Selling your house doesn’t have to break the bank. There are many ways you can save money when selling your house in Hawaii. We have put together a few of our favorites in our latest post!
You might think that selling your house in Hawaii will be a stressful, expensive, and complicated situation. For many, this is the truth. However, it doesn’t have to be that way if you’re prepared. By knowing a few tips and tricks along the way, you’ll be ready to save some serious cash on the sale of your home. Keep reading to learn more!
Sell As-Is
While it may not be worthy of a magazine cover, selling your house in its current as-is condition can save you tons on repairs and upgrades. You won’t have to deal with sizable costs or expenses getting it ready to show on the MLS. There are many investors out there who are looking for a house they can renovate and then resell for a profit. Since they buy with cash, these buyers can act quickly and help you avoid repair costs, commissions, wasted time, and other closing fees. There are other buyers looking for a home of their own that are willing to take on a house that needs some work in order to receive a lower final sale price.
You can also choose to work with a professional homebuyer such as Oahu Home Buyers. Because we’ve been buying homes for years, all in their current condition, we can really get it down to a science and help you put a plan in place to sell and move to the next chapter of your life.
Sell On Your Own
A “for sale by owner” listing, also called a FSBO for short, can be a great choice for certain properties and situations. It can save you money and put you in control of the entire process (if you’re up for it). This can be either a positive and/or a negative. On one hand, you’ll save on the commission costs and other expenses, but you will also be the one doing all the work — and it can be a lot of work. Answering buyers’ questions, showing the property at inopportune times, marketing the house which today means both digitally and via boots on the ground, and handling the paperwork will all be up to you. It can be tiresome and overwhelming, especially for those without a real estate background. In most cases, a FSBO can be risky and should only be handled by a pro.
Negotiate Commissions
If you decide to hire a Hawaii real estate agent to help you sell your home, find out up front what your costs are. Make sure you know what is included with your listing agreement so you aren’t hit with surprise fees or costs after the fact – this will help prevent future headaches and ill will. Try to negotiate your commission to a lower rate, if possible. There might be a hungry agent out there, confident they will be able to sell your house quickly, so they won’t mind taking your listing for a lower commission.
Credits
Instead of spending your time and money updating an old kitchen before selling the house, consider offering buyers a credit towards making renovations of their own. Not only will they appreciate the extra budget toward the rehab, but they will likely appreciate being able to pick their own finishes and design the home as they wish. Remember, taste is subjective, and not everyone will agree with the things you like (so if you are doing the work, keep it neutral). When you spend a fortune on renovations, you run the risk of putting off some buyers who may otherwise have been interested. Plus, construction costs can add up to more than the original estimates – especially in Hawaii. If you choose to make the upgrades on your own, you run the risk of going over budget so be sure your contract with your builder is tight.
DIY Where Possible
Do you have a great camera and photographic eye? Maybe you consider taking the listing photos on your own instead of paying hundreds of dollars to a photographer. Or maybe you have a drone you could use to take some shots of your property from the air. You could also choose to throw an open house, post your own signs, or handle your online listings if it will mean a decrease in your commission costs.
Sell It Fast
Ask any investor and they will tell you that the longer you own a house, the more it will ultimately cost you. Holding costs add up quickly, month after month, and can balloon to thousands if your house sits on the market for longer than expected. Utility bills, homeowners insurance premiums, property taxes, cleaning costs, repairs, regular maintenance, staging, and landscaping — even HOA fees for many Hawaii property owners — will add up quickly. When you sell your house directly to Oahu Home Buyers, the entire process of selling can be completed in under a month, often in two weeks or less. For many sellers in the Hawaii area, a direct sale can ultimately be the most lucrative way to sell by avoiding the above costs.
When selling your house in Hawaii, there are many ways you can save money. Before you decide to list or spend any money making repairs, let us help you determine which selling method will ultimately put the most amount of money in your pocket!