These four tips will help home sellers find success in today’s market.

If you’re planning to sell your home in 2022, keep these four tips in mind:

1. Don’t wait for mortgage rates to get too high. Mortgage rates are higher right now than they were at any point in 2021, but they’re still fairly competitive from a historical perspective. However, that could change as the year progresses. If rates continue to rise, buyers may become more hesitant to purchase homes. Once that happens on a national scale, property values could start to fall. It’ll pay to list your property sooner rather than later.

2. Keep tabs on your competition. It may be the case that inventory is low in your area, but that could also change as the year progresses. The more competition you have, the harder it will be to find a buyer who is willing to pay the price you want. That’s why you should pay attention to the volume of listings in your area. If you see an uptick, you may want to consider putting your home on the market before you get any more competition. At the same time, be mindful of how competing homes are priced since you don’t want yours to be the most expensive listing in the neighborhood (unless there’s an obvious reason for it).

“It’ll pay to list your property sooner rather than later.”

3. Invest in repairs over upgrades. You may be tempted to update your home before listing to attract more buyers, but here’s the thing about updates: You rarely get your full investment back. If you spend $15,000 to redo parts of your kitchen, that might result in an extra $10,000 in resale value, but your chances of getting your full investment back are slim. Focus on home repairs instead of updates; you’ll almost always get your money back for those.

4. Partner with a real estate agent who knows your neighborhood. With mortgage rates climbing, you may want to team up with a knowledgeable agent who can help you market and prepare your home appropriately to get you the most money possible. Plus, working with an agent could make the process of selling your home less stressful, especially if you work full time.

If you have any questions about selling your home or anything else to do with real estate, don’t hesitate to give us a call or send us an email. We’d love to help you navigate the selling process.