4 tips for selling your home in 2022

Agent immobilier

It is fair to say that the beginning of 2022 is not the best time to buy a house. Not only have interest rates gone up, but home prices are still at record highs, making them unaffordable for many buyers. Moreover, housing stock is still extremely low, so buyers don't have a lot of choice when buying their home.

But even though it can be difficult to buy a house, now is the perfect time to sell one! If you plan to sell your house this year, be sure to keep these four tips in mind.

 

1. Don't wait for interest rates to get too high

Although interest rates are currently higher than they were throughout 2021, they are still quite competitive from a historical perspective. But that could change as the year progresses.

If rates continue to rise, buyers may become more hesitant to purchase homes. Once that happens nationwide, property values ​​could start to drop. If your goal is to sell your home this year, it's worth putting your property up for sale as soon as possible.

 

2. Keep an eye on the competition

There may not be too many homes for sale in your area right now. But that could change as the year progresses. The more competition you have, the harder it can be to find a buyer – or to find a buyer willing to pay the price you want.

Pay attention to the volume of properties on the market, and if you see an uptick, you may want to consider putting your home on the market before the competition increases.

At the same time, be aware of the price of competing homes. You don't want your home to be the most expensive in the neighborhood unless there's an obvious reason for it – like having a significantly larger lot when most other homes don't.

 

3. Invest in simple repairs

You might be tempted to update your home before putting it up for sale to attract more buyers. But here's the problem with the works: you rarely recover all of your investment. If you spend $15 to redo parts of your kitchen, that could result in an additional $000 in resale value. But your chances of getting your full €10 back are pretty slim.

That's why you better focus on easy repairs rather than big jobs. If you have leaky faucets, replace them with newer faucets that don't constantly drip. But don't remove perfectly good cabinets or counters if there are technically no issues with them.

Simple repairs

 

4. Partner with a Realtor Who Knows Your Neighborhood

Since buyers are clamoring for homes, you might be inclined to sell your property yourself rather than working with a real estate agent. This way you can avoid what could end up being a substantial commission on the sale of your home.

But with interest rates rising, you might want to consider teaming up with a knowledgeable agent who can help you market and appraise your home appropriately. This is an especially smart move if you notice an increase in ads where you live. In some cases, a real estate agent may stage and present your home in such a way that you get more money for it, enough to cover some or all of their commission.

Plus, working with an agent could make the process of selling your home less stressful. This is especially true if you work full time and only have a limited number of hours in your schedule to coordinate visits from potential buyers.

You could end up having great success by selling your house in 2022. Or you might encounter challenges as the year progresses. Follow these four tips to increase your chances of a smooth and profitable sale.