Buying a House vs. Selling a House—How to Prepare

Whether you're a first-time homebuyer or second or third-time seller, the real estate world can be overwhelming. The best way to ensure an uncomplicated transition is through getting prepared. Here are a few simple tips to follow.

🏡 Steps to Buying a Home

1. Check Credit Before Getting Serious Credit history will determine the interest rates offered to you by a lender regarding your mortgage. If you can, review your credit report for errors or loans to improve your score (or at least not be penalized).

2. Get Pre-Approved—Not Just Pre-Qualified Not only will a seller want to see that you want to buy their home, but they'll also want assurance that you can pay for it—pre-approval will show a seller that you're serious. Pre-qualification is the first step, but it doesn't help you know what you're willing to spend, either.

3. Understand Required Features vs. Optional Features in a New Home In the early days of searching, determining what you need (location and number of bedrooms) versus what you'd like (but don't need) helps keep your focus and maintains your budget.

4. Know What's Required Beyond Downpayment It's not just your downpayment. Closing costs, inspection fees, moving costs, repairs, etc.—know your expenses up front before you accrue additional costs you didn't foresee.

5. Get a Local Real Estate Agent A local real estate agent will help guide you in negotiations and the market better than someone from out of town. They will know local comparables and trends that save you time and money.

🏠 Steps to Selling a Home

1. Enhance Curb Appeal When someone drives by, you want them so intrigued that they'll stop and get out of their car to come into the house. Start with landscaping, a fresh coat of paint on the front door, etc., to make it appeal from the street.

2. Declutter Your Home and Make It Non-Personal Buyers don't want to see your family pictures—they want to picture themselves in their new space. Remove everything within reason and keep it clean so that rooms without excess furniture appear larger.

3. Make Small Repairs Before Selling Change lightbulbs, scuff marks on walls, leaky faucets, etc. Minor inconveniences may deter your potential selling price if buyers feel they have to do them.

4. Price Correctly from the Start If a home is overpriced from the start, it sits, and buyers wonder why. If homes are underpriced from the start, sellers lose out on profit. Pricing out comparables in your neighborhood is what your real estate agent is for.

5. Stage for Selling Staging for selling will highlight the best features and make the space seem bigger than it is from arranged furniture perspectives—which works for buyers to snap up the property quickly.

📋 Steps to Getting Ready for Either One

• Financials: Be prepared with bank statements and tax returns along with your driver's license as ID.

• Timeline: Know when you'd like to move and if it matches settlement timelines.

• Market Research: Know what's going on in Bakersfield/Los Angeles, etc. at both ends.

• Flexibility: Be prepared to compromise on repairs, offer to pay closing costs and shift timelines if need be.

✅ Conclusion

It's all about getting prepared for buying a home or selling a home. If you can get a leg up on the competition with these useful tips, then you can guarantee you're putting yourself in the best position for success and moving forward!

Selling a Home — Local Tips for Bakersfield & L.A.

1. Price with knowledge of current temps

   • In Bakersfield, homes are sold above list https://www.skylerrealty.com/and overpriced in the hotter areas of the city but investors don't bother with homes in slower parts due to recession fears.

   • In L.A., homes are overpriced and buyers avoid them especially with the impacts of wildfires, insurance related things.

2. Sell safety and longevity (especially more in L.A.)

   • Homes with defensible space, landscaping that's less fire prone, roofing and ember resistant space become more sellable in fire-prone areas.

   • Be honest about the costs of insurance or history of the home with fires and mitigation or the inverse.

3. Stage for selling and living

   • Investors in Bakersfield are looking for larger spaces and yards and family-friendly attributes.

   • People viewing homes in L.A. are looking for luxury — views, purposefully designed spaces, outdoor selling and privacy/selling features and benefit proximity (malls, schools, etc.).

4. Expect more contingencies and negotiations

   • Softer pockets of each market are more at risk for buyers pushing for more repairs or closing costs.

   • Buyers in L.A. with offers may be cross-referenced due to their inspections, insurance claims or needs post-fire conditions.

5. Get acclimated with marketing and momentum

   • Gauge comps (recently sold) in the area and make adjustments from there concerning selling or staging price.

   • L.A. sellers should be extremely aggressively marketed from the inside out as SoCal buyers are looking for luxuries that can help change their lives.

📋 How to Prepare (Especially in Your Area)

• Local valuations/comps: Start with what sold recently in your area (same zip, same condition, same lot size)

• Due diligence based on your area: Fire zone in L.A., slope stability, hillside foundation; plumbing in Bakersfield, HVAC in Palm Springs, soil/subsidence

• Cosmetic prep/appeal to buyers: Paint, roof, curb appeal, energy efficiency, wildfire mitigation landscaping, etc.

• Your local team: Agent, contractor, inspector, insurance

• Timeline expectations are key: In L.A., you need to build/reconstruct windows—are you waiting on permits? Wildfire seasons? Insurance?

• Set client expectations based on your area's history: Show them comps for days on market, reductions, room to negotiate so they don't enter an anticipated transaction thinking it will be a buyer's market