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Home Selling Tips

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Home Selling Tips

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Home Selling Tips to Get You Started

Home sellers in Greater Boston are well-positioned to maximize the value of their homes. The needs of buyers and where they live have shifted, causing people to seek out homes with offices, yards, workout rooms, and more space in general. As people require more than their current homes can provide, demand has increased yet inventory has remained relatively low, placing us squarely in a seller’s market.

The opportunity for home sellers to list their homes in this market is exciting, but preparation is still an important key to success. With a few helpful tips and a strong real estate team by your side, selling your home in the Greater Boston area can be a smooth, seamless process that can exceed your expectations.

Here are a few tips to get you started.

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1Be Prepared

Knowledge is power and contacting an experienced real estate team to navigate the complex nuances of selling your home is a critical advantage in a competitive market. A real estate professional can provide a comprehensive Current Market Analysis (CMA) to give insight on the value of your home, potential expenses, timeline for selling as well as a complete overview of the market conditions. Once you have your team in place, you’re off to the races.

2Get Your Home In Order

This can be one of the most overwhelming steps. For example, cleaning out the clutter, making those fixes to the roof, plumbing, walls that you’ve been meaning to paint for years. Don’t forget about the yard so something visually distracting won’t keep people from appreciating what you're trying to sell. A real estate professional should be able to guide you through these steps and provide you the resources needed to check each item off your list with ease.

3Buying & Selling Simultaneously

This is an important one, especially in today’s competitive market. The tricky business of selling your current home before you can buy the next one can be challenging. Getting your finances in order is a must because you want to be a strong contender financially in the eyes of the seller. No one wants an offer rescinded last minute because the buyers realized it is more than they can afford. On the flip side, if you have your house sold and know what you can afford to buy, then you can plan accordingly and go out and make an offer on the home you want.

4Short Term Rentals or Financing Options

This is not always a preferred choice, but it may be the best alternative because it gives you flexibility. If you need to sell your home first, it can be difficult to sell, buy and move in on the same day. It’s possible the buyer of your home may let you to stay for a short period of time, but it's better to have the safety net in place, just in case. You may also consider a contingency clause or bridge loan to accommodate your situation.

5It’s all about price

Yes, your goal is to get the most amount of money for your home. However, sellers often believe their home should price higher than the market will allow. Unfortunately, this can spiral downward in the form of price reductions, frustration, and can result in the home selling for less than it could (or should) have. A skilled real estate professional has the insight and knowledge to price your home effectively for a successful sale. Even in a competitive market like we are in now, a properly priced home will draw out multiple offers and achieve the best possible outcome, which should result in you receiving the best price for your home.

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Downsizing: Thinking Big About Living Small

Downsizing is so much more than moving from a big house to a smaller one. For many people, the thought of downsizing can invoke equal parts dread and delight. Dread of cleaning out attics, basements, and closets, delight of being freed from the burdens of never-ending maintenance and big mortgages. The good news is, the dread part is a short-term hurdle while the delight part is indefinite.

Having plan in place takes the stress out of the downsizing process, and we’ve gathered a few ideas to get you thinking big about living small.

See if downsizing if right for you

Family meeting

Discuss the idea of downsizing with your family and friends, as well as your advisors including attorneys and accountants. Understand your options and the potential changes to your estate planning and tax implications.

Rely on a professional to get you started

Contact a trusted real estate professional to prepare a Custom Market Analysis (CMA) on your home. Someone who is a local expert will give you insight on the true value of your home (not just what Zillow tells you), potential expenses, the best timeline as well as a comprehensive overview of the market conditions.

Timing is everything

Change is hard, procrastinating is easy. Unfortunately, many people are ultimately forced to move for either health or other personal reasons. It is important to be proactive and understanding the time it can take to downsize – which can be up to two years depending on certain physical, financial and emotional situations.

Think about your next move

Start your research early in the process. Understand why you are moving - is the maintenance and care of the house too much? If that's the case you may want something with little or no maintenance, such as a condo or townhouse. Do you need everything on one level? Decide if you might need a bedroom and bathroom on the main level. Whatever your lifestyle and decision is; take your time and consider all your options.

Cleaning out

Packing up a lifetime of memories is often the hardest part of downsizing. A professional stager and organizer are invaluable in helping you prepare your home for sale, as well as knowing where you can donate certain items or the proper place to discard them.

Think about the future

It is an exciting time, and once you have settled into your new home you can begin enjoying new experiences and creating years of happy memories.

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