If the New Year has you and your family thinking about picking up and putting down roots somewhere else, you may be considering selling your home. The past year has seen historically low lending rates and a dearth of available houses on the market, making now a great time to sell in this true seller’s market. Whether you’re searching for bridge loans for real estate to help get you into your new home and you simply want to know what to expect in the selling process or you’re just weighing your options, understanding the realities of the 2021 market can be very helpful. As you repair items around the house, research North Coast Financial hard money loans, find a real estate agent to work with and scout possible new home locations, keep these home selling tips in mind.
Consider Buyers With a Range of Financing, But Wait for a Prime Offer
The economic tumult of 2020 has resulted in some interesting financial trends, especially in the real estate market. As a result, you may receive offers from buyers employing a range of different financing tools. Some may be working with private money lenders Los Angeles, some may be prepared with a traditional 20% down payment and a mortgage and others might even make full offers in cash. Due to the year’s unique circumstances, you may want to consult with your realtor and truly take all these types of offers into consideration. However, a word of caution – don’t take up the first offer you receive simply because you’re excited to move. In a market like this one, multiple offers are highly likely. You may want to hold out for a truly great offer, or make counter-offers and negotiate to get the price you want.
Invest in Repairs and Upgrades Before Listing the Home
Though it can mean extra work ahead of time, buyers are drawn to remodeled or upgraded homes, and putting in the work now could significantly increase your home’s real estate value. This goes double if your home is one of the older or more outdated ones in an otherwise well-regarded neighborhood. Even if you can’t afford expansive upgrades, just a few tweaks and repairs here and there can make a difference. For example, you can:
- Give each room a fresh coat of paint
- Have the carpets deep-cleaned
- Polish the floors
- Purchase some tasteful new home décor
Don’t forget that curb appeal can also add significant value to your home! Before showing the house to prospective buyers, consider mowing the lawn, spending some time landscaping, repainting the front door and repairing any cracks in the driveway.
2021 is a hot year to put your home on the market, given the low number of homes currently available compared to buyer demand, coupled with historically low mortgage rates. Whether you’re just debating moving or you’ve already decided to relocate your family and want to know what to expect, being up-to-date on these trends can help you navigate the home-selling process smoothly and help you get a good return on investment. When you finally put your home on the market, you can feel fully prepared!