Financial independence is a pivotal factor in living a happy life. Real estate investing is a tried-and-true strategy to build wealth and achieve financial freedom. Whether you are just getting started in this business or have lots of sales under your belt, there are a number of effective ways you can attract buyers and shorten the amount of time your investment home stays on the market. We rounded up some tips to help ensure a fast sale of your property.
Choose the Right Neighborhood
It is said that you can live with almost any imperfection in a home if you love the neighborhood and your neighbors. You can change almost anything within the home, but once bought you can’t change the location. Most people look for neighborhoods with low crime rates, top-rated schools, nearby shopping and dining, and access to leisure facilities.
Other key considerations include the area’s growth, employment rates, and tax environment.
Update the Kitchen and Bathroom
One of the biggest deciding factors in purchasing a home is the kitchen and bathroom. New cabinets and updated finishes are often all that is needed to impress sellers and regain some of the original investment. If your budget permits, upgrading kitchen appliances and retiling the bathroom will make your investment home stand out from the competition and likely reduce the number of days on market (DOM).
Invest in Landscaping
Curb appeal is vital to making a great first impression on prospective homebuyers. Home landscape upgrades can offer sellers over 100% returns on their investments. A lawn service, fresh mulch, planted flowers, and clean edges will all help to wow buyers.
There are several other improvement projects you can take on to boost your home’s value and attract more buyers. However, it is important to understand the local market and your competition before you commit to a remodel. One of the most detrimental things a real estate investor can do is to overimprove their investment home and price it well outside the neighborhood price range in a bid to recoup the renovation costs.
Are you ready to plunge into investing in real estate? RLG has the tools and resources at its disposal to get you on your way and not waste a moment of your time. Call us today to learn more and experience firsthand the dedicated, personalized customer service and undivided attention that RLG has to offer!