Listing your home in the real estate market can be a very emotional experience and also very confusing. This is a place you probably grew up or started a family, and we get it. All the same, it’s a big decision that needs a lot of research and calculations.
You need to know what will attract buyers, their needs, and how you can get hold of them. You also need to ensure that you go about the transaction as per what New Jersey real estate laws dictate.
To make the process a lot simpler, here are some pointers you may want to consider when selling your home in New Jersey.
How Do You Determine Your Property’s Value?
Pricing is everything when it comes to selling your house. But how do you know if you’re overpricing or underselling in the local real estate market?
There are online valuation tools to help you calculate the fair market value of your home. These websites use information such as your location to give you the price per square foot. Some of these services are free and even provide real estate sale records on recently sold properties.
Research Comparable Properties in Your Area and Price Accordingly
A good way of working out a practical value for your property is to do a comparative market analysis. Consider factors such as the construction styles, general age of the properties, and sizes.
Check out homes similar to yours and compare the original prices and the selling prices at market value. This will give you an idea of whether you should reduce or increase your property’s value.
A local real estate company like Century 21 Real Estate Group can help you since they are well experienced in selling real estate in New Jersey. Alternatively, you can hire an appraiser to give your property an appraisal. This will give you a clear idea of what price range you should work with.
Selling Your Home and When Should You Consider It and Why?
Suppose you are thinking of upgrading or downsizing to a different property, or maybe just a change in scenery. Whatever the case, selling your house can be a big dilemma, and you need to factor in a few things before you make the final decision.
If you’re selling your home because you feel that you have outgrown it, you will need to calculate your home equity to make sure that what you sell can cover your upgrade and even maybe give you a profit.
Make sure that you tick all the right boxes as per the preferred criteria in the buyer’s market. A home that is on the market for too long can depreciate.
A good rule of thumb is waiting until you have owned and lived in the home for more than 2 years to avoid paying hefty property taxes. These are some of the factors that you need to consider quite early before starting the sales process.
Determine the Best Time To Sell Your Home Based on Market Trends
Timing is key when you want to sell your house in New Jersey. You’ll find that your property will fetch a good asking price at certain times of the year. Many people tend to buy houses during the spring or summer, so this is the best type to put your house on offer.
Also, consider the current mortgage rates since it will determine how financially appealing your property will be to buyers.
You really have to get a sense of the real estate market in New Jersey, such as knowing how many homes are in the market at that particular time. One way of gaining this insight is by working with Century 21 Real Estate Group. This will give you an idea of how long it will take to sell your house and when the buyer’s market price is peaking.
How Do I Get My House Ready for Sale?
First impressions matter for property buyers, and if you are going to sell a home you’ve lived in, you might need to do some minor repairs. Ensure that all the painting and landscaping have been well done before buyers come in to get a good visual appeal of the house.
Hire a professional to identify problems such as water leaks or electrical issues that might disinterest potential buyers. You may also want to deep clean the house and declutter as much as possible to make the interior spaces look bigger.
Pick a popular day of the week to list your home, like on Saturday when most people are not working.
Create a Marketing Plan
A well-thought-out and executed marketing plan is important in increasing the visibility of your property online and offline. Familiarize yourself with real estate social media channels to reach out to more buyers in your selling area.
Hire professional photography services and take video walkthroughs so that potential buyers may get the feel of the place virtually. Print out high-quality flyers to pass around and put up a for-sale sign at the front of your home to let the neighborhood know you’re selling.
Consider Hiring a Dependable Real Estate Agent
When it comes to selling houses, no one is more equipped than an experienced real estate agent. A good real estate agent should be aware of the intricacies involved in a real estate transaction and what contracts need to be signed by both parties.
Real estate agents with this experience and know-how can alert you on issues such as a realistic price, bad deals, and what buyers are looking for in the market. Another plus is that a real estate professional is not prone to emotions that would cloud your decision-making during the selling process.
Choose the Best Real Estate Agent in New Jersey!
A home is probably the single most significant investment many Americans will make. This makes it very important for you to consider the decision carefully and not take rash actions.
As you do all this, remember It’s important to plan ahead of time so that you are at a strategic advantage in a market that’s as competitive as it is today. For the best advice on the New Jersey real estate market, contact Century 21 Real Estate Group today, and we’ll get right back in touch.