. In this case he or she will take care of the marketing for you but if by chance you can't afford to utilize their services you will be forced to market the home yourself. To get started, place a "for sale" sign in your yard along with a color flyer with pictures and high points of your home. Contact the local newspaper and take out an ad. Post your listing on real estate sites on the internet and lastly, tell as many people as you know that your home is up for sale.
Hold an open house as often as you can and expect potential buyers to bring representation so be prepared to work with at least one agent. Stage your home so it takes on a warm cozy feel and make your home appear spacious.
Yes, there are hurdles to overcome when selling a new home but it is not by any means impossible. Know what to expect and plan accordingly and you will be able to get through this while getting the best price possible for your home.
Jason is a life long resident of Boise, Idaho and provides real estate information on the Boise Idaho Real Estate Market for buyers, sellers, and investors. Visit BoiseRealEstateInfo.net to get started.
Thanks for the great info share.
BalasHapusHome Interior Designers Company in Kerala