Starting From a Place of Strength When Selling Your House

Buying a house is fraught with stress and uncertainty, but selling a house is not exactly a walk in the park, either.  Prospective buyers lose big if the deal falls through.  Yes, the real estate agent will refund your earnest money if you don’t buy, but all those credit checks when you did not end up borrowing a mortgage do not do wonders for your credit score.  The most valuable things you lose, though, are time and hope.  House hunting is as time-consuming as a second job, and if you had spent that time working a second job instead, you could have earned more money and increased your chances of the sale going through.  For sellers, your worst enemy is usually your own expectations.  Unless you are in the business of flipping houses, then a good sale price is one the buyer can pay.  Hardly anyone sells a house in 2024 for less money than they bought it for decades ago.  Keeping your house on the market for a long time is a financial drain, so it is in your interest and the buyer’s to finalize the sale quickly.  Having your house in move-in ready condition when you sell can help you toward this goal, but which renovations should you make?  For help selling a house affordably and quickly, contact a Bronx real estate attorney.

Which Upgrades Should You Make to Make a Good First Impression on Prospective Buyers?

Qualifying for a mortgage is expensive enough, but many buyers must spend additional money on repairs and renovations before they move in.  By making those repairs before you sell, you make the house more appealing and affordable for buyers.  It makes sense to replace appliances that have been in your house for decades.  When it comes to remodeling, though, less is more.  Do not try to guess the buyer’s taste in interior decorating.  It doesn’t hurt to repaint your Great Recession era accent wall so that it matches the other walls in the living room, but generally, you should save your decorating instincts for the next house you buy.  Leave the old house customizable for the new occupants.

Should You Borrow Against Your Home Equity to Pay for Renovations?

They say that you have to spend money to get money, and some people follow that approach when remodeling their houses in preparation for selling them.  It is less expensive, though, only to remodel to where you repair things that need repair, especially if you would need to borrow against your home equity to pay for the remodeling.  Borrowing against your home equity for home remodeling is one of the least risky ways to spend a home equity loan, though.

Schedule a Confidential Consultation With a Bronx Real Estate Attorney

A real estate lawyer can help you increase the resale value of your home without taking unnecessary financial risks and finalize the sale quickly.  Contact Cavallo & Cavallo in the Bronx, New York to set up a consultation.

Sources:

investopedia.com/terms/e/earnest-money.asp#:~:text=The%20good%20news%20for%20buyers,get%20their%20earnest%20money%20back.

yahoo.com/lifestyle/11-upgrades-actually-house-harder-215200345.html