The real estate industry is strange- there’s no question about it! From the intricacies of buying a mortgage to the difficulties involved in selling a home, the space is rife with nuances that might seem like magic to a newcomer. Thankfully, there are plenty of tips you can take advantage of to make the most of this space and get what you need. Here are a few:
Keywords
By using words such as ‘luxurious’ for bottom-tier homes and ‘captivating’ for top-tier homes, you can add 8.2% to your home’s value. Be careful to avoid keywords that tend to lower sales prices, though, such as ‘unique,’ ‘tlc,’ ‘investment,’ or ‘potential.’
Names of the Streets
According to data from Zillow, homes on named streets tend to be 2% more valuable than numbered ones (not including New York City, of course). Main street homes, meanwhile, garner 4% less than America’s median home value, while street names with ‘Lake’ or ‘Sunset’ in the title sell upwards of 16% higher.
Return-on-Renovations
If you’re looking to make renovations in your home that will provide a great return on investment, consider a midrange bathroom remodel, which will typically cost around $3,000 and return $1.71 for every dollar spent. The worst home improvements you could make, meanwhile, are remodeling your kitchen or finishing your basement.
Timing
The timing involved in selling your home will make a tremendous difference in your ability to sell it. In New York, for example, the worst time you could sell your home is in the 2nd week of December, whereas the best time is during the Spring, especially in March.
Psychological Pricing Works
Listings with a nine in the thousand digit place ($450,000 vs. $449,000) typically sell 4-7 days faster than those that don’t have it. The key idea in selling a home at such a level is that would-be buyers will view it as being significantly less expensive (beyond the $1,000 difference that they’re seeing).
Source: NY Post