If you’re a parent, you might read this with some anxiety. Your kids are grown and out of the house, and it’s time for you to move into an assisted living community. But there’s one problem: You need more money saved to pay for this move. And even though your kids want you to stay in their home as long as possible, they also need the home sale equity to get on with their lives. What does that mean? It means that selling mom or dad’s house is a no-brainer if everyone involved can agree on terms like price and timeframe. That said, there are steps every family should take before entering into such an agreement—and taking these steps early will make everything go more smoothly later down the line when it comes time to finalize things between buyer and seller:
Declutter The Home
If you’re selling your parent’s home, getting rid of all the clutter and junk accumulated over the years is important. This will help make sure that the house is priced accurately and will make it easier for buyers to picture living there. If a room looks cluttered, buyers will imagine their own clutter being added to it—and may not want to live there after all!
The first thing you should do is remove any personal items or pictures from the walls. Then go through drawers and closets, getting rid of anything that doesn’t add value or function in some way (such as clothing). Empty out cabinets, get rid of old newspapers and magazines that have been piling up since last year (or perhaps even longer), etc. You’ll probably find quite a few things that can be donated or sold on Craigslist or eBay–ask yourself whether each item adds value to your parents’ lives before deciding what to do with it!
Repair Major Issues
Some homeowners are surprised to learn that their home has a significant issue, like a foundation problem or water damage. The best way to avoid this is by hiring a professional home inspector who can scan your house for any issues before putting it on the market. If you find something, get it fixed—and if the repair costs more than you can afford, consider selling for less than market value to get an offer accepted quickly.
Hire A Staging Pro
Staging your home is a great way to make it look more attractive to buyers. It can be done by you or by a professional. In some cases, it might not even involve moving furniture around; redecorating the entire house can spruce up the façade and make it look like a desirable place to live.
Staging may also mean changing accessories in your parent’s house: putting fresh flowers in every room, swapping out old lamps for new ones, replacing rugs with hardwood floors (if your parents are willing), and so on.
Embrace Tech Tools
There are a few things you should be aware of. The first is that a website like Zillow will help you track the market value of similar homes in your area. You can also use real estate agents to help sell the house more quickly and for more money than it would otherwise bring in (the commission from this transaction will go toward paying for senior living). Finally, consider hiring a professional photographer to take beautiful photos of the home, so potential buyers will see how great it looks!
Selling your parents’ house can be an emotional journey. One of the most important things you can do is take a deep breath, set aside your feelings for a moment, and focus on the practical aspects of selling your home.