What to Know When Selling Your Home this Summer
Did you know that, in addition to the spring season, June and July are just as hot when it comes to the real estate market? This of course means that if you are selling your home this summer, you won’t be the only sellers with the same idea this season. Here are some key things to know if you’re taking advantage of selling your home this summer.
You won’t have trouble finding buyers.
Thanks to the Federal Reserve, mortgage rates will remain at 2.5 percent throughout 2019. Since the mortgage rates are not increasing anytime soon, buyers are more inclined to shop for their homes now while the rates are still low. Plus, buyers with children in grade school are likely to be looking for a home now while the kids are on summer break.
More buyers lead to more competition.
Because sellers know that selling their homes this summer is a popular time to reel in buyers, you can expect increased competition as everyone’s drawing from the same pool of buyers. While you’re getting your home ready to be listed, make sure that you pay attention to your competition and what they have to offer. Perhaps you might repaint your home or make some ‘smart’ home improvements to keep up with other sellers in your neighborhood.
Don’t skimp on your landscaping.
Selling your home this summer isn’t solely beneficial because the market is blooming with buyers, but your landscaping can reflect this peak season is well. When preparing to sell, this is the time of year to let your home shine in full bloom! Make every effort to clean up your landscaping, trim back the bushes, and plant new flowers. All of your hard work will pay off as you capture your listing photos and impress buyers at open house.
Stage your home to sell.
Now that you’ve spruced up your curb appeal, it’s time to get your interior looking spick-and-span as well. Staging your home to sell this summer is crucial to impress buyers and show off your space. The staging process starts with decluttering your home. You might simplify your built-in bookshelves and clear out your closets so that these areas can appear more spacious to buyers. Rearranging or even minimizing the furniture in your home is another trick to maximize your square footage. A home crowded with furniture or other belongings could make the buyer feel your home’s square footage is not ample.
Make improvements where necessary.
The fact of the matter is that you won’t always receive a high return on your investment if you dramatically upgrade your kitchen or bathroom. Look to home comparables and other homes on the market to see what they’ve done to improve their homes in order to decide whether or not you should dip into your savings to renovate or put your home on the market as is. You might even be able to get away with more minor improvements that make a big difference, such as painting your home in a neutral color, power washing your driveway or deck or adding some new tile in the kitchen. Assess what needs to be done and if you can accomplish this on your own or will need the help of a professional.