6 ways you can make more money when selling your home

For most people, a home is their largest and most valuable asset. Doing everything you can to make the most money when you sell your home is especially important following years of diligent homeownership and managing associated costs and payments.

Getting ready to sell your home can be a big undertaking, especially if you’ve never sold a home before. However, selling a home doesn’t have to be a lengthy, expensive endeavour.

Here are six tips to help you fetch a higher return on your largest investment.

Determine the best time to list your home

Listing your home at the right time can help you maximize the value of the sale. Typically, seasons affect real estate activity, with the winter months being considered low season because of the decline in available listings, accompanied by low demand from home buyers. However, since the COVID-19 pandemic, the way we buy and sell homes has changed. Even when there is a low supply of homes available for sale, demand remains high, and this results in home prices at all-time highs. This trend puts home sellers in a seller’s market, putting you at an advantage – meaning you don’t necessarily have to wait for a certain season to fetch top dollar for your home.

Find and work with the right listing real estate agent

Work with an experienced and knowledgeable real estate agent who has a history of successfully selling homes — someone you can trust to guide you through the process of selling your home. A good listing agent will understand the local housing market and research comparable properties in your area and recommend a competitive asking price. A realtor will work with you to determine the best price to generate more exposure for your listing and motivate home buyers to view your home. An agent will also be an asset when navigating the ins and outs of the selling process, make home improvement recommendations and suggestions regarding home staging to help you sell faster and for more money.

Make profitable home improvements to help you sell for more money

When it comes to getting your home ready for the market, there are many small, budget-friendly home improvement projects you can complete prior to listing to make a great first impression. A complex, expensive renovation might not necessarily be the right approach. An agent will bring expertise and help you decide whether a project is worth your investment of time and money. Invest in things that matter such as repairs to broken items – especially the eye-catching ones, patch any holes, add a fresh coat of paint, update flooring and enhance the curb appeal of your home. Improvements to the kitchen, main bedroom and bathrooms generally show the greatest return on investment. Consider getting a home inspection before listing and fix items the home inspector finds. A home buyer will most likely want their own inspection and ignoring important repairs could turn home buyers off to purchasing. Making necessary repairs in advance can also expedite the selling process.

Declutter and organize your home

When it comes to getting your home ready for the market, simple steps can go a long way in refreshing its appearance – this means deep cleaning, decluttering and organizing throughout your home. Start by minimizing clutter, including closets, cabinets and drawers. The goal is to clear out each room, so the flow and square footage is highlighted. Also, remove personal items such as photos and valuable items to make the home more visually appealing to home buyers. Lastly, make sure your home is clean from top to bottom including inside closets and pantries, and spotless, clear windows to add natural light. An organized and clean home will make a great first impression.

Enhance your listing with staging, photography and a virtual tour

Staging, high-quality professional photography and a virtual tour are key components of a winning marketing strategy. Home staging can show off your home’s best features with the right décor and furniture to make it feel welcoming to home buyers and help them visualize themselves in a move-in ready home.

Home buyers are now searching online for homes – a whopping 97%. Photography and virtual tours bring homes to life online and are very useful among home buyers. Listings with 3D tours sold up to nine percent higher and closed up to 31% faster. Many real estate agents offer these services complimentary as part of their listing services.

Consider offer price and terms and prepare to negotiate

An experienced and knowledgeable real estate agent will guide you through the offer process and advise when to negotiate. Consider all terms of an offer, not just the price, to get the best deal. The highest priced offer could have many contingencies and those could allow the home buyer to back out of the deal or impact the timeline when the deal will close. Know the price and terms you’ll accept ahead of time and work with your agent to determine which negotiating tactics could help in your case.

With these tips in place, you can begin your home selling journey with confidence you’ll get the best price for your home. Connect with the perfect listing agent to sell your home.