YOUR NEIGHBORHOOD NEWSLETTER
WINTER 2023
BUYING A HOME: HERE ARE 5 TIPS FOR NEGOTIATING Before negotiating the purchase of a home, you must look closely at the seller’s motivation and the current market conditions. Whether it’s a seller’s or buyer’s market, these tips should help you successfully negotiate a deal on a home.
ASK THE AGENT:
1. Begin by knowing what you want in a home. Decide on what kind of property you want and create a detailed list of what amenities need to be part of your new home. This will narrow your search and help you negotiate to get what you want. 2. Get preapproved for a loan so you know your budget and can negotiate within your financial limits. Account for your cash funds so you can factor in projected closing costs, needed renovations and other fees. 3. So you can make a reasonable offer on any properties of choice, first check out the real estate market to see what may fulfill your wants and stay within your budget. Get to know the sales history of comparable properties and the active competing inventory so you can substantiate any reasonable offer. 4. Find out the seller’s motivation for selling and how long the property has been on the market. The price will be easier to negotiate with this information. 5. Think of your negotiating as trying to close on a business deal. Refrain from letting your emotions get in the way of your decision-making so you can get the best result. Please contact me at 571-336-0088 so I can help prepare you to successfully negotiate on the purchase of your next home.
What Are the Pros and Cons of Staging a Home for Sale? When deciding if staging your home is the right move for you, you need to evaluate the pros and cons before you make the budget and time commitment to do so. Statistics show that staging a home enables it to sell faster and for a higher price. The return on the investment in staging can be fourfold. Your home will have better visual appeal without the influence of your personal lifestyle. Marketing photos of a staged home will increase buyer interest. Buyers are more motivated to buy because they can better visualize themselves living in the home. Cost will be the biggest disadvantage of staging a home. This is especially so if you have a large home and need to include some outdoor living spaces. A conservative cost to stage is $300 to $600, but expect to pay as much as $3,000 per month for a 2,000squarefoot or larger home if furniture must be rented. If you need to declutter and store your belongings during the marketing period, there is the additional cost of storage.