In order to sell your home for top money, you need to invest a bit of time. You need to invest time fixing minor issues in your home, but also to research the world of real estate. It is people who have learned about real estate that tend to sell their properties for the highest amount. Let’s take a look at a few things that real estate professionals have demonstrated to influence sale prices positively in your favor.
First and foremost, you must focus on appearance. Hence, if you do want to sell your home, make sure you pay attention to outward appearance. You have no control over the geographical location or floor plan of your property, but you have all the necessary control over the overall appearance. Indeed, the way your property looks and feels is what will drive the sale, which is often an emotional decision rather than a rational one. Hence, make sure you focus on all five of the senses as well.
Make sure you don’t tell your buyers about your motivation, it should only be yours to know. When you tell people what motivates your sale, they are able to use this to their advantage, not yours, particularly if they are working with a good real estate agent. Try to be as obtuse as possible when asked why you want to sell. Tell them, for instance, that your needs have changed. This answer is so vague that it could mean anything. They will likely hear exactly what they want to hear, and usually in a positive light. One example is that they believe you came into money and are looking to upgrade. Or they may think your kids have left the home and you are looking to downsize. Either way, people will always believe that you have a genuine reason for a sale that is not financially motivated.
These are just a few of the things you can do to increase your chances of making a quick sale for a good price. As you can see, it doesn’t take a lot of money, nor does it take expert skills. They are all simple, common sense actions that make a huge impact. Good luck with your own home sale.
Real estate investing can be both a complete failure or a complete success. Yes, location, location, location is hugely important, but so who you are dealing with is even more important. The reality is that there are some seriously shady characters in the world of real estate. These are the ones you see on late night telly, promising you untold riches.
You may want to compare rental real estate to the stock market. This is because most of us understand these and know that we need to spend money to make money. However, there are no guarantees at all that stocks will actually perform well. The same is true for retirement calculators, who simply “guess” when we will die. If the estimate is wrong and you live longer, then you will end up broke before your death.
If you use this knowledge and apply it to real estate, you need to look for cash flow rather than appreciation. Your cash flow is how much you end up with at the end of the month after all your obligations have been met. What you should do is leave your cash flow alone, and keep that as savings as much as possible. As rent prices go up, your cash flow will rise too. Best of all, your mortgage payments should stay the same. You should be looking at a cash flow of at least 20%. Make sure you take advantage of the online availability of cash flow calculators.
These are the great properties you should look for if you want to invest in real estate. A perfect investment property is one that requires as little maintenance and management as possible. Unfortunately, this can be quite difficult to achieve. You need to be able to invest a lot of time in order to find these properties. You will need to look into all your available options and research and analyze them properly. In many cases, someone who wants to invest in real estate is impatient to actually get started. As tempting as it may be to invest in the first thing that comes along, you really shouldn’t do that. The reality is that if you invest in a terrible property, then you will struggle to every see a return on investment and you are more likely to actually lose money.
It is always a good idea to enlist the services of a realtor, whether you are buying or selling. You may have a friend or relative who works in real estate, but before you automatically turn to them, you will need to think whether they truly are the best for you. Let’s review two issues of importance when it comes to choosing a realtor.
First, you need to look into your realtor’s experience. The more experience they have, the better they are likely to be. The best realtors got into the business before the recent economic crisis and are still working today. Next, make sure that the experience they have is relevant to your own needs. After all, if you are looking to move up the property ladder due to family expansion, your needs will be very different than if you were to look for a first home for your college-going child. The second thing you need to know if how much of an expert they are in terms of the geography and demographics you require. For instance, if you want to purchase a farm, you need someone who has the right contacts to look into the condition of the land, previous production methods and the homestead itself. If, on the other hand, you want to purchase a listed building or a historic property, you will need someone that has a very different type of experience.
There are also some things you absolutely shouldn’t do. Firstly, don’t pick anyone who is your friend or a family member. This would cause a significant conflict of interest, meaning you will struggle to have an honest business relationship. Furthermore, if you find that the result is not entirely to your satisfaction, you could place your relationship in jeopardy. Also don’t work with a realtor who is also representing the other party. Also, if things don’t go the way you want them to, then don’t be afraid to go elsewhere. If you find you do want to leave your current realtor, do so respectfully. Don’t let realtors think they will definitely represent you if you are still doubting yourself. Always honestly tell them at which stage you are. Honesty is the best policy and you expect honesty from them, so you need to return that courtesy.
Hopefully, this information will have helped you to find the best realtor for your needs. The services of real estate agents should be employed whether you are buying or selling. One of the most important things they will be able to help you with is identifying the best time to buy or sell, and this information could save or make you a lot of money.
If someone is eager to sell their property, they may keep a few defects hidden. Unfortunately, hiring a professional inspector can get expensive if you are viewing multiple homes. Therefore, here are some things that are obvious even to a novice which can tell you not to buy the home.
First of all, you must be wary of the “fixer upper.” These properties are listed as being incredibly cheap, which does make them attractive. Many times, we believe that we can fix the problems ourselves. The truth is that most of these things can only be fixed by qualified professionals. Unfortunately, these professionals cost a lot of money, often more than you may have budgeted for. Secondly, be very careful of properties that have clearly had DIY adjustments. People may have done a really good job, at least cosmetically, but the reality is that it may be saddled with problems.
Now, you need to see how the property was looked after. Signs of regular maintenance are hugely important. If you find that the owners haven’t look after the outside properly, the inside is likely to be the same. Also, look at the wiring. You are not likely to be an electrician, but there are certain things you can easily notice yourself. For instance, flickering lights and hot or warm outlets are signs of a bigger problem. Owners may be trying to hide a problem if you notice that single walls have been painted very recently. Check the windows. If there are signs of condensation or windows don’t open properly, it could be a sign of serious damage that will cost you a lot to repair.If an owner declares certain rooms as “off limit”, then go find a different home to buy. If any structural work has been done on the property, you need to make sure that it was done by someone who was fully qualified to do this.
When push comes to shove, you are the only one who can work out whether or not you want to purchase a property. Additionally, if you find that there are certain problems, you could use this as a negotiating point to drive the price down. You do have to ask yourself whether that bargain is worth the potential financial hassle you are putting yourself through. Whether you purchase a property as an investment or as a home, it is always going to be a building that somebody will live in, and you need to make sure that the quality of life in that property can be pleasant and enjoyable. Although it is certainly true that you should look into the condition of the actual property, focusing on the neighborhood is equally important. All you really have to do in order to find out whether the property itself is any good is hire a property inspector. When it comes to the neighborhood, however, you need to have a personal feel, something that cannot be achieved by a check box list.