Tips to Sell Your House as Mortgage Rates Rise
Are you planning to sell your home? As mortgage rates rise, you might have to put in some extra efforts to entice buyers. This can mean making some investments to upgrade your home. The good thing is that mortgage rates don’t skyrocket in a day, they increase gradually. So, if you are planning to sell your home, you must start planning now and not wait till say the end of year.
What does rise in mortgage rates mean when you wish to sell your home?
If you are planning to sell your home and want to make repairs and upgrades, the window to do will start getting narrow. However, as the rates don’t rise in a day you will have some time in hand to invest in these upgrades. However, do not wait till the end of the year as then you may not be able to sell your home for as much as you aspire now.
As mortgage rates increase, the market becomes less competitive. There will not be many bidding wars, cash payment offers or steep price asks. Less competition is not all bad news. If you are looking for buying a new home, you will find something easily and at cheaper rates.
Low mortgage rates and the pandemic, motivated home buyers to look for more space and a change in the scenery and that drove a rise in demand for properties. Now these trends will settle and the price growth will taper. So, now you will not be able to list your home at an outlandish price.
Tips to get the best deal for your home
This is the time to make your home stand out and grab the attention of buyers, here are few ways to do so:
- Price the home right: Setting the price for your home can always be tricky. A very high price will deter the buyers and a very low price will mean you are losing some money.
- Find an agent you can trust: A great agent who gives you market intelligence and broaches tough topics that may bruise your ego. We at Belmares Properties give you tips on enhancing your home, which will help you get a great deal for your home.
- Create a stage like setting: Do you know why buyers love model homes? They love walking in the home and imagining that this beautiful home can be theirs. So declutter your home and create a beautiful space.
- Make it ready to move in: Not many buyers have the time, energy and money to invest in the home after they buy one. If you give them a place that is move-in ready there are higher chances that they will buy it.
- Keep the place clean: Some people can be allergic to dust or pet hair. You do not want them to go back with an allergy when they come to check the place.
Be proactive when you plan to sell your home
As the housing inventory levels have gone down, it is important that you take proactive steps to put your home up for sale. The above tips will help you attract more home buyers and increase the chances of them deciding to buy your home.
If you need expert advice on selling your home you can reach out to us on call at (210) 877-0815. For more details visit our website.