Top Home Selling Tips 2022: How to Prepare Your Property While things like lot size and the number of rooms may be harder to alter when selling your home, the following house selling tips will address the main concerns of potential buyers and what they commonly look for in a home. Here are the top home selling tips 2022: 1. Price at a Reasonable Market Value As mentioned earlier, price is one of the things potential buyers look at when investing in real estate. While making money in real estate is your primary goal in selling your home, you cannot just price your property at any rate you want. You should look at local listings, scout other properties for sale in your area and gauge the current selling prices of homes with similar features to yours. This could be a similar number of rooms, lot size, amenities, furnishings, and other factors. In the real estate industry, this is known as comparative market analysis, or CMA for short. The important thing is that you don’t overprice your home for sale as it won’t sell or underprice your property as it will lead to a smaller return on investment. The only time you should aim for a slightly lower asking price is if you need the cash from the sale immediately. This will more likely make your listing more competitive compared to other listings at market value. 2. Know Where to List Your Property Now that you have an idea of how to calculate your asking price, you will need to gather some more real estate data and list it accordingly. While there are many real estate websites, not all of them are created equal, so you will need to find out the best places to list your property to attract the kind of investors you want. 3. Hire a Top Realtor in Your Market Even if you renovate your entire home and include the latest appliances, working with a bad realtor real estate agent may cause you to lose out on a potential sale. Realtors will heavily affect the buying experience of potential investors when they enter your home. If they are ill-informed about your property and the area, it may turn buyers off from your property and direct them to other properties with better-equipped agents. It is also important to note that a good realtor does not just show the house to potential buyers. A good real estate agent is key in upselling your home and guiding you through the selling process. Having additional services like marketing, negotiation mediation, contract signing, and others all contribute to a good realtor and can save you quite a bit of stress, time, and money. 4. Have Good Quality Photos of Your Home Before potential buyers even consider physically looking at your home, they will be looking at the pictures you provide in the listing. This is why it is quite important that you have high quality – if not professional – photos of your property. No matter how great your home for sale is, if that is not translated into photos, rarely will you spark enough interest online for people to view your house. In addition to drawing more interest, listings with good pictures can actually command higher selling prices as well. According to the Washington Post, house listings with professional photos not only have 47% higher price tags but are also sell 32% faster than the average house listing. So, while professional photos may cost around $100 per hour on average, they could significantly boost the selling price of your home.  5. Clean Your Property Thoroughly Before Open Houses This may be a no-brainer, but you’d be surprised at how many people do not tidy up before showing their property to potential investors. Having a clean house gives a better first impression and will draw potential buyers in more as compared to a cluttered home.  Additionally, if your home is on the smaller side, cleaning it and removing clutter could make it appear bigger to potential buyers. While this may be a very small detail, with each show you want to create the most inviting and alluring environment in your home, and that starts with it being clean. 6. Keep Decorations Neutral One of the best home selling tips 2022 is to keep your home decorations neutral, especially when it comes to showing political stances. Political beliefs and preconceived notions run deep, and while it may seem unlikely, potential buyers may automatically disregard your home in their decision process because of your beliefs. Removing all objects that support any political, religious, or social issue can help remove possible prejudice or personal beliefs from being a factor in the selling process of your home.  7. Make Minor Updates to the Main Parts of Your Home You do not need to renovate the whole property before listing it, but adding a few repairs and updates to the main living areas may boost the price you can list it for. Focus on areas like the kitchen, bathroom, and living room, as these are the places people will be spending the most time in. It also does not have to be the entire room, you can make small upgrades to cabinets, faucets, or tiles and still reap the benefits of an upgraded room during the selling process. It has been shown that remodeled kitchens could actually yield a return of investment of as much as 85 %.  8. Don’t Still Be Living in the Home If Possible While it may not be possible for everyone, if you can vacate the premises, it could make a world of difference when potential buyers view your home. No longer living on the property and removing personal items around you gives investors the opportunity to freely inspect the home from rooms to cabinets without feeling like they are invading someone else’s privacy. If you cannot completely vacate the property, the next best thing is to not be there during the showing to give potential buyers the same freedom to inspect as they please. 9. Know When to Sell Perhaps one of the most underrated home selling tips 2022 is knowing when to sell. As the saying goes, timing is everything. While there is demand for homes at the moment, when you sell can be a major factor in the selling price. According to Zillow, if you are trying to make a quick sale, then you should probably list your home sometime around March. However, if you are looking to sell your home for the highest possible price, July may be a better time for you to list your home. Follow These Home Selling Tips 2022 and Sell Your Property Like a Seasoned Pro!

