Home Selling Advice
Selling your home is serious business. Between fixing it up and getting it sold, you’ve got a lot of decisions to make. And you’re bound to have questions along the way.
Well, you’re not alone.
Dave’s fielded lots of questions from home sellers like you over the years. Here are just a few that can help you make your next home deal a smart one.
I found the perfect place, but my current home hasn’t sold yet. Is it okay to buy a new one?
Before you make a move, determine how your mortgage stacks up. If 40–50% of your income goes to your house payment, it’s hurting your ability to plow through your debt snowball. In that case, selling your home is a smart idea. Look for a place that enables you to cut your mortgage payment to no more than 25% of your monthly take-home pay.
If you have a reasonable mortgage payment and really love your home, then there’s no need to make a drastic move. Stay put and look for other ways to cut your expenses. Eating rice and beans a few more nights a week might be all you need to get out of debt more quickly.
Is it better to spend money fixing my home up before listing it or to sell it as is for a lower price?
There’s really no right or wrong answer. Both options take time and emotional energy. If you can’t foot the fix-it bill without going into debt, then selling it as is may be the way to go.
But pros will tell you show-ready homes always sell better. That’s because buyers don’t have to strain their imaginations to look past the flaws. In most cases, you’ll get more than you put into the home. For instance, let’s say you spend $10,000 on fresh paint, new flooring and a deep clean inside and out. When it’s all said and done, you could see a $20,000 boost to your sale price.
Your best bet is to talk to a real estate agent you trust. A true pro will walk you through your options so you can make the decision that’s right for you and your budget.
I’d like to save money by selling my home myself. Is this a good idea?
Selling solo may seem like a great way to save money. But according to the National Association of Realtors, the typical home sold by an agent in 2016 fetched $245,000. That’s $60,000 more than the typical “For Sale by Owner” home sold for!
Working with an agent provides two big benefits:
- Exposure: A real estate agent exposes your home to thousands of potential buyers through the Multiple Listing Service. No matter how many flyers you post in coffee shops, you’ll never have that kind of reach.
- Expertise: Let’s do a simple comparison. How many homes have you sold in your life? Well, a good agent likely closed that many transactions last week! That kind of experience will help you avoid costly errors and get the most money with the least hassle.
Even Dave, a seasoned real estate investor, knows the value of a pro when it comes to selling a home. Look for an agent who has your best interests at heart and treats you like a partner, not a transaction.
Get Advice You Can Trust
Let’s be honest. If you’re reading this article, it’s a pretty good sign you don’t have all the answers. And that’s okay! That’s where an expert comes in!