Optimizing Property Profit

Selling your property and getting the most money your property can command aren’t exactly the same things. However, different selling solutions will be more or less appropriate for different property owners. As an example, somebody selling a house to move to a location with a better job may lose money waiting around.

If you’re going to lose $20k waiting around four months in terms of potential wages or salary reduction, then maybe sell the house for $20k less and move quicker. However, if you’ve got more flexibility than that, you could be leaving $20k on the table.

Which way to go will depend on your situation, consultation can be helpful. That said, generally, the following tips apply to most properties as regard price optimization.

Consider Remodeling Or Refurbishment

Remodeling your property, when you go with the DIY approach, can do a lot to expand the value of a given home or even a residential building. Residential remodel usually involves more “commercial” upgrades, but it’s an option.

Whether you go with a full refurbishment or remodeling in specific areas will depend on your property. Crunch the numbers and try to get more value than the cost involved in the construction, and you’ll see Return On Investment (ROI) from what you do in this area.

Get All The “Honey-Do’s” Done

Beyond basic remodeling or refurbishment, look into painting the property inside and out where applicable. Replace lightbulbs. Fix flooring if linoleum has curled up. Maybe replace the carpets.

Finish the basement. Finish the attic. Do all the “little things” that make a home look good before you get it inspected for listing; that will help you command a higher price.

Get Your Property In Front Of The Most People

Check out this flat fee MLS California post to get an idea of how you may get your property in front of the most eyes the fastest, and in the most simple way. The more people can see what you’re selling, the greater the likelihood you’ll get a buyer in a reasonable amount of time. The faster you can sell, the less you’ve got to “tread water” with an unsold property.

Just maintaining a property without selling it can be very expensive, so it’s wise to pursue every possible avenue toward moving it you can.

Landscaping Expands Curb Appeal And Asking Price

Estimates of effective landscaping put the potential positive impact of doing the job right in the tens of thousands of dollars for most properties, even for those that aren’t traditionally considered to be of a high value. If you can spend $5k and pull $17k of property value from that expense, it’s definitely worth it.

The Time When You List Can Impact Salability

Listing between October and February isn’t generally a good idea. People don’t tend to buy in the winter. March and April can be variable depending on your local market. Generally, between May and September is when most people buy, with an emphasis on the first two months of May.

So what you might want to do is list your property around the end of March, or in early April. Get some advice from consultants for the best results as pertain to your particular area.

Getting The Most Value For Your Property
Listing at the right time, landscaping, making your property visible to likely buyers, finishing any associated “honey-do’s”, remodeling, and refurbishing where appropriate all represent fine ways of expanding the amount of money you can reasonably ask for your property.

As the saying goes, all hard work leads to profit: go the DIY route, and you’ll maximize what you can ask cost-effectively.