It’s true—buying a home is likely the largest purchase most of us will ever make. Whether you plan to stay in your home for years or you’re considering a more immediate move, protecting your property’s value means protecting your biggest asset. So, what can you do to maximize your most valuable investment?
- Keep It Up– The most important factor to property value is to maintain your property. This may be as simple as having your furnace/HVAC serviced regularly, keeping your home clean and in good repair, or possibly considering cosmetic changes like a new counter top or appliances, especially if your home is more than 10 years old. Don’t forget about deferred maintenance such as replacing rotted trim around windows and doors, cleaning gutters, or replacing things when they are near the end of their functionality. While they aren’t as “fun” as redecorating, potential new homeowners may not want to pay top dollar for a property if they see visible signs of damage or neglect, or if they’re worried about the need to replace a roof or major appliance right away. By replacing them yourself, you not only get to enjoy the use of the new item, but you can bet buyers will find your property more attractive when you are ready to sell. Not sure what to prioritize? Check with a professional Realtor on what market expectations are and how you can address them!
- Don’t Delay– Life changes can and do happen. Maybe you’re experiencing a job change, or need to care for an elderly parent, or your child was just accepted to a private school across town. Maybe you’re seeing sales boom in your area and you’re ready to “cash out” and bank on some bucks to pad your retirement. If your home is no longer meeting your needs, don’t wait until the last minute to list. Timing is very important for getting a seller that top-dollar sales price. And if you need, rather than want, to get out of your mortgage, desperation may cause a seller to accept a lower offer. If you think you might need to make a transition soon, contact a realtor for comparative market analysis so you’re aware of the whole picture. Information is key!
- Hire A Professional– Don’t leave your dollars to chance. Hire someone you trust to represent you and your interests. In this age of flat fee listings and FSBOs, it may be tempting to go with the least expensive alternative for selling, but remember, your home is your most valuable asset. Hire a professional who will not only list your property, but is willing to advocate for your interests to others and advise you on how decisions may impact your bottom dollar. Interview multiple agents and get neighbor recommendations for who you feel may net you the most. The answer may surprise you.
If you are not currently working with an agent and have specific questions about your home or your situation, please contact me for more information or assistance.