For people who are planning to sell a home, it is important to understand the tax implications that come along with selling a home. It’s also important to be aware of structural and cosmetic flaws in a home and neighborhood that could affect the asking price or cause a property to languish on the market.
Here are six tips for home sellers to avoid mistakes:
- Make your home neutral. If your interior or exterior walls are painted with bold colors or textures, it may turn off sellers. They want to be able to imagine themselves living there, and it could be hard if the colors clash with their ideal. It might be worth toning it down with a more neutral palette.
- Make reasonable repairs. If there are some obvious flaws with your home that are going to be a turnoff to buyers, such as a damaged roof or broken windows. Mismatched appliances, cabinetry and plumbing fixtures stand out. The same goes for worn floors or carpeting. If you can afford to make some more extensive repairs or remodeling projects, it may be worth it. But choose carefully, as some home remodeling projects have a better return on investment than others.
- Finish your remodeling projects. If you started a job and didn't complete it, most people won't want to take that on themselves, even with a significant reduction in price.
- Have your home professionally staged. Professional home stagers know how to maximize space and show off a home's strong points, while downplaying its defects. One place they’ll ask you to start is by decluttering.
- Pay attention to curb appeal. The front of your home is...