New Year Resolutions For Selling Your Home in 2021
Everyone is excited to put 2020 behind them. This year began with devastating fires in Australian and was characterized by a global pandemic that has killed over 330,000 in the United States. There were also protests throughout the nation and an appearance by murder hornets. 2020 was so jarring that anytime something bad happens in life people just say, “2020!” That’s not to say that everything was bad. Silver linings were around if you looked hard enough. Nobody enjoyed being locked down to stop the spread of the virus, but it provided a chance to spend more time with our families. Same is true with real estate. While many sectors of the economy were hurt, home sales and prices soared. No matter what you think of 2020, it’s now time to focus on 2021. With that, we have our top new year resolutions to sell your home in 2021.
Why 2021 Might Is a Good Year to Sell Your Home
2020 was challenging, but the real estate market was a bright spot. Millions of Americans bought new homes to take advantage of historically low mortgage rates. This huge demand for new homes caused home prices to increase at the fastest rate in over six years. Demand to buy houses is so high and available inventory is so low that most home buyers are finding themselves in bidding wars. This is especially true when buying homes in Massachusetts. This trend should continue into the new year. Mortgage rates will remain low into January and possibly through the first half of 2021. As long as there are low mortgage rates, there will be potential buyers looking to take advantage and buy a new home. However, there is no telling how long this trend will last.
When we turn the corner on the pandemic and the economy gets rolling again, there is a chance these mortgage rates will increase. When that happens, demand for new homes will taper off. That is why it is the perfect time to consider selling your home. It might be tempting to try and time the peak of the market. However, that strategy always comes with the risk of missing out and having your home sitting for sale longer than you expected. If you have considered putting your house on the market, the beginning of 2021 might be the perfect time. The team at Streamline Realty wants to help you out with some new year resolutions to help you sell your home above asking price.
Get a Pre-Sale Home Inspection
If selling your home is on your 2021 to-do list, then you need to make sure that it is in perfect working order. This means it is time to schedule a pre-sale home inspection. Home inspections are important because it lets you know if there is anything wrong with your home that could complicate a closing. Your home will need an inspection before your sale is complete. If the inspectors find anything wrong then you could face an extensive delay or the deal might fall through.
Several things might happen if the inspectors find problems with your home. One possibility is that you will be forced to fix these issues, which means hiring contractors and spending money. The other possibility is that the buyers will take on responsibility of repairing the home, but they will negotiate a lower price. Finally, buyers might be so frustrated with the idea of repairs that they walk away from the deal altogether. Either way, it is not worth it to find out about these problems just as you are about to finalize a sale for your home. It is far better to get a home inspection before you put your house on the market.
Repair Your Home
Once you have completed your pre-sale home inspection it is then time to complete any necessary repairs. Anything that is discovered by home inspections that might complicate your sale should be fixed. Keep in mind that it is always best to hire a trusted contractor. You want to make sure that repairs are done by a licensed professional and meet existing building codes. This is also a great time to make any repairs to your home that are not covered by home inspections. Right now is the perfect time to slap on a new coat of paint or fix minor things that will make your home move-in-ready. Although small things like this won’t complicate your sale at closing, they will help you get more than your asking price.
Upgrade Your Home to Sell
Since you are already repairing your home, it is a great time to make some upgrades that can boost your asking price. Make sure you pick and choose upgrades that will give you the most bang for your buck. Not all upgrades are worth the time and investment. Your entire goal is to get a good return on investment for any upgrades you decide to make. A simple upgrade that can make the difference is adding smart technology. Smart thermostats, alarms, or other devices are relatively inexpensive and are very desired by potential buyers. For any big ticket upgrades that you are considering, please consult your realtor. They know your market the best and will tell you if the return on investment is worth the time and money.
Declutter Your Home
While you are making repairs and performing upgrades, it is a perfect time to declutter your home. Your goal is to make as much space in your home for potential buyers, so that it feels open. Get rid of anything in your house that is not essential, so that you can make your home a blank canvas for potential buyers. Give them a space they can imagine themselves living in.
Give Your Yard a Makeover
Repairs and upgrades are not only for the interior of your home. Give the outside of your property some love and attention too. Make sure your lawn is neatly manicured and that all vegetation is trimmed. Repair anything wrong with decks or patios to make your front and backyards inviting. Spending time and money on the outside of your home goes a long way toward boosting curb appeal. Remember, this is the first thing buyers see and first impressions are important.
Pre-Pack for the Big Move
Since you had to move a lot of stuff to declutter your home, you might as well pre-pack for your eventual move. Taking the time to put stuff in boxes and sell or donate items you do not want, will make your move easier.
Stage Your Home
Staging your home so that is ready to be seen by buyers cannot be stressed enough. Return all rooms to their original purposes and remove any personal items. Family pictures and personal trinkets make your house a home, but they do not make it easy for buyers to imagine themselves living there. Again, this is a place to consult your realtor and it might even be worth hiring a professional.
Take Pictures of Your Home
Once your home is staged it is time to take pictures and videos of your home for its listing. Buyers are spending less time visiting homes in-person than ever before. The more pictures and video you have, the better your chances will be of getting interested buyers. Consult your realtor over what types of pictures and videos they need to sell your home the quickest. Make sure you have great lighting and use a high quality camera. If you have any doubts about this part, hire a professional. Remember, a picture is worth a thousand words.
Find Your New Home
Now that your home is on the market it is time to find yourself a new home. Start speaking with professional mortgage brokers and get pre-qualified for a mortgage. This will help you set your budget and will allow you to find the perfect home for you and your family.
Hire an Experienced Realtor in Your Market to Sell Your Home
The most important resolution to selling your home in 2021 is finding a professional realtor that is experienced in your market. They will be key to helping you accomplish all of your other resolutions and helping you sell your home above asking price.
Final Thoughts
2020 has been a tough year for a lot of us, so it is reasonable if you did not accomplish many of the resolutions you made last December. However, 2021 is a new year. While the team at Streamline Realty cannot help you with your fitness resolution or learning a new language, we can help you sell your home. If you want to start the new year by selling your home, contact us! We will be happy to help you make sure this is one resolution that you can keep.
