Pulling up Stakes: How to Get the Most out of Your Investment
Monday, May 27, 2019, 6:00 AM | Leave Comment
When your home is your investment, you have to take certain steps when you decide that you want to cash out.
In order to get the most out of your investment, the market needs to work in your favor.
Here are some of the ways that you can help to increase your chances of making the most off of your home investment.
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Examine the Market
There are certain times of the year that make it easier to sell your home. Some of the best times to list your home are during the spring and into the early part of summer. This is because the good weather is more likely for other people to consider making an investment of their own. Examining the state of your local housing market will give you a better idea about the right time for you to list your property.
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Set Your Price
The price point that you set on your home can work to bring in more interest. This has to be a carefully balanced number so as to attract buyers without having the price being too high. In some markets, pricing on the lower end can generate a large amount of interest and work to increase the sale price. Selling your home on the real estate market will also help to increase your visibility to a wider pool of buyers.
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Increase Demand
A few well-placed upgrades to your investment property can increase the demand. Look at some of the homes that are for sale in your area so that you can get a better idea of what’s available. Making your home appear nicer and better maintained can help you to get the most out of it. This is because buyers will see that for just a little more money that they can get a better home.
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Wait it Out
It may be tempting to lower the price on your home too early if you don’t see a lot of interest being generated. Waiting a little bit longer to sell real estate can help you to make more of a profit. Be prepared to wait it out so that you can make the most of your home. Some markets take longer to move inventory than others. Determine the median time for homes being on the market before you lower your asking price.
The point of an investment is to make it work for you. Use these tips so that you can make the most out of your home when it’s time to sell.
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Rachelle Wilber is a freelance writer living in the San Diego, California area. She graduated from San Diego State University with her Bachelor’s Degree in Journalism and Media Studies. She tries to find an interest in all topics and themes, which prompts her writing. When she isn’t on her porch writing in the sun, you can find her shopping, at the beach, or at the gym. Follow her on twitter and Facebook.
