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Maximum Sale Price:
4 Techniques to Increase
Your Home's Resale Value

home selling articles and tips

 

If you had the choice to sell your home for $100,000 or $200,000, you would probably choose to sell for the higher price. While market forces may dictate how much you can sell your property for, there are steps that you can take to increase its sale price. What specific techniques can you use to convince a buyer to pay more for your home?

Take Advantage of Anchor Pricing

An anchor price is a frame of reference that a buyer uses when determining how much something is worth. If a buyer sees your home listed for $100,000 he or she will use that as a starting point for negotiations. However, if you list your home for $150,000, the buyer will use that price as a starting point for negotiating a deal. Therefore, it may be in your best interest to list the home for slightly more than market value as its possible someone may make an offer at that price point.

Wait Until a Seller's Market Develops

It may be a good idea to wait to sell your home until there are more buyers than sellers. As there will be a scarcity of homes on the market, buyers will offer more money to secure one of the few properties that become available. In some cases, buyers will offer more just to say that they won the battle with another potential buyer even if they offer well above list price.

Make Updates Wherever Possible

Putting a new furnace in your home provides a buyer with peace of mind that he or she won't potentially face expensive repair bills this winter. Professionals, like those at Pacific Aire, Inc., know how important it is to have a good furnace in your house when selling. Fixing or replacing the roof may prevent expensive water or pest damage from occurring just months after the home is purchased. In many cases, a buyer is willing to pay more for a house that requires little to no maintenance.

Curb Appeal Matters

Spending a few hundred dollars on plants and small trees for your front yard could increase the value of your home by thousands of dollars. You may also want to seal your driveway, mow the lawn and take other steps to ensure that the home looks inviting to those interested in learning more.

Ideally, you will be interested in getting the highest possible offer when selling your house. Therefore, it is in your best interest to make your home as appealing as possible to create the demand necessary to get the most for your property.