Planning to put your home on the market? Feeling anxious as to which mistakes to avoid? Naturally, you feel nervous when putting your home on sale. Let us find out some important, yet common, rookie mistakes you need to avoid, ensuring you achieve the maximum result when selling your home:
1. Choosing The Wrong Real Estate Agent
If you choose to work with a real estate agent, make sure you select an agent who is knowledgeable and who has the client’s interest at heart. Take time to interview potential real estate agents to choose the best fit for your requirements. Find out whether the realtor can achieve maximum value for your home and if he has a big list of potential buyers interested to buy your property.
2. Underestimating The Costs Of Selling Your Property
The total expenditure to sell your home can amount to much more than your expectations. When you account for the commissions, closing costs, repairs, and other concessions to the buyer, the costs of selling your house can be higher than anticipated. Calculate your closing costs before you list your home.
3. Setting An Unrealistic Price
The price you want and what the market will pay can be two very different things. The biggest problem for real estate agents is that sometimes sellers have an inflated idea of the value of their home. Do not price your home too high or too low. The biggest mistake a home seller can make is overpricing their home. Visit open houses close to your house to get an idea of the market. Attending open houses can help you compare your home with the houses in your area.
4. Not Preparing Your Home For Sale
One of the challenges of listing your home on the market is showing your home to prospective buyers. The less cluttered, cleaner and more well-decorated your home is, the more appeal it can have. Staging your home right will make your home sell faster.
5. Only Considering The Highest Offer
The highest offer will be more exciting, but it may not always be the best offer. Understand all the aspects before you finalise on any one offer.
6. Ignoring Simple Repairs And Making Costly Renovations
A long list of maintenance issues can turn buyers off and potentially decrease the value of your home. Generally, buyers require an inspection before closing. Buyers expect the condition of your home to match the description. Sellers should repair things that are broken, in poor condition, or can affect the safety, structure, or functionality of the home. Sellers should refrain from doing costly renovations as you won’t always recover the cost in the purchase price. Well looked-after homes give a positive first impression.
7. Not Making Your House Available For Showings
