A house is not just a combination of rocks and bricks to shelter you during days and nights – but it is also an investment. With the right home buying & pricing strategies, there is no doubt that your property in the capital will land the best deal and offer.
One of your queries might be “How can I sell my house fast in Washington DC?” If you want a speedy deal, you might end up selling your house for a not-so-worthy cost. In this regard, you have to plan carefully, and lay out some pricing strategies to get higher market returns.
Vice versa, if you want to buy a house, you also need to be wise and think rationally. There are always factors that you need to consider and conditions to meet for a perfect home sweet home. Again, you will not only be investing your time and effort, but as well as your money. It may take time to find the right house for you, but calculating the benefits and return that you will have can be determinants for choosing. What are these? Read more below!
Home Buying Strategies in Washington D.C.
1. Find a Trustworthy Realtor
When choosing a real estate agent, you should not think about business only. Treat your realtor as your home buying partner, who understands your preferences and conditions. In particular, a professional agent is a huge help for you as they are aware of the things that you probably don’t know. This includes how the real estate market moves. As they are already experienced, they can lay some techniques on your platter to end up with the best deal. Also, use trusted resources to find agents near you. Evaluate their real estate experience and make sure they know your local real estate market. ·
2. Set your Financial Status
In the D.C. area, the average house price is about $600,000. But don’t fret, as you don’t need to pay it in one go to have a house. This is the reason why you need to assess your finances and budget. If you can’t afford to pay in cash, you can apply for a mortgage or government-issued loans. If you have money but it isn’t enough, you can rent it. In this system, you’ll be needing to pay the down payment cost, and pitch in a monthly rate in a span of certain years. This will, of course, depend on the agreement you will have with your seller.
3. Determine the type of Home You Want
Next, you need to consider what kind of home you will go to. Are you in for a house, a family unit, or maybe a condominium unit? Would you rather prefer a house owner-based building, or you want a tenant?
Such questions about the location, access to school, work, medical facilities, stores, restaurants, gym, etc. will also be helpful for you to choose the type of home that you want.
4. List Down the House Features You Want and Assess your Priorities
As you invest in your house, you also need to assess your wants and needs. Expect this one to be a battle between yourself. Ask yourself, “What are the things that I want?” As you list it down in your mind, ask yourself again, “But do I need these things?” Through this, you will be able to downsize the things and features that you both want and need.
5. Check your Neighborhood
This is actually a must, but in case you forget it, you really need to check your neighborhood. If you will be commuting to work or school, the level of traffic congestion in your area should be considered. You might want to research about the crime rate that happened in the neighborhood as well to assure your safety and security. Another thing is knowing your community. Washington is a huge area that carries different races and kinds of people. This will help you to prepare yourself just in case you get a culture shock.
Pricing Strategies in Washington D.C.
1. Determine the Value of Your Home
In the real estate market, an investor doesn’t just buy a house because it’s attractive, rather due to its worth. If you can’t even determine the value of your price, then you can’t say that you are pricing it correctly. Assess your home’s history, age, and significant attributes that are unique to other houses in the listings.
Of course, you can’t do this by yourself. You will be needing an ally, your real estate agent. Relatively, their experience speaks a lot, as they understand the market the most. Alongside, they also have more connections that will make it easier for you to find potential buyers.
2. Create a Price Range
Pricing your house is the most nerve-wracking part when selling a house. This is the confusing part and full of doubts about whether you overpriced or underpriced your home.
When creating a price range, you need to consider its type and size. According to Haus, a good tip is pricing your house below its market value. This is because it can attract more potential buyers. Another strategy is pricing it with “99” numbers. Have you ever bought something that costs $49.99 more than the $50 ones because it feels cheaper than the latter? That’s the effect that you need to aim for.
Along with this, you can also take advantage of listing filters. Most people search for items like this: “Homes near me below $600,000.” If you will put a price at about $597,000, then your house will attract more activities.
3. Sell Your House in Right Timing
Selling your house at the right time will affect its price as well. In context, if you sell it during weak selling seasons, you might end up closing a deal with a lower price. However, if you choose the peak season of home buying, you can raise your price to the best offer. In Washington D.C., the busiest home buying seasons are during summer or spring. You need to act during this time then.
But if you are eager to sell your house fast, we buy houses at 8 Day Home Sale! Just proceed to our website and find a fair offer within 10 minutes.
4. Market Your House Value
Mind you, buyers are now skeptical with dealing with properties, so you need to act ahead of other competitors. Using the right tools such as social media platforms, market and prove the value of your home. You can either provide a report showing a home valuation and the actual appraisal of your house. Provide evidence and facts that talks about the importance of your house, not only to you personally but in the real estate market as a whole.
5. Present Clear and Transparent Terms
As you get offers, you will have to decide what kind of terms you want to go with. An example could be Buyer 1 has a higher offer, but Buyer B has least to no contingencies and demands. You will need to weigh whether to choose an offer higher than your initial price, or lessening the risk to the deal.
As a seller, present a concrete, direct to the point terms and discuss it with your real estate agent. In this case, you will be able to focus more on the buyers that meet your standards and have a mutual agreement with your terms.