Updated: Jun 16, 2020
No matter who you are, if you are wanting to sell your home, you absolutely want to get the most money possible. After all, for the majority of us, a home should be the single biggest investment of our lives. Did you notice that I said "investment" and not "purchase"? There are a lot of people in the world who simply buy a home without weighing out all of the factors. Not weighing out all of the factors can cause a lot of hardship down the line when you are trying to resell a property. Let's go over some important ways to make money on a home and even one trick that is rarely used at all.
Buying Low: Yes! The easiest way to make money on a home is to buy for as little as possible, even if you do not make any other improvements to the property. Simply by buying a property for as little as possible and allowing the other homes around you to improve, you are sure to make a profit without lifting a finger or breaking a sweat. So beware of buying the most expensive house in the neighborhood.
What Would the NEXT Person Like: I know that is may seem weird to care about what someone else thinks about YOUR home but if you think about it, it makes sense. Unless you are the Knight's Templar who found and drank from the holy grail, you will not live forever. When you are making improvements to a home feel free to go custom, just keep in mind what other buyers may want to see. The more people interested in buying your home the more likely you are to sell fast, and for more money.
Okay, so those first two may not be a surprise to you, but I would bet my bottom dollar that most people who have trouble selling their home did not think of one or even both of those things. Trust me when I say this, there are more ways to lose money on a investment than there are to make money, so that is why I felt the need to open with those two tips.
I promised you a tip that not everyone does, and I do. What if I told you that this last tip, 75% of home sellers fail to do. What if I also told you that the 25% of sellers who do this sell their homes faster, with less stress, and often times more money.
Pre-Listing Home Inspection: There are so many benefits to getting a pre-listing inspection done on your home. By taking this often forgotten step you are telling your buyers that you mean business and that you are ready to sell. It gives you the opportunity to make improvements to the home, and minimizes the amount of money the buyer will ask off of the listing price.
Even if you don't plan on making improvements or repairs before listing, you are now equipped with the knowledge that will help you to more accurately price your home. So, when a buyer tries to haggle you into accepting a lower offer you can simply say, "We are already aware of the issues and we feel our asking price reflects that".
These are of course not the only ways to make the most money selling your home, and I am not a Realtor, but I am a Home Inspector. A good home inspector is crucial and I encourage you to do your own research before you choose your next inspector. Do not look only at the cost of a home inspection, instead, consider the value of a home inspection. Knowledge is power, and the more you know about your current home the less power the buyer has. If you want to know the most about your home, consider hiring an InterNACHI (InterNational Assocaition of Certified Home Inspectors) Home Inspector.