Selling a home is something many people choose to do at some point in their lives, yet it happens infrequently enough that very few property owners have adequate experience of the process to avoid common pitfalls.
With that in mind, let’s take a look at some key considerations that might help you out if you are thinking about selling up and moving on.
Timing is important
You might not realize it, but getting the timing of your house sale right is a surprisingly influential factor in terms of how quickly it sells and whether or not you are able to achieve or even exceed your asking price.
For example, right now with record-low mortgage rates and high levels of demand, selling a house is comparatively attractive as a proposition, since there should be plenty of interested parties, spurred on by attractive mortgage loan deals found on this site and others.
Décor is a deal-breaker
Even in favorable market conditions, it can be trickier to sell your home if the décor is either looking a little long in the tooth or is alternatively overly eccentric and personal to your unique aesthetic preferences. If you need to start fresh, you can always check out the easiest way to sell your kitchen online to help cover the cost of a renovation.
The simple act of giving key living spaces a fresh lick of paint, and carrying out basic yet vital maintenance tasks before viewings commence, can dramatically increase the chances of getting competitive offers from would-be buyers.
Some rooms are more important than others
Speaking of key living spaces, it is necessary to focus your budget for minor pre-sale home improvements on areas that buyers will actually care about.
The kitchen is often cited by experts as the room that matters most to house hunters, and so it could be worth replacing tired units or even just fitting new handles and adding updated appliances if you want to snag attractive offers.
Consider other costs in your calculations
Selling your home comes with costs to bear, such as the commission that realtors will charge to do the heavy lifting in terms of marketing your home and showing it off to interested parties.
You will also need to assess the other expenses, such as moving costs and property taxes, as well as the legal fees that are attached to every property transaction.
Being aware of all of these elements before you dive in will ensure that there are no nasty surprises once the process is well underway.
Pricing your home realistically is a priority
If you are only half-serious about selling your home, you might choose to put it on the market for a greater amount than the agent’s valuation because you think that eventually, someone will pay the asking price, or the market might catch up to this price point eventually.
This is a bad idea because it will put off genuine buyers and make it look like there is something wrong with your home because of the amount of time it will linger in the listings.
Instead, aim for a realistic price that reflects the value of your property and is in line with the rest of the market. Or, if you are on the fence about selling in the first place, wait it out rather than pulling the trigger now.
Honesty is the best policy
Lastly, be honest with agents and buyers about any issues with your property. You might be worried about how this will impact offers, but the fact of the matter is that mortgage lenders will require an inspection to be carried out by a surveyor anyway, so there is little point in hiding the truth.
Hopefully, you now know the most important aspects of selling a home that is worth remembering, so that you too can navigate this minefield with minimal stress.