Spring is almost upon us, and that heralds the start of the real estate market prime selling season.
Many owners watching the market over the fall and winter months will now be preparing their homes for sale, believing mortgage cost cuts are just around the corner.
The market is expected to slowly return to more usual behaviors, with an increasing number of owners prepared to put their properties on the market.
Their reluctance in the past 18 months has stemmed from the prospect of renegotiating their mortgage if they sold and needed finance for the next purchase, which would attract mortgage interest rates of 6.5% to 7.5%.
But with the Federal Reserve predicting rate cuts by the summer to stimulate the economy, buyers should take heart that their choice of properties is about to expand.
For sellers, now is the time to prepare your home for a spring sale, and these tips will help you be ready.
Hire an agent
If you want to catch the spring wave of buyers, then start talking to agents now. Select someone who knows the area and has experience selling your style of property. They should demonstrate a good track record of successful negotiations for sellers.
Make a prep plan
You must double down on preparing your home for sale. But don’t rush this process because it will add substantial value to the final purchase price. If you can’t get everything done before the end of spring, it won’t be the end of the world. Summer is also a popular time to sell.
First impression
It’s vital you spend time making the exterior appear clean, tidy and inviting. Peeling paint, dead plants in the garden and garbage on the lawn will lose you buyers and drag down the price.
Deep clean
If you don’t relish dedicating elbow grease to this essential task, hire a professional company to do the job. They’ll probably do a better job and finish the task faster than you would.
Stagecraft
It’s becoming increasingly popular to stage a home. This means you move most, if not all, of your furniture out of the apartment or house, and you hire a professional interior designer to rent furniture that will give the best impression of your home.