Selling your home is both stressful and exciting; you’ll be making a good chunk of change, yes, but there’s a lot of work that goes into that sale and it may take a while to find the right buyer.
The most difficult part of home selling is making sure your profits are where you want them. Plus, depending on a few different factors, the sale of your home may qualify as a capital gain—and thus, taxable. At the very least, you will need a tax calculator to do the math, but it would be advisable to speak with a tax professional as there are a lot of rules and regulations that may or may not make the sale of your home a taxable event.
Whether you’re selling a home you’ve lived in for years or you’re flipping a house, you’ve invested in the home–you should get your money’s worth. There are a few ways to maximize your profits when you sell your house.
Read on to learn five home selling tips that will increase the money you make from selling your house.
1. Sell at the Right Time
We know what you’re thinking: “I want to sell my house fast!” That’s understandable, but depending on when you’re trying to sell, it may not be feasible.
The period you’re trying to sell in can make a huge difference; home sales fluctuate with the seasons; people are more likely to move in spring and summer than in winter, for instance.
2. Pick a Good Price
When you have a home for sale, it can be tempting to ask for a high price–after all, you want to make a decent amount of money, right? However, a high price can result in a much harder time selling your home.
Fewer people will look at pricier homes, and selling, in general, may take a bit longer; you might even have to lower the price to draw people in–but the price drop might make people worry that there’s a problem with the home.
3. Make Repairs
Sometimes, you have to spend money to make money. That’s the case when it comes to making home repairs–there are a few quick fixes you can make that will increase your home value at little cost to you.
When you sell your house, make sure everything is in working order–fix any damage to walls or ceilings, ensure your wiring is good, and so on; few people are interested in buying a fixer-upper.
4. Figure Out Fees
If you’re selling your home through a real estate agent, look over their details carefully. Be certain that you understand their fees; don’t make any assumptions.
Get an agent you can trust–interview a few options before settling on one.
5. Up Your Curb Appeal
One of the key aspects of home selling is curb appeal. You aren’t going to be able to sell your house if no one wants to approach it–you need to make it look beautiful and inviting.
Replacing siding and windows, adding a fresh coat of paint, fixing up the yard–all of these are effective and affordable. ways to draw attention to a home for sale.
Selling Your Home at the Right Price
When selling your home, you want to make enough money to justify the work you’ve put into the building. By following the advice above, you’ll improve your home value and earn a fair price on your house.
Are you looking for more real estate tips? Do you need to make some repairs around the house? Visit our home improvement blog for more advice!