When you are preparing your property for resale, there are several things to consider. Be aware that it involves more than steam cleaning the carpet and painting the front porch.
Not only will repairs and refurbishing be on the to-do list, but also bringing your property up to code—if it’s not already there. This is why setting goals for your property sale before the buyers are on your doorstep is important.
Best Case Scenario
If you’re not in a hurry to sell you can spread out your goals over a period of time. Whether weeks, months or even a year, this will ensure you’re being able to complete each task by the time you’re ready to sell. It will also take the pressure off your budget. Spreading out your expenditures over a period of time will make it easier to come up with money you need to make improvements.
Be realistic when setting your goals. Put your money where it will count most. Your Number One goal is to get the greatest amount of money you can get when you sell the property.
Landscaping is one of those things. Curb appeal adds value to your property. However, building a swimming pool in the backyard won’t increase the value of your home. Set reasonable goals and then pick and choose from the list.
If you ARE in a hurry to sell, the buyer has greater leverage. In other words, your time constraints make it more likely you’ll accept an offer. If the buyer comes to you with an offer that’s below your asking price, the ball’s in their court. Better be sure you’re in position!
Your best strategy is to set property improvement goals before you plan to sell. Just keep in mind (better yet commit to paper) the objectives you’ll need to meet when the time comes to sell.
Being in a hurry doesn’t have to place you at a disadvantage if you work with a real estate investor. He or she can go over your goals for property improvement as well as financial objectives. In some cases, they do more than broker deals. They are often buyers or they can find a buyer for you—one that suits your needs. Be prepared!