Let’s face it, selling your home can be an expensive and stressful process. There are plenty of hidden costs and expenses that you probably won’t account for in your first round of calculations.
Fortunately, with a little bit of research and planning, you can significantly reduce the upfront cost while also making sure you get the best price possible. With that in mind, here are some great ways to save money while you sell your home fast and keep overall costs to a minimum.
Hire a great real estate agent
The first and most important part of selling your home is hiring an experienced, reliable real estate agent. Make sure you do your research and find someone who is trustworthy and has a proven track record.
From there, your agent will help you navigate the entire process from start to finish. They can give you advice on pricing, showings, repairs, and much more. Having a great agent by your side can make a world of difference.
One way to ensure that you get the most for your dollar is to hire a discount realtor. This type of agent may charge a lower percentage in commission when selling your home, or maybe even a flat fee. Either way, rest assured that you’ll be receiving the same invaluable knowledge and services as you would with a real estate agent that charges full price.
Declutter and stage your home
One of the best ways to sell your home is to stage it. This means decluttering your home, cleaning, and making a few key changes that will make it more appealing to potential buyers.
You’ll want to start with getting rid of any excess furniture that isn’t absolutely necessary. This will make your home feel larger and more open.
You may also want to paint a couple of rooms. Consider neutral colors. This allows potential homebuyers to view the house as more of a canvas to add their own style and preferences to.
These are simple, relatively inexpensive changes that can have a big impact on the overall appeal your home will have with buyers. It can also help to move your property faster and for a higher price.
Negotiate key repairs
Another great way to save money on your real estate fees is to negotiate repairs on items that may be preventing buyers from purchasing your home. For example, if you have a roof in need of repair, water heater, or furnace, you may want to offer to replace those before putting your home on the market. Doing this will not only get you a better price, but it will also improve your home’s value over time.
A fantastic way to save money on repairs is to do them yourself. While some of the larger repairs may be time consuming, or outside of the average person’s skillset, smaller repairs can typically be handled by most homeowners. A little bit of research and some basic tools can go a long way.
On occasion, it may make more sense to negotiate the price rather than having the repairs done yourself. As we all know, time is money, so any time saved is money saved.
Also, a buyer may accept a smaller decrease in the asking price of the house than it would take to have the repairs done. This can also reduce the taxes and commission charges you may incur.
Plan for your move and sale at the same time
Another great way to cut down on costs is to plan for your move and your home’s sale to occur at the same time. While this may seem like a no-brainer, there are many variables at play that could become costly if not planned for.
For instance, if you’re purchasing your next home, aim to sell your current property and buy your new home on or around the same day. There are advantages and disadvantages to a simultaneous closing, so be sure to do your research.
If you’re renting for the time being, you can negotiate a prorated amount on your deposit and first month’s rent depending on the day you’ll actually be moving into your new home. Don’t be afraid to ask your realtor for their assistance with this.
This will allow you to have the ability to move out of your old house and into your new home at the same time, which will undoubtedly save you money on things like storage, temporary housing, and possibly needing movers for multiple days.
Don’t forget to celebrate
Finally, it’s important to remember to celebrate the end of your home sale journey. You’ve likely been living under a bit of stress for the last few months, so now is the time to relax a bit.
With all that extra money you’ve saved, you can buy yourself a nice meal, go out for drinks with friends, or do whatever it is that makes you feel good. It’s important to remember that you’ve accomplished something great, and that’s worth celebrating!