Most real estate brokers will tell you: overpricing your home from the moment you put it on sale is asking for trouble. You have so little to gain and so much to lose. Here are the reasons why.
A seller may be tempted to ask for an exaggerated price in case a buyer, too naive to realize it or too rich to afford wasting time, finishes by taking the bait. That is wishful thinking. The odds of that happening are slim. Very slim.
Perhaps the homeowner thinks, since there is no hurry, that he will patiently wait for his price, comfortably seated at home. A buyer will eventually come knocking. Wrong!
Spring is fast approaching. That means many buyers will be looking for their desired home. Sellers, on the other hand, will try to make their property look as alluring as possible. Where to start? With the exterior, of course.
Most sellers will instinctively renovate their home’s interior. However, the buyer’s first visual contact is with the exterior, either directly or through pictures on social media sites.
Most buyers will contact the seller or their real estate broker if they see a picture of a property they like. If the facade and landscaping are unattractive, the buyer may move to the next picture, unless the pictures inside are incredible. If the buyer is physically facing the house, he or she will keep on going and move on to the next property.[……]
Most people renovate their homes for more space or more comfort. Some also remodel their homes in order to sell their property more quickly while getting the desired price for it.
But you shouldn’t start renovating carelessly. Follow these guidelines.
It would be irresponsible to carry out overwhelming work in order to sell your home quickly. Disaster will probably strike. Some upgrades, worth a few hundreds or thousands of dollars, should do the trick.
Check every nook and cranny in your home to find any defects. Neglecting this step might give the future buyer the wrong impression. Imagine if he or she arrives with a building inspector? Omitting to inspect your home is not the best way to go, even if you end up selling your property for the desired price. If the future homeowner ends up dragging you into court for latent defects, not only will you see your profit melt away, but your quality of life will diminish.
Start by facing your home and put yourself in the buyer’s shoes. Is the frontage appealing? Is the front door impeccable? A neglected exterior usually implies a careless homeowner in the minds of future buyers.
Go outside and walk around your property and think of the things that would bother a buyer and try to address the problem. For example, you live in a noisy neighbourhood because of the traffic. Find out how much building a green wall or a solid wall would cost to reduce the noise.
We often forget them, but they can provide an important service. Why not resort to an architect when the time comes to do major renovations? Such as expanding a house.
Of course, an architect will increase the cost of the work, but keep in mind that, in most major renovations, your property will increase in value. So why not increase this value as much as possible? Especially if it involves adding space to a house.
You don’t have to call upon a renowned architect. A student fresh out of university will do just fine.
Don’t be afraid to seek knowledge elsewhere when you want to renovate a house. An architect is a professional who has this knowledge.