One question I have been asked recently is
When is the right time to prepare my house For Sale?
The answer to this question is similar to the answer to "When is the right time to save money?" Begin as soon as possible.
What I mean by this is you should always have a sense of how much your home is worth, not just the
appraised value determined by a
certified appraiser and used by your
lender to determine what percent of your home you own versus owe; nor just the
assessed value determined by your local tax authority (usually your town) to determine your home's tax rate; but also the
Comparative Market Value,determined by a
Real Estate Professional who compares the features of
your home with those of
similar houses that have
sold recently (usually within the last 6 months) and prepares a
Comparative Market Analysis or CMA for you.
To get a
CMA, Contact your favorite
Real Estate Agent and ask him or her to help you
determine the price you should be able to get if you were to
list your house today. Then take a look at your house and ask your self the following questions:
* What is the
general condition of your home?
* What
major repairs do you anticipate within the next few years? Are you on year 18 of a
20 year roof? Is your
siding in good condition? Are there major cracks in your
foundation?
* Does your
Kitchen have
matching appliances that are in reasonably good condition? Are your
counter tops and cabinets in good shape? How do your
bathrooms look? What repairs might they need?
* How is your
curb appeal and what is your yard like? Would it benefit from some minor
landscaping changes such as some
established flower beds or some mature trees? Do you have trees scraping your house that really should be cut back or removed?
By determining which of these features are in great condition, good condition, and poor condition, you can set a priority list of items to work on over however much time you plan to live in your home, whether it is another twenty years or twenty months. This will also allow you to budget your time and funds appropriately for your lifestyle.
If you live in New Hampshire,
click here to begin the process of getting a Market Analysis of your home.
