If you own a home in Florida and are thinking about selling, here’s good news: You can probably find someone to buy it. The number of existing homes available for purchase in the Sunshine State is very low — just 1.1 months supply of single-family homes as of April 2022, according to data from the trade association Florida Realtors. However, selling a house in Florida isn’t as simple as posting a listing and watching the offers roll in. Here’s everything you need to know to maximize your profit and minimize the time you have to wait for closing.
Are you ready to sell?
Before you put the house on the market, you need to have a game plan for what’s next in your life. Are you planning to rent somewhere? Or will you need to sell your current house while buying another so you can use the proceeds for a down payment on your next property? Remember, the seller’s side is all smiles right now, but being a buyer is a totally different story in many places around the country. Be sure to take a look at your finances, too, to get a sense of what kind of mortgage you’ll be able to qualify for.
Preparing to sell
Once you’ve decided to list your home, it’s important to answer three questions.
Is it worth upgrading your home before you sell?
If your kitchen feels outdated or your backyard could use a new deck, you may already be running the numbers on completing those projects to boost the sale price. But, while you might be able to increase the home’s value, you will likely struggle to recoup the entire cost of the projects. Pre-sale upgrades don’t have to be major renovations. Instead, you can make simple enhancements that will look especially appealing in pictures online, like a fresh coat of paint or a new flower bed. And according to Florida Realtors, 33 percent of buyers are looking for the ability to customize and choose their own design features. So your renovation might immediately turn into another one for the next owner if they don’t share your sense of style.
What should you repair before you sell?
If you have water damage, a cracked hardwood floor or some other noticeable issue, you’ll probably want to address it before letting prospective buyers take a look. Obvious problems can turn them away or lead to low-ball offers. Additionally, it’s smart to hire a home inspector to do a pre-listing inspection that will uncover any other issues.
Should you stage your home?