There are many ways that can save you money when you are looking to sell your house in New Jersey. In our latest post, we share some of these cost-cutting tips that can save you potentially thousands on the sale of your home or investment property.
Selling a home in the New Jersey area can get expensive. Everyone’s experience can be dramatically different when selling their home. While some properties perform well on the MLS with minimum cost, others require much more work and strategy. Below are some great ways you can save money when selling your New Jersey area property.
Work with Investors
Working with an investor buyer will help you avoid many of the closing costs you would typically encounter when selling your house with an agent. By avoiding the MLS, you can save upwards of 6% of the gross sales price which can add up to a lot of dollars. Of course, not all buyers are the same, so this particular option is only good if it’s the right fit. However, if convenience is what you are after, and your home is in need of many repairs, this could be a desirable option.
Selling the house on your own via an FSBO listing can help you avoid the commission costs you would typically pay a local Realtor. To sell your house as a “for sale by owner” property, it is important to have some real estate knowledge under your belt. You should know the local market, set a realistic sale price, and be able to professionally show the house as needed. It will require your time, especially if you need to take the time to learn everything first. Also, be prepared to carry the house longer, and field a lot of calls from local agents that want your listing!
Should you decide to list, the house should be thoroughly cleaned. You will want to go beyond just a standard cleaning, taking it the next step by cleaning things such as the ceiling fans, the tops of cabinets, and stains from the carpets. Many people choose to hire a team of professionals for a true deep cleaning of the home. Since this post is about ways to save money, you can do the cleaning yourself which will save the cost of professional cleaners and help you sell your home faster. Keep in mind that when you list, you will need to keep the house in this clean state for as long as the property is on the market.
Be Strategic with Repairs and Upgrades
When making repairs and upgrades to a house you wish to sell, it is important to be strategic. Many times, when one projects starts, another one begins. You want to do the best you can with limiting repairs to give yourself the best chance at recouping the money spent. It is best to stick to minor repairs that will pact the biggest punch. Two great areas to focus on are the front yard and the entryway. These two areas provide first impressions and set the tone for the rest of the showing. You will want to stay away from knocking down walls or doing a kitchen renovation.
Sell Your House In “As-Is” Condition
When you choose to sell your house in “as-is” condition, you will avoid any repair costs that come up when selling the house. The trouble is, you may not be getting it in front of the right buyers should you put it on the MLS. Most retail buyers looking on the MLS want a house that they can immediately move-in to. These buyers will certainly pay more for a house than an investor, but if the house is in disrepair, you may only be receiving investor offers. At this point, you may want to try going with a direct buyer yourself rather than paying a Realtor to do it for you.
Know Your Stuff
There is always a price to put on knowledge. When you know who is buying in the area, it makes it easier to market to them. Families are looking for different things than college students are. Empty nesters might be wanting something slightly different than young, singles. Take a look at the demographics of buyers and renters in the area and market your New Jersey house accordingly. By attracting the right people to your house, you will have a much easier time selling it.
Free And Low-Cost Marketing Tools
While many listing sites charge an arm and a leg, you can use social media sites to advertise your property for free or for a very small charge. Many people today are spending hours on social media sites. Why not take advantage of these mediums and get your house in front them without even trying very hard? You could advertise your property for sale on Facebook and in local real estate groups. Or you could use great photography, advertising the property on Instagram with the proper hashtags. Some people will create videos to share on YouTube or other social sites.