Tips for Selling Your Coconut Grove Home Faster
Every home owner has to pay certain carrying costs every month the house is on the market. There’s the mortgage unless you’ve managed to pay it off. You’ll have to keep the grass cut and the pool clean, and other forms of maintenance may be required. Depending on how you have the payments structured, you may have to pay homeowners’ insurance premiums monthly, quarterly, bi-annually or annually. Taxes accrue and are due at the end of the year. Every month that goes by results in a larger amount you owe for both of these bills when the home sells. HOA dues may be owed, as well. This means that you have a financial incentive to sell the home as quickly as possible. Here are a few tips for selling your Coconut Grove home faster.
There is a delicate balancing act when you’re trying to sell your home. It has to be clean, of course, or else a great home can be discounted as a fixer-upper. However, the potential buyer has to be able to imagine themselves living in the home to fall in love with it much less bid it up. This means you need to remove the personal effects that make the home yours, since this turns off home buyers. But don’t empty out the property, because it can seem hostile to home buyers. Stage appropriately. For example, have made beds in the bedrooms and a few pieces of clean furniture to clearly indicate the purpose of the room. Don’t allow any space to seem too specialized. For example, have a bedroom with a large desk that’s too much of a hassle to move, but don’t seem to reduce the bedroom count by turning it into a de facto office. If the room has a dedicated purpose, try to make it seem like a general purpose space like a living room or play room.
Attract the International Customers
One of the best ways to quickly move homes for sale in Coconut Grove is to attract the international customer base. These can be people who want to buy an investment property in the United States, moving here for work, or seeking a second home in case they want to visit regularly or want a place to wait out turmoil back home. The international community in Miami also means that you might end up selling your home to an American coming back from an international stint or immigrants buying homes to house relatives coming to the country.
Price the Property Competitively
There’s always a sweet spot for home prices. You will lose out to the competition if someone has a similar house listed for a few thousand dollars as long as all other things are equal. Always keep track of real estate prices in your area and be willing to lower prices if demand is soft. Consider options that make the home purchase a better deal such as throwing in a home warranty or paying more of their closing costs.
Resist the temptation to redecorate, or worse, renovate in the hope that it attracts new home buyers. If you have damaged walls, an inconvenient kitchen or difficult to access bathroom, then make strategic repairs and upgrades. But don’t dump 20,000 dollars into a kitchen renovation because you merely think it will attract home buyers. And be careful not to install a hot tub or wine bar that’s a turn off to part of the market. Invest in things that help you meet requirements in the home inspection instead. For example, replace the air conditioner that makes a lot of noise or troubleshoot the fuse box that keeps getting tripped.