Maximizing Real Estate Profit

Maximizing real estate profit when you move on to your next home is so important. Not only can it determine how much you can afford in your next house, it also impacts things like savings and retirement. The last 10 years have been a roller coaster in the housing market. Some people I know have been on the great side of that. They were able to buy low and sell high, or they are living in a home that has increased in value and they now have equity. Some other friends I have are on the negative side. They bought when things were high, suffered through the crash and are now slowly watching their homes build more value. No matter what side you are on, one thing is for sure. When you sell, you want to do everything you can to get top dollar.

Improvements – Maximizing Real Estate Profit

Really take a look at what will make you money on your home. Not every improvement will pay off. Gone are the days of every little thing (think fancy light fixtures or higher quality counter tops) making your home worth more. Do your research and ask a Realtor you trust. Adding on a bathroom, porch or patio or garage will  often pay off. A fresh coat of paint is a small investment that adds appeal to your home. Know your numbers, improvements can save you, but they can also cost you.

Choose The Right Professionals – Maximizing Real Estate Profit

Nothing is worse than a *bad* Realtor. Hire one you trust and get a referral from a satisfied friend. Know the marketing plan for your home and what they have to offer. Do they themselves have a lot of buyers that may be interested? Do you see this person active on social media advertising their professional interests? Having your home on the market for a long time can cost you. It can also be inconvenient. Once you have sold and are ready to move, a messed-up closing or disorganization can cost you your new home PURCHASE as well. Know who you hire!

Planning Your Move – Maximizing Real Estate Profit

Sometimes life happens or the right home just comes along. However, you can save yourself time and money by planning out when you move. Ideally a year or two in advance. This will help you stick to your budget, make improvements over time and save up for a down payment to get a less expensive loan and avoid PMI. Sometimes a few extra years in a home seems impossible, but don’t forget to take into consideration your family’s financial well being first!