With a new year, comes a new market. And it is always hard to determine at first what that market entails.
So to help you navigate through the new market of 2020, here are some tips and tricks when it comes to buying and selling!
Buying
1. Right Time
The most important thing in any market is to look into the right timing. Figure out when the sale prices are less, and when it is best for you personally. Evaluate your personal finances, so you know what time fits you right.
2. Budget
It is important to have a set amount of money before you go out looking for a house. After evaluating your finances, determine how much money you can spend on the actual house, and how much you will have to set aside for other costs, like moving etc.
3. Determine what you want
When you’re out house hunting, it is sometimes hard to keep track of what exactly you’re looking for. So make a list, of how many rooms you want, where you want the house to be, what the house should be close too, etc. that way, when you are looking for a house you can ensure it has everything you need!
Selling
1. Timing
Just like how it is important to know when is the best time to buy a house, knowing when the best time to sell is, is also important. Look for a time where the market demand is high, usually in the holidays, when family’s have free time. Another thing to take into consideration is when it is best for you to put your home on the market. Consider how you will have to take time out for things like open houses.
2. Evaluate Your Financial Spending Power
Before you put your house on the market, consider what is the best way to do it, from which you can earn top dollar and as much profit as possible. Another thing to consider is the costs of selling a house, for things like real estate commission, staging cost, closing cost, moving cost.
3. Prioritise
When people put their house on the market, they usually have one of two priorities – either they need it to sell quickly, or they need the most money they can get.
If it is timing that is your issue, you should consider putting your house selling price as less than other houses in the area, so people will come to yours quickly.
And if it is the cost that is what is your priority – you should be prepared to take your time and consider every offer before accepting any.
4. Prepare for Resale
To earn top dollar for your home, consider doing some touch up jobs to it before you put it on the market. This will make the house look newer so you can up the asking price.
Hopefully with these tips and tricks, your process of buying or selling in 2020 will be a lot easier! Good Luck!
