Selling your home can be a stressful experience. Though the process is extensive, millions of people across the United States sell their homes every year. In fact, 5.34 million homes were sold in 2018. That’s good news for sellers here in the US.
Here are some things you should know before putting your home up for sale:
Research the local housing market
If you’ve only lived in the home you’re looking to sell for a couple of years, you won’t know the local housing market well enough. Housing prices are determined by the ask price of neighboring homes as well as the state of the house. Research the local market to establish if it’s a good time to sell or not. Consider local economic conditions and trends since they directly impact buying power. Look for information on houses for sale in the area, how many are currently for sale and if they are similar to your property, etc.
Prelisting inspection
Having a professional inspect your home before putting it on the market is a good idea. An experienced home buyer will also have a professional inspection done to identify factors that help them come with an appropriate offer. Even the most perfect homes require a few repairs and additions to pass a prelisting inspection.
Note down the issues pointed out by the inspector and address them before putting your home on the market. Make sure the individual inspecting your home also provides a detailed report of their findings as proof.
Understand current tax laws
Selling a home is a taxable event. The capital gain on your home will be taxed. Luckily, the IRS provides tax breaks for homeowners. You’re applicable for this tax break if the home has been a primary residence for at least 2 of the last 5 years. Capital gains exemption is up to $250,000 for single individuals and $500,000 for married couples. Capital gains are calculated after deducting closing and selling costs of the property.
Repair or replace
To make your home more attractive to buyers and to grab the best price possible, you will need to get repairs and maintenance done. Have the rooms painted to give them a fresher appearance, replace burnt out and dulled down light bulbs, remove and update old appliances, have faulty plumbing addressed; all these things will add value to your home and make it more appealing to buyers.
Improve the curb appeal of your home
When it comes to attracting buyers, the first impression of your home has a significant impact. Making changes to the landscaping that increase the curb appeal of your property will catch the attention of buyers and possibly sway their decision in your favor, according to Forbes.
Mow the lawn and rake the leaves off it as well, trim the hedges for a neat look, and maybe plant some flowers for a more inviting look to the home. A new mailbox and bench should make a picture perfect entrance.
It’s time to look for a realtor! If you’re in search of the top real estate agents in Dillsburg, you’re in luck! Smith Top Team provides real estate services for sellers in the area. With a cumulative experience of over 40 years, we know all the tips and tricks to sell my house in Dillsburg PA! Call 844-867-8326 for more information on our services.