The real estate market is huge, and it is a source of income for many people. There are almost 300,000 people working as property and real estate managers in the United States. Buying and selling residential property is a common way that people make money — Fortune Magazine reports that 97% of all wealth was directly or indirectly related to property holdings. Investing in real estate gives the owner a variety of ways to earn their money back. Some people earn income by renting the property and from this they are able to count on a steady monthly rental income. For other people, residential real estate means staging your home to sell, also known as “flipping” the property, i.e. selling it at a higher price than the purchase price. If this is something you currently do or are interested in learning more about, keep reading to learn some tips on staging your home to sell.
- Have your home appraised
It’s an important part of selling your home to have it inspected by an appraiser who can tell you how much the home is worth. If you are shocked by their estimate of the home’s worth, get a few opinions until you feel confident about the price. This is a necessary step before selling your home, because listing the home’s price below its true worth means to lose money, but pricing it too high means it may not sell for a very long time, if at all.
- Seek out an interior decorator
When people come to look at a home, they often have plans to redecorate or even completely remodel and go with a new floor plan. However, this doesn’t mean it can’t have a huge impact on buyers’ opinions when they walk in to a clean, beautifully decorated and kept up home. It shows them that the owner cares about the condition of the house and also reflects the home’s potential to be a comfortable and unique living space.
- Be patient, and hire a Realtor
Just because the home doesn’t sell right away doesn’t mean you should lower the price drastically. This is a mistake that many people make when they’re listing real estate themselves. Avoid classic newbie mistakes by hiring an experience Realtor. This gives you access to an elite class of buyers and also to your Realtor’s years of experience successfully listing and selling homes.
- Install new kitchen appliances
Buyers will pay a premium for beautiful, well-furnished kitchens. Sleek, new appliances give the home a modern appearance and feel that will attract many people and that stands out against lots of homes that haven’t updated kitchen features in a while. Installing timeless, durable counter tops, or top-notch appliances can add more to the final selling price than the cost of installation.
- Start small
If this is your first time “flipping” a home, it’s good to take all of this advice and invest in property that won’t break your budget. There’s a learning curve to selling real estate, and it’s best to learn the ropes by purchasing a home that doesn’t take up all of your financial resources.
Do you have any tips on staging your home to sell? Do you make any income from property management or other real estate related ventures? If you have any experience or advice on dealing with real estate holdings and maximizing your investment, please leave a comment below and share your thoughts with other people who may be overwhelmed. More like this blog.