Is Your Home Worth Less Than You Originally Paid for It?

by Lynnette Young 06/21/2020

Let's face it – determining how to price a home is rarely simple for a seller. In some instances, your home may be worth less than you originally paid for it.

Ultimately, if you failed to maintain your house over the years, various home problems may crop up when you decide to list your residence. If these issues go unaddressed, it may be tough for you to maximize your house sale earnings.

With the right approach to preparing your house for the real estate market, you could upgrade your residence in no time at all. Now, let's take a look at three tips to help you improve your residence and ensure you can obtain the optimal price for your house.

1. Enhance Your Home's Curb Appeal

How your residence looks in the eyes of potential buyers is key. Because if a buyer falls in love with your house the moment he or she sees it for the first time, you could benefit from a fast, profitable house selling experience.

Improving your home's curb appeal can be quick and simple. For instance, mowing the lawn and trimming the hedges can help you transform an ordinary front lawn into a pristine one. And if you have any damaged or cracked home siding, you should repair it as well.

2. Upgrade Your House's Interior

Ensure your home's heating and cooling system and other internal systems are working properly. If you find there are issues with any of these systems, contact a professional to repair them.

Don't forget to clear clutter from your house, too. If you find your home is filled with assorted knick-knacks and items you no longer need, you can sell these items. Or, you can always donate the items you no longer need to a local charity or give them to family members or friends.

If you maintain a neat, tidy house, buyers are sure to be impressed as soon as they walk through your front door.

3. Conduct a Home Inspection and Appraisal

A home inspection usually is completed before a buyer finalizes their house purchase. Yet a seller who conducts an inspection may identify myriad house problems. They can then take steps to address such issues before listing his or her residence.

Additionally, a home appraisal may be crucial for a seller. During an appraisal, a property expert will examine a home and offer a property valuation. Next, a seller can use this valuation to determine how to price their house.

As you get set to add your home to the real estate market, you also may want to hire a real estate agent. This housing market professional will craft a custom home selling strategy for you. Plus, he or she will do whatever it takes to help you achieve your desired house selling results.

Ready to list your home? Take advantage of these tips, and you may be able to obtain an offer to purchase that matches or exceeds what you originally paid for your house.

About the Author
Author

Lynnette Young

Lynnette demonstrates integrity, energy and hard work in her relationship with her clients. She utilizes creative service in every detail of your real estate transaction. Lynnette grew up in Solano County and is a UC Davis Alumni. She began her career in sales and management in the restaurant industry and has carried that knowledge into every aspect of real estate, representing sellers, buyers and investors in the residential market. Lynnette is a mom of 4 and wife to a local first responder. She believes in the community and chose McGuire Capital Group Realty because they shared the same passion in philanthropy and commitment to our hometown.