Guest article from Seth at Papa DIY.
While shows like Fixer Upper present both the gritty and glamorous sides of remodeling in Texas, it’s hard to discern just how much you’ll need to put into a home in order to make it attractive to a buyer. If the house isn’t in great shape, you’ll either have to put money into it or come down on the asking price, because buyers won’t haggle much. Also, there are laws in place that prohibit any new construction on a standing dwelling if it is within so many feet of a power line or other utility, so consult a contractor to make sure what you have in mind is feasible.
Photo via Pixabay by MarkThomas
"Some sellers think they can overprice and they'll negotiate down. But buyers in this market have been beat up, and think sellers don't come off their price much, if at all," explains Aaron Farmer, owner of Texas Discount Realty.
The time of year will also have a big effect on how many offers you get; fall and winter are the slowest times for buyers to look, while spring and summer are the busiest. The warmer months will dictate how much interest you can generate in your home.
Because there will likely be a lot of traffic coming in and out of your house, staging is key. Some North Austin properties built in the 1960s and ‘70s might need important works like the removal of a wall or popcorn ceiling to sell well. But if your house is in good shape, you probably won’t have to go very far out of pocket to make it look inviting and appealing. Simply having a clean, open home that smells good and has sparkling upgrades--such as newer faucets or light fixtures--will do wonders for your asking price.
The outside of your home is just as important as the inside. Curb appeal could make or break a sale, so clean up the lawn and do some light landscaping. Make sure gutters and shutters are in good shape, repair any cracked asphalt or stones, and give the front door a new paint job to cover any scratches.
One of the most important things to keep in mind about the Texas seller’s market is that the entire process tends to move quickly. Because buyers are prepared to move in as soon as possible, you might be done with the sale in thirty days or less, meaning you’ll need to have your new accommodations secured well before hand. If this isn’t possible, consider a lease-back agreement, which would allow you to rent the property from the buyer for a short amount of time so you can get your affairs in order.
Finally, make sure you’re familiar with Texas laws regarding deeds and ownership before you put your home up for sale. Knowing what to expect and being well informed about the laws will help you get through what can sometimes be a tricky process.
By Papa DIY