When you live in paradise, it is difficult to consider a move. In fact, Newport Beach has one of the lowest housing turnover rates in the country. Many homeowners reach out to me when they are ready to downsize or move to a neighborhood that suits their current needs. Preparing a property for sale often takes a surprising amount of forethought, planning, market knowledge and work. Despite low interest rates, and consistent demand, some properties linger on the market, while others close quickly and smoothly. Here are some of the factors to consider when deciding to list your home.
It is essential to consider the tax implications of selling your home. Propositions 60 and 90 let homeowners bring their tax status with them for one move under certain circumstances. I recommend discussing long-term financial goals with your financial advisors before placing your home on the market.
First impressions count. Trimming trees, planting flowers as necessary and checking for any outside repairs is a relatively simple and low-cost way to attract buyers. An unkempt or outdated yard sends the message that the house needs work and could affect the list price.
Color is the least expensive way to update your house. Use colors that reflect current trends. For instance, whites, greys and blacks are now more popular than browns and tans.
Kitchens and Baths
New counters, fixtures and appliances can transform the look and feel of a property without a total renovation and entice buyers looking for the latest in convenience and style. It’s also a good idea to check faucets and other plumbing to ensure there is no moisture or water damage.
Hiring a staging company often leads to a higher purchase price. Professional staging also allows potential buyers to envision themselves living in the home with updated furnishings, wall colors, art, and more.
Work with an Agent you Trust
Pricing your home right from the start will help it sell quickly. A knowledgeable real estate professional will identify factors in property updates and improvements that will help you price it correctly.
Carol Lee, Global Real Estate Adviser CA BRE 01402855, 949.395.3994/Engel & Voelkers/CarolLeeGroup.com