Philadelphia is a beautiful city that has attracted many new residents in the last couple of years. Most people choose to move to Philly because it is a historic city with a lot of charm and character. Also, many residents have moved here because they have been priced out of cities such as Washington DC, Boston, and NYC. Given Philly’s popularity with home buyers, you might be wondering if it is possible to sell your house fast in Philadelphia. The short answer is – yes, it is. However, read on to find out more about ways you can speed up the sale of your house.
Focus on Millennials
First of all, fixing up your house before selling is likely to better your chances of selling your home quickly. But aside from remodeling, there are other pieces of advice we can give you if you want to sell your house in the traditional way.
So, if you plan to list your house for sale in the local real estate market, it makes sense to appeal to Millennials. This age group makes up the most significant portion of the demand for housing, amounting to 66% of all first-time home buyers.
Hence, since Millennials are now in their late twenties and thirties, the layout and the decoration should appeal to this demographic.
Make sure the price is reasonable in order to sell your house fast in Philadelphia
Not only is the curb potential of your home important, but its pricing is as well. The first month on the market will position your property favorably or unfavorably with the buyers.
Namely, your home might not get sold in the first month because the set price is too high. As a result, potential home buyers might conclude that your home has some kind of a flaw. Hence, even those buyers who are ready to pay the price might avoid your home because it has spent too much time on the market.
Therefore, it is best to get a heads-up on how much your house is worth in Philadelphia before you set the price.
For example, if your house is located in Washington Square West, the chances of selling it without too many problems are relatively high as this area is quite popular with home buyers (esp. Millennials). Let’s say that the median price for the entire neighborhood amounts to $385,000. Yet, the price range can vary from $370,000 to $508,000, depending on the block. How do you set the price for your home then?
Hire a real estate agent to set the right price
It helps to get advice from a real estate agent familiar with the pricing trends in your neighborhood. The gap between the asking price and the final price is just 3-7% in Philadelphia. Therefore, it is best to play your cards right from the outset and list your house for sale at a realistic price.
Sell your home to a local investment company
You might want to skip selling in your local real estate market altogether. If you have to move from Philly as soon as possible or do not want to invest anything in the property to sell it, you can pull your house from the market and sell it to a local investment company.
In this way, you will not have to give away 10% of the value of your home to pay realtor fees and closing costs. This also allows you to skip the tedious processes of decluttering, remodeling, and showings.
Hence, you can sell your house as-is and focus your attention on packing and moving to your new place. If you already know the move-out date and need to hire movers fast, be sure to look for a responsible residential moving company that will ensure a stress-free transfer to your new address.
Timing is crucial when selling your Philadelphia home
It is not unimportant in which season you decide to sell your home. Springtime is typically the most successful time of the year for selling property in Philadelphia. Some estimates show that houses in Philadelphia sell the fastest in May. Yet, May to August is generally considered to be a good timeframe for selling your home in Philadelphia.
However, this does not mean that you shouldn’t list your house for sale earlier. Some real estate experts contend that home sellers should prepare their homes for sale as early as February. The logic behind this lies in the fact that your home will be ready for the spring season. So, if you set the deadline for February and the remodel or construction work takes longer, you will have time to prepare your home nevertheless.
Additionally, selling in the off-season is believed to be beneficial for attracting more serious buyers. And if you do not sell your home in this period, you will be able to assess your home’s appeal and its price in time for the spring season.
Make your home appealing to sell it fast
As obvious as it may sound, you need to put in the effort to sell your house quickly. Hence, if you intend to first sell and then move out, you may still want to declutter your home to make it more appealing. Not only will this be a life-saver once you start packing, but it will also make the house seem less personalized.
In line with this, you should also remove personal items. Photographs, paintings, diplomas, and other things that may distract potential homebuyers should be removed, at least during showings. In this way, you will signal to the buyers that you are serious about selling your home. And with a bit of luck, you will be able to sell your house fast in Philadelphia.