Follow these tips to get the best value when selling your La Paz home.
Thinking of selling your home in La Paz? Whether you are looking for another home here in La Paz or moving elsewhere, it’s a good idea to be prepared so you can get the best value for your home in the shortest amount of time.
Following is the first of two articles we’ve put together with some tips and questions to consider before you list your home. These tips are just a small part of the considerations in selling your home, and not a complete guide. We recommend hiring a trusted and competent real estate agent to guide you through the process to ensure a successful outcome. Don’t see your questions answered here? Contact us at info@bajaliferealty.com. We are happy to answer your questions!
PART 1: WHERE DO I START?
Choosing a real estate agent
Selling your home in La Paz is a big decision. Whether you have lived in it part time as a vacation home or full time as a retiree, your home is a highly personal part of your life. Getting ready to leave it can be an emotional experience. We understand! As agents, homeowners and full-time La Paz residents, we’ve also been through this process. That’s why, once you have decided to list your La Paz home for sale, it’s important to select a real estate professional who will best represent your interests.
The right agent will:
- Be very familiar with your area of La Paz and the value of the homes around it (properties currently for sale as well as properties that have sold recently);
- Create a thorough plan to list your home at the right price and market it to the right buyers;
- Get the best purchase price for your home given current market conditions;
- Help you successfully navigate any legal and financial details that can help you optimize the net price you will receive from the sale.
We at Vista Properties are real estate professionals with over 11 years of experience guiding our clients through La Paz area real estate transactions. We understand the legal complexities as well as the emotional impact of selling your home, and can help make the entire process of selling your La Paz area home seamless from start to finish. We work with a highly trusted team of experienced resources including real estate attorneys, notarios and contractors to make sure your transaction is safe, legal and enjoyable.
When should I sell?
Many sellers put their homes on the market at the start of the busy season, typically in November or December, to ensure the most amount of traffic. However, since everyone else is putting their homes on the market during that time, it can also be harder to make your home stand out from the crowd. If you’re nearing the summer season and thinking of selling, you have some unique advantages. Summers in La Paz are getting busier every year as fishing and diving enthusiasts come to the area to take advantage of the warm waters. Families also tend to visit in summer while their kids are out of school. Another good reason to list in summer: there are fewer homes on the market, so the properties that are available tend to get more attention from more qualified buyers, versus “interested lookers” here on vacation who just want to get a feel for the La Paz real estate market.
How much is my La Paz home worth?
The simple answer is that your home is worth what buyers are willing to pay for it. This can vary depending on market conditions, the condition of your home and your timeframe for selling. Of course, everyone wants to get the best price possible when selling their home. However, many sellers make the mistake of assuming buyers will pay whatever price they ask if the buyer really loves the home. Others insist on listing at a price that is equal to or higher than what they paid for the property, regardless of the current market. Unfortunately, the market does not factor the amount paid into the current value of your property. Pricing your home too high is a risk that can easily backfire, resulting in a property that sits unsold for months or even years.
Our agents are skilled at helping you find the right listing price based on facts instead of emotion. In general, the same rules apply here in La Paz as they do in the US or Canada. A buyer’s agent will compare your home to others on the market, as well as to others that have recently sold in your area, and advise their clients as to what they think is a reasonable offer comparable to those homes. (These are what real estate agents call “comparables” or “comps”.) As your listing agent, we go through this same process to come up with a fair listing price for your home that is designed to get you the best possible price within your desired timeframe to sell.
Preparing your Home for Sale
While pricing your home correctly is important, there are many other factors that can impact the perceived value of the house. Following are a few things we recommend you do to make the process as easy as possible:
- Fix any issues before listing the property. One of the fastest ways to improve the perceived value of your home is to make minor repairs and fix maintenance issues. Paint that is cracking, peeling or faded, systems that don’t function correctly, water leaks, poor or no landscaping and other issues can quickly degrade the value of your home in the eyes of the buyer. Fixing these issues often doesn’t cost much and can easily result in a higher final sales price. This is especially true of higher priced properties. A buyer willing to spend on a higher priced home will expect the home to be well maintained and in top condition.
- Stage the house. This doesn’t mean you have to hire an agency and pay high monthly rental fees to bring in new furniture. In most cases, it means removing furniture and other personal items so that rooms look bigger. Removing personal items helps buyers imagine themselves living in the space rather than seeing the house as yours. Talk to your agent about how to best stage your home to present it in the best light. A fresh pair of eyes on your rooms and furniture can showcase your home in a whole new light.
- Take professional pictures. Photos are one of the best marketing tools you have for showing off your home. Professional photos create more interest in a property for sale. More interest leads to more prospective buyers and more excitement about your property. That excitement is what helps to create a good offer or even several offers! Poorly shot photos can actually be worse than no photos. Dark or fuzzy photos, photos that show a cluttered house or that don’t reflect the best attributes of the house can leave potential buyers discouraged and may lead them to eliminate your house from their list without ever seeing it.
In our next article, we’ll discuss the documents you’ll need to get in order to close on the sale of your home, a breakdown of seller costs, and the all-important capital gains considerations. Stay tuned! Of course, if you have any questions, you can always get in touch with us at info@bajaliferealty.com.