Often, most people only think of the money they'll receive once they sell their house. But that is just not it. Some expenses come about due to the sale.
For instance, take the cost of hiring house moving services, real estate agents, legal fees, buying a new home, and so on.
Here are eight tips that will be of help to sell your home and not end up cashless.
1. Reducing daily expenses
You can cut back on certain expenses that are not basic, such as buying expensive meals or spending on parties or days out that are not essential.
Forgoing these non-basic routine expenses can lead to a great deal of savings. This extra money will come in handy during the sale of your home and the fees associated with buying your new home.
It’s only a temporary lifestyle change and once you are moved and settled then you can splurge your disposable cash once again if you wish.
Here's a huge list of money saving tips to get you started!
2. Selling at a reasonable market rate
When selling your house, you should consider the market rates. Setting a price that reflects the current market rates is advantageous as buyers will be willing to buy at a fair price and you may sell quickly.
Selling your house at a higher price than market rates makes buyers shy off. Your home will stall in the market, causing you to incur maintenance costs for attracting buyers.
On the other hand, selling your home at a lower price lowers the value of your home and leaves you out of pocket, so make sure you set a reasonable and fair price and allow for some negotiation.
3. Home buying companies
To save on the costs of hiring real estate agents, you could opt for selling directly to a home buying company like We Buy Any Home. It allows house owners to sell without agents and enjoy free cash offers, the benefit of not paying agent fees, and lastly, the service of their house being sold in any condition in any location.
4. The ambiance of the home
At first glance, your house and its surroundings should be pleasant to the eye. This is what attracts buyers, so you need to give a good first impression.
Its appearance should portray the quality you advertised, so you will need to keep this up this standard for the viewings.
By maintaining a great look inside and out, any potential buyers will see what they expect at the viewings and not have any surprises. It will make you sell your home faster. Thus, you will avoid continuous beautification costs.
5. Right real estate agent
The selection of a real estate agent matters in cost-saving. Going the traditional way of using agents from a physical location is quite costly.
To avoid additional expenses, you could opt for online real estate agents. Since they don't have material location costs, they charge fewer fees.
Bear in mind that you can often negotiate estate agent fees. Negotiate the amount most favourable for you so that you save some money.
Online or physical, the credibility of the real estate agent matters. You could hire an agent who would want your money but not give you honest facts about the market. Misinformation could result in losses for you as a homeowner. You should, therefore, research and find out which real estate companies have good reviews.
Compare them in terms of delivering desired results and make a selection. Getting a credible real estate agent who sells your home at the right price and presents it well for a swift sale will save ongoing costs.
Be sure to reach out to more than one estate agent to compare services and fees before making a decision.
6. Become a buyer
To avoid the ongoing maintenance costs of a stalling house in the market, you have to act like a buyer.
You have to think of what the buyer would like—the kind of paint and the house's condition, and so on.
You should repaint the house, or touch it up where needed, do repairs and improvements.
Buyers usually want homes ready to move into, rather than those that will need them to do repairs before settling in.
The longer your house is on the market, the more the house prices will rise for your next move, increasing costs all the time.
Get into the mind of a buyer and look at your house from their point of view.
Deciding when to list your home is also important. Most people aren’t looking to buy over Christmas and the holidays, so if you list your home for sale in November then you’ll probably not get any interest until January or after, so it’s a waste of time and stress.
Instead, spend this time preparing your home for the market and list once Christmas and New Year are out of the way.
8. House moving services
Last but not least, take into consideration the costs associated with moving out. You could move out of your house by yourself, hire house removal services or a professional man-with-a-van service depending on your needs and quantity of stuff! It’s always best to compare the prices of house removal services from different companies for the right deal for you.
Compared to hired house removal services, moving out by your means is a giant cost-cutter. You won't be paying any money to anyone except for fuel and for van hire. If you hire the right size van then you might even be able to move everything in one journey. Or another great tip is to move the smaller boxes yourself and hire a man-with-a-van to move your larger pieces of furniture, particularly if it's just a studio flat's worth of stuff.