What Do Buyers Look for in a Home? Before getting into the nitty-gritty of specifics of the best home selling tips 2022 and how to fix up your house, you should be aware of what potential buyers are looking for in your home or income property for sale. Though each buyer will have a different set of needs and wants when looking into investing in real estate, these are the common things that everyone will be considering when looking at your property: 1. Property Price Before buying a home or an investment property, most people will have a budget on what they can afford to spend on prospective properties. This may be out of pocket or based on a pre-approved loan, but regardless of their payment methods, if your house is listed too high, they may not even consider viewing it, much less buying it. Additionally, you have to match your price to the value of your home while still making a return on investment. Potential buyers want to feel like they got a good deal when buying your property. This means that while you would like to sell your house for double the price to get good real estate appreciation, you will have to consider the median property price in your local housing market, the structure of your home, the location, and other factors that can play into pricing to justify your asking price. Having a high asking price with little to show for it will scare potential buyers off and prolong the selling period on your home. 2. House Age A common question for potential buyers is how old the home is or when it was built. While some real estate investors are looking for fixer-uppers, newer houses provide a sense of security to buyers that the property will have the technologies and features that have become necessary in modern-day life as is. Additionally, older houses will need more repairs that the buyer will have to shoulder out of pocket, while newer houses will require fewer renovations though will usually yield a higher sticker price upfront. 3. Home Appliances Similar to the actual age of the property structure, potential buyers will look into the appliances included in the home. While you may not need to include the newest trendy appliances in your home, the staples like a stove, dishwasher, laundry machine, heaters, and others would definitely benefit the selling process of your home. Aside from simply having these things in your home, buyers will assess its condition as appliances are expensive to replace and will most likely try to negotiate a lower price if any major appliances are older or barely functional. If you choose to forgo including appliances when selling your home, buyers will most likely look that you at least have the provisions like an outlet or existing water line to install other appliances down the road.  4. Lot Size and Shape While you may be looking at the property structure only, potential buyers will be taking note of the lot it’s built on as well. The lot shape, size, and distance from other houses will all come into play when potential buyers are considering placing an offer on your home. If your home is built on a bigger lot, this may be seen as a key selling point as it offers more privacy and even the option to expand the home later on with a mother in law house, for example. 5. Number of Bedrooms and Bathrooms Each potential buyer will have a different number for the number of bedrooms and bathrooms that their family would need in an ideal home. While this may be a bit hard to adjust to, most buyers will look for at least 2 bedrooms and 2 bathrooms on average. Depending on the family’s size, this number may increase or decrease. It would also be beneficial if there were spare rooms that could later be transformed into a bedroom as this provides the buyer with the possibility of expansion in the home.  

Preparing to buy tips Start saving early Here are the main costs to consider when saving for a home: Down payment: Your down payment requirement will depend on the type of mortgage you choose and the lender. Some conventional loans aimed at first-time home buyers with excellent credit allow as little as 3% down. But even a small down payment can be challenging to save. For example, a 3% down payment on a $300,000 home is $9,000. Use a down payment calculator to decide a goal, and then set up automatic transfers from checking to savings to get started. Closing costs: These are the fees and expenses you pay to finalize your mortgage, and they typically range from 2% to 5% of the loan amount. You can ask the seller to pay a portion of your closing costs, and you can save on some expenses, such as home inspections, by shopping around. Move-in expenses: You'll need some cash after the home purchase. Set some money aside for immediate home repairs, upgrades and furnishings. Decide how much home you can afford Figure out how much you can safely spend on a house before starting to shop. NerdWallet's home affordability calculator can help with setting a price range based on your income, debt, down payment, credit score and where you plan to live. Check and strengthen your credit Your credit score will determine whether you qualify for a mortgage and affect the interest rate lenders will offer. Take these steps to strengthen your credit score to buy a house: Get free copies of your credit reports from each of the three credit bureaus — Experian, Equifax and TransUnion — and dispute any errors that could hurt your score. Pay all your bills on time, and keep credit card balances as low as possible. Keep current credit cards open. Closing a card will increase the portion of available credit you use, which can lower your score. Track your credit score. NerdWallet offers a free credit score that updates weekly. Mortgage selection tips 4. Explore mortgage options A variety of mortgages are available with varying down payment and eligibility requirements. Here are the main categories: Conventional mortgages are not guaranteed by the government. Some conventional loans targeted at first-time buyers require as little as 3% down. FHA loans are insured by the Federal Housing Administration and allow down payments as low as 3.5%. USDA loans are guaranteed by the U.S. Department of Agriculture. They are for rural home buyers and usually require no down payment. VA loans are guaranteed by the Department of Veterans Affairs. They are for current and veteran military service members and usually require no down payment. You also have options when it comes to the mortgage term. Most home buyers opt for a 30-year fixed-rate mortgage, which is paid off in 30 years and has an interest rate that stays the same. A 15-year loan typically has a lower interest rate than a 30-year mortgage, but the monthly payments are larger. 