How to Sell Your Home During a Recession
Nov 22nd, 2008 by shop-universal-best-buy
How to Sell Your Home During a Recession
Are you struggling to sell your home because your housing market is in a recession? Don’t feel overwhelmed if your house has been on the market for several months with no buyers. There are many people across the United States that are facing the same problems your are. Here are some tips and tricks to ensure you sell your house during the recession.
Alleviate as many concerns a buyer may have. Buyers often have many concerns when purchasing a house including closing cost, realtors cost, and home inspections just to name a few. By eliminating as many of these as possible it will help you chances of closing the real estate deal. Here are some key elements to helping put your potential buyer’s minds at ease.
-Have your house inspected by a certified home inspector.
-If you are not on a city water supply have your septic tank inspected.
-Gather any existing warranties on home appliances that will be sold with the house.
Another great way to entice buyers is to throw something extra in with the house. Houses built on lakes or canals often come with boats of jet skis, this will give your house a differential advantage over other houses in your neighborhood. Cars trucks and RV’s have also been noted to be sold with houses on several occasions.
Get an idea of what other houses of similar size and style are selling for in your neighborhood. Also look for similar house that have sold within the last 2 months this will give you a better idea of the current market value of your home. After deciding what your house is worth, decide what sale price you are willing to let the house go for. Since it is a buyers market you may want to give a 3-5% discount off the market value of your home. This will give you a competitive edge over other houses in your neighborhood.
It’s no secret that buyers are in the market for a green home. Installing water saving toilets and appliances can help to sway buyers to pay more because of money that will be saved later on. A water saving or dual flush toilet can save a family of 4 as much as 15,000 gallons of water a year over a conventional toilet. Upgrading windows and doors to be more energy efficient will also help when selling your home.
Another selling point for homes is luxury appliances. Hot tubs have been helping to selling homes for the last twenty years or so, however there are new better luxury appliances on the market. Whirlpool bathtubs have become common place in the master bathroom so buyers are looking for a master bath with at least a whirlpool bathtub. There have been many innovations in luxury appliances over the last 10 years. Whirlpool bathtubs now have built in features like air massage jets, fm radio, television monitors and more. Steam showers are another Luxury appliance that has stormed the bathroom remodeling industry. Modular steam showers cost between two and five thousand dollars and can be installed in under a day. These are a great replacement for standing shower stalls and are what potential buyers are looking for.
Selling your house during a recession doesn’t have to mean that you loose out. Carefully following this advice will help to maximize the profitability of your house, and also eliminate many of the buyers concerns and wants when looking to by a new home.
How to Sell Your Home During a Recession / Author: SteveJones
