You already made up your mind to sell the house this year. But then, the pandemic happened. Now, you’re torn between waiting for things to clear up and pursuing the sale. You already made the necessary maintenance and even invested in garage door repair services and landscaping to boost its value. How can you decide between the two options?
Even with the pandemic, the housing market is stable. According to Realtor.com, fewer sellers are listing their homes for sale, making it hard for buyers to find their ideal home. With the rising property values and lower mortgage rates during the pandemic, this can be a great opportunity for you to sell your home at a better price.
Aside from the current state of the housing market, there are other things worth considering before finalizing your decision. Some of these are as follows.
Reasons for Selling
Why are you selling the house in the first place? Is it because you need to relocate for your job, or because of financial reasons? If you already have a replacement home and there are immediate reasons to sell, then selling the house now makes more sense.
Are you selling the house because you want to downgrade? Maybe your family now needs a bigger home? If you can still wait for a couple of months and haven’t found a new home to move into, then consider waiting while searching for your new home.
Property-Type
Are you still living in the same house you plan on selling? Or maybe you already started moving your stuff to your new home? Know that the property type can affect your ability to sell the house.
These days, most home buyers want the house to be move-in ready especially since there is a world health crisis going on. Property viewings are done online, and home buyers want to find a house they can envision themselves living in it. You get to increase your chances of selling the house faster with a move-in ready property.
On the other hand, if your property is tenant-occupied, this means you’re still residing in the house. If you put up the house on the market bearing photos of the house with your stuff still on it, this might turn off potential home buyers.
With the pandemic, some sellers are now marketing their homes as subject to interior inspection. This means the property is not for public viewing. Home buyers can only see the interior of the house in person after you approve their offer.
This may seem a bit strict, but it can help you determine who is really interested in buying your property. You can also use the subject to interior inspection advertisement if you or a loved one still living in the property is at a higher risk of acquiring the Covid-19 virus. But if you fear about letting other people into your property and having to disinfect the house after each visit, you may want to consider selling the house only after you’re done relocating.
The Condition of the House
You may think you did a great job of maintaining the house and doing the necessary repairs. But is this good enough for home buyers to want to view the house in person and make an offer?
Homeowners are often subjective when it comes to their homes. Since you did pour resources and effort to make it look how it is today, it can be easy to miss the things that can easily turn off buyers. One way to have an objective point of view is to ask a family member, neighbor, or friend to pass by the house and check it in person and tell you an honest opinion.
It is also a good idea to work with a real estate agent who can give you an honest and non-biased opinion about the condition of your home. They can tell you the best ways to make your home look great not only in photos but especially in person as well. Chances are, they might even suggest staging the house or moving all your furniture out as preparation for the viewing.
Your Real Estate Agent’s Pricing on Your Home
Most homeowners would rather sell their house with the help of a real estate agent. This is to lessen their stress during the sale and to help them set the asking price. If you are not sure how much your home is worth, then a pro can help you price the house for sale while considering all the variables involved.
It is important to make sure that you find yourself a local real estate agent who has experience selling houses in your area. They have the connections, the resources, the real estate knowledge, and experience to help you make the most out of the sale. If you are still paying for your mortgage, then a real estate agent can make sure you get to sell the house at the best price possible and still gain profit from the sale.
It may not be easy selling a house during the pandemic. But if the variables are in your favor, then you might want to pursue the sale. This is especially true now that prices are high, only a few homeowners are selling and mortgage rates make buyers want to buy a house soon.
