6 Things to Know Before Selling Your Home in 2022
The real estate market is hot right now! The pandemic allowed people to rethink their lifestyles and look for more space. Technology proved that jobs can be done remotely and motivated some workers to relocate to Hawai`i. These factors affect real estate sales, so if you're planning to sell your home in 2022, here's what you need to know.
1. Get a Great Realtor to Market Your Home
Most property research is done online, so having a digitally savvy Realtor on your side is vital. They should:
- Stage your home.
- Take professional interior, exterior & drone photos.
- Create a virtual tour.
- Manage inquiries and the selling process.
- Implement digital marketing tools that will show off your home to buyers around the world.
2. Prices are Up, but...
If you're selling your home, the good news is that prices are rising and homes with bonus spaces, like offices, are in high demand. The downside is that if you're buying a home, you may not be able to afford what you could five years ago since prices have increased. That's why planning and budgeting is so important in determining if it's the right time to sell.
3. The Need for Speed
The demand for homes means that houses can sell faster than you think, so work with your Realtor to plan your next steps in case of a quick sale. For example, make sure all your documents are up to date so they don't delay your sale. Think through scenarios such as temporarily storing your belongings or renting a property while you look for your next home. If you get a great offer, it would be a shame to decline it because you don't have a plan.
4. Give them Space
The pandemic left people confined in their homes, leading to a craving for more space. If you're selling, radically declutter your home so it looks large and spacious. Trends on a home buyer's wish list include open concept living and an office space. While you don't necessarily need that to sell your home, decluttering lets buyers see the full potential of the space.
5. Germ Free
The pandemic also taught us the importance of keeping things clean. People looking at real estate today want tidy homes with clean surfaces that can be wiped down easily. Give your home a deep clean after you declutter to create a fresh and appealing look.
People are also avoiding extensive renovations right now, so make sure your property is up to date with maintenance and warranties. You don't need a complete renovation to sell, but cleaning and de-cluttering make a big difference.
6. Attract Millennials
One of the trends affecting the real estate market is the increase of Millennials buying homes. They do most of their research online and are not only looking for bigger and more up-market homes, but also want sustainability. Features such as solar panels or garden spaces to grow food are very appealing to these buyers.
Have Housing Prices Peaked?
During the height of the pandemic, home prices rose significantly. But things won't stay the same forever. Ask your local Realtor about current trends to determine the right price.
Interest rates remain low but could increase with the financial recovery of the post-COVID pandemic. So, timing of your sale is vital!