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The Complete Guide to Making Money From Your Home

The Complete Guide to Making Money From Your Home

Did you know that 95% of homeowners selling their homes find the process stressful?

Selling a property can be time-consuming, and costs can quickly add up. But the process of making money from your home doesn't have to be costly, drawn-out, or confusing.

Continue reading for a guide on how to sell your home.

1. Understand the Local Real Estate Market

It's essential to understand the trends in your local real estate market. You can use online resources to get valuable information about home prices, recent sales, and market activity. Conduct an in-depth analysis of your property and the local community to determine your home's value.

An agent may have extensive knowledge regarding your local market but will usually take around 5-6% of the total sale price if you hire them. Alternatively, you can choose to do the sale yourself.

2. Consider What Repairs Must Be Done

You shouldn't waste money on needless upgrades, but consider which repairs are necessary to make it more presentable to prospective buyers. If they notice apparent repairs, they'll wonder what the more significant issues they cannot see are. And making the repairs in advance can also expedite the closing process.

The selling process will often include fees, primarily selling with an agent or hiring a real estate attorney. But if you're looking for a hassle-free and quick sale, we at AZ Home can help you by buying your house for cash as-is.

3. Make Inexpensive Cosmetic Upgrades

It's also a good idea to create an updated look by updating hardware and adding a fresh coat of neutral paint. A new carpet can also help make an excellent first impression to maximize your home's value.

Clear the clutter because a cleaner home looks bigger, and potential buyers will assume your home is well maintained.

4. Set the Right Price

Be sure to sell at the right time, and make sure you've set a realistic asking price. The most common error for sellers is asking too high a price. You can scare off buyers, and price reductions may make them suspicious about the property's merit.

On the other hand, a too low asking price will usually receive multiple offers that can drive up the price. Consult an appraiser to assess the fair market value of your home.

5. Anticipate Closing Costs and Taxes

The buyer and seller both have to pay closing fees. It's much better to anticipate the figure instead of being confused and disappointed at closing.

On top of any agent fees and commission, you should also consider other costs commonly paid by the seller. To name a few, you'll likely have to stump up recording fees, outstanding liens, a transfer tax, and any attorney fees.

Making Money From Your Home Made Easy

And that's your short guide complete. Making money from your home doesn't have to be stressful. Be organized and prepared, carry out the necessary work, and negotiate a deal that works for you.

Contact us if you prefer to sell your home as-is for cash and don't want to pay commissions or fees.