Investing in real estate often means purchasing and renovating distressed houses. When it comes to selling the home, it may seem that the hard work is over. While that’s mostly true, making mistakes at this stage can mean not getting the most out of the effort you’ve put in thus far. It can be easy to make these mistakes; and they can cost you.
Overpricing for the Market
Investing in real estate can be a stressful ordeal. Obviously, you want work and money you’ve poured into a property to pay off, and pay off big. However, it can be easy to assign too high a price to a home you’ve spent so much effort to renovate. Be sure to have a current comparative market analysis for the home, and base your list price on the hard numbers within it.
Ignoring Curb Appeal
Rejuvenating a distressed home can take its toll on the property. You may need to address damage to fences, lawns and landscaping as the final step in your renovation before you list the property. Also, pay attention to outdoor features such as the mailbox, house numbers and porch light. They may need to be repaired, repainted or replaced to make the home look its best.
Not Clearing the Air
Be mindful of the smells your remodeling has created. While potential buyers love the look of fresh paint and new carpeting, no one wants a home that smells of chemicals. Air out the home thoroughly after you complete the work, and as often as possible while it’s on the market.