There’s plenty of advice that can be given when it comes to selling your home, but it’s extremely easy to get some bad guidance that makes selling your home more difficult than it needs to be. In order to reduce the possibility that you go down that bad advice rabbithole, let’s look at 4 common myths about selling your house in Flemington.
Renovations Are Key
A large misconception is that totally overhauling a room with a massive renovation is going to lead to crazy high offers.
What it comes down to is that, in most cases, a renovation is unlikely to pay for itself. This is commonly referred to as return on investment, or ROI.
If you’re looking to renovate your home strictly for ROI, you’re best off doing smaller projects, such as repairing your walls and repainting, replacing old lighting fixtures, or switching out worn kitchen and bathroom cabinet hardware.
Worst of all, installing a deck or porch is probably not going to give your home the curb appeal bump that leads to higher offers from buyers.
At the end of the day, doing a large room renovation may make that one room look spectacular, but it isn’t something that should be done exclusively to get higher offers when selling your house in Flemington.
Set Your Asking Price High
For some sellers, the common sense way of pricing their home means shooting for the stars because offers will come in lower than the asking price. This seems like a very simple answer to what can be a much more complicated scenario.
Choosing a starting asking price can be a little intimidating because you want to try to hit that sweet spot where you’re getting as much as you can for your home while remaining competitive on the local market. Some owners try using the estimates provided by online real estate listing websites, but this is almost always a terrible idea.
The best way to set your initial asking price is to look at the final closing prices of similar homes in your area over the last few years. This will give you a clearer picture of what you can expect buyers to spend, and then adjust based on how your local market is doing and the condition of your property.
Take the Highest Offer
As offers start coming in, it can become a bit overwhelming trying to understand everything that is going on.
Each offer consists of more than just a price, and you want to make sure you factor all of its pieces in when deciding which offer is best for you. Some offers may come with contingencies, such as inspections or repairs, and each of these additional stipulations will ultimately affect how much that offer is truly worth once the dust settles.
An offer with a lower price but no contingencies could easily end up netting you more money than a higher offer with a laundry list of repairs and inspections, making that lower offer more profitable when selling your house in Flemington.
FSBO Is Cheaper and Easy
Finally, some sellers fail to see the value of hiring a qualified and experienced real estate professional to represent them in the sale of their home.
Selling your home on your own means handling every aspect of the home sale, including scheduling showings and open houses, detailed paperwork, pricing appropriately, marketing, and more. Not only does an agent take care of these things for you, but they do them with the market knowledge and experience to do a much better job than you probably would on your own.
Meeting with multiple agents gives you the opportunity to discover which one has your best interests in mind and would best represent you. Having that agent in your corner will be nothing but beneficial all the way through closing.
Professional Assistance When Selling Your House in Flemington
If you’re thinking of selling your house in Flemington and want professional help in the process, contact us today at 908-448-2770!