5. Research first-time home buyer assistance programs Many states and some cities and counties offer first-time home buyer programs, which often combine low-interest-rate mortgages with down payment assistance and closing cost assistance. Tax credits are also available through some first-time home buyer programs. 6. Compare mortgage rates and fees The Consumer Financial Protection Bureau recommends requesting loan estimates for the same type of mortgage from multiple lenders to compare the costs, including interest rates and possible origination fees. Lenders may offer the opportunity to buy discount points, which are fees the borrower pays upfront to lower the interest rate. Buying points can make sense if you have the money on hand and plan to stay in the home for a long time. Use a discount points calculator to decide. 7. Get a preapproval letter A mortgage preapproval is a lender's offer to loan you a certain amount under specific terms. Having a preapproval letter shows home sellers and real estate agents that you're a serious buyer, and can give you an edge over home shoppers who haven’t taken this step yet. Apply for preapproval when you're ready to start home shopping. A lender will pull your credit and review documents to verify your income, assets and debt. Applying for preapproval from more than one lender to shop rates shouldn't hurt your credit score as long as you apply for them within a limited time frame, such as 30 days. Home shopping tips 8. Choose a real estate agent carefully A good real estate agent will scour the market for homes that meet your needs and guide you through the negotiation and closing process. Get agent referrals from other recent home buyers. Interview at least a few agents, and request references. When speaking with potential agents, ask about their experience helping first-time home buyers in your market and how they plan to help you find a home. 9. Pick the right type of house and neighborhood Weigh the pros and cons of different types of homes, given your lifestyle and budget. A condominium or townhome may be more affordable than a single-family home, but shared walls with neighbors will mean less privacy. Don't forget to budget for homeowners association fees when shopping for condos and townhomes, or houses in planned or gated communities. Another option to consider is buying a fixer-upper — a single-family home in need of updates or repairs. Fixer-uppers usually sell for less per square foot than move-in ready homes. However, you may need to budget extra for repairs and remodeling. Renovation mortgages finance both the home price and the cost of improvements in one loan. Think about your long-term needs and whether a starter home or forever home will meet them best. If you plan to start or expand your family, it may make sense to buy a home with extra room to grow. Check out potential neighborhoods thoroughly. Choose one with amenities that are important to you, and test out the commute to work during rush hour. 10. Stick to your budget A lender may offer to loan you more than what is comfortably affordable, or you may feel pressure to spend outside your comfort zone to beat another buyer’s offer. To avoid financial stress down the road, set a price range based on your budget, and then stick to it. Look at properties below your price limit to give some wiggle room for bidding in a competitive market. 11. Make the most of open houses Online 3D home tours have become more popular amid the COVID-19 pandemic. These tours let shoppers virtually walk through a home at any hour and observe details that regular photos don't catch. They don't supply all the information in-person visits do — like how the carpets smell — but they can help you narrow the list of properties to visit. Open your senses when touring homes in person. Listen for noise, pay attention to any odors and look at the overall condition of the home inside and out. Ask about the type and age of the electrical and plumbing systems and the roof. Home purchasing tips 12. Pay for a home inspection A home inspection is a thorough assessment of the structure and mechanical systems. Professional inspectors look for potential problems, so you can make an informed decision about buying the property. Here are some things to keep in mind: Standard inspections don’t test for things like radon, mold or pests. Understand what's included in the inspection and what other inspections you might need. Make sure the inspector can get to every part of the house, such as the roof and any crawl spaces. Traditionally the buyer attends the inspection. By following the inspector around you can get a better understanding of the home and ask questions on the spot. If you can't attend the inspection, review the inspector's report carefully and ask about anything that's unclear. 13. Negotiate with the seller You may be able to save money by asking the seller to pay for repairs in advance or lower the price to cover the cost of repairs you’ll have to make later. You may also ask the seller to pay some of the closing costs. But keep in mind that lenders may limit the portion of closing costs the seller can pay. Your negotiating power will depend on the local market. It's tougher to drive a hard bargain when there are more buyers than homes for sale. Work with your real estate agent to understand the local market and strategize accordingly. 14. Buy adequate home insurance Your lender will require you to buy homeowners insurance before closing the deal. Home insurance covers the cost to repair or replace your home and belongings if they're damaged by an incident covered in the policy. It also provides liability insurance if you're held responsible for an injury or accident. Buy enough home insurance to cover the cost of rebuilding the home if it's destroyed.