Hate Your New House? Here’s How To Sell It Quickly and Easily
Buying a house has been getting more complicated (and pricier) for many Americans, at least partially due to inflation, low inventory and rising mortgage rates. Still, a recent survey finds that 72% of polled homebuyers have regrets about their home purchase.
So, what can you do if you hate your new house and want to sell it quickly?
Zillow detailed a few tips to increase your home’s marketability, decrease its time on the market and attract strong offers. A few of these tips follow.
It’s All About Appearances
First, Zillow recommends cleaning and decluttering, especially if you’re short on time to sell.
Staging the house is also crucial. According to Zillow, 48% of recent buyers said having the home staged is “extremely, very or somewhat important to their home-buying decision.”
In addition, Zillow notes that 22% of sellers who make improvements to the home sell above list price, compared with 16% of sellers who don’t.
In terms of improvements you might undertake, painting the home’s interior is the most common update sellers engage in (36% of those polled said so), followed by landscaping the yard (29%), replacing or repairing carpeting or flooring (26%) and making improvements to the bathroom (26%).
Choose a Selling Strategy That Works Best for You
The most common options are selling “for sale by owner” (FSBO) or with a real estate agent. Zillow points out that in bypassing an agent, you will save on the commission. However, hiring an agent will likely save you some headaches and will streamline the process — which in the end might result in a faster sale.
Another strategy is to sell to an investor, which could also save you time as “you can expect a quicker close, an as-is sale and an all-cash offer,” Zillow notes. However, beware of scams and make sure you conduct proper research before considering this avenue.
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You could also sell to a so-called iBuyer (instant buyer), which is a company that uses technology to make an offer on your home instantly, according to Opendoor.
Realtor.com explains that, usually, you will receive a cash offer within 24 hours on your home when selling to an iBuyer. There are downsides, however, namely that you might make less money on the sale.
Be Ready to Lower Your Asking Price
If you’re in a hurry to sell your house, Zillow recommends you set a timeline to lower your price if you don’t receive any offers.
“The longer your home is on the market, the lower your odds are of selling it for listing price,” Zillow notes.
Alternatively, offer to sweeten the deal with additional repairs or included appliances.
Is There a Best Time to Sell a House?
Interestingly, Zillow says that homes listed on a Thursday sell faster and are more likely to sell above list price than those listed on any other day of the week. On the other hand, Sunday is the worst day to list for a quick sale, as homes listed on that day tend to stay on the market for 8 days longer than homes listed on Thursdays.
March is statistically the best month to list a property if you want to sell quickly, while July is the best month to list a property if you want to maximize profit.
Zillow says it recommends listing your home for sale in March (or during the summer), but no later than Labor Day.
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