Are you thinking that 2022 is the year to sell your home? Then you’re probably looking around the interior and exterior and thinking about changes and improvements you can make to make your house as attractive as possible to potential buyers.
The first step is finding a real estate agent with expert knowledge of the local market, and someone you can trust.
Once you’ve secured the right agent, there are a few more steps you should take to ensure you get the most out of the home selling process:
- The inventory of Homes is very low right now
The housing inventory in the United States is much lower than what is normal. The latest data suggests inventory is at an all-time low, according to the National Association of Realtors. The limited supply means you likely will benefit and receive several offers and a fast closing. Renovating before listing will delay the process and may mean you miss out on some potential buyers, but some renovations are too crucial to put off. Your real estate agent can help you make that determination.
- A potential buyer may consider doing the improvements themselves after purchase
The mortgage lender Freddie Mac recently found that nearly two-in-five potential buyers will consider doing the improvements themselves if it means securing the property they want. That way, they can also tailor the design and overall aesthetic to their own liking.
- Rely on the expertise of your agent to help put the spotlight on your projects
According to a recent report in the State of Home Spending, there was a 25% increase in home improvement spending in 2021 over 2020, to an average of $10, 341. Investing in improvements now could likely help you fetch a higher asking price down the line, and a qualified agent will know how to shine a light on those renovations so that they stand out for potential buyers.
Today’s market is a seller’s market and investing your time and finances wisely can help you get even more out of the housing market in 2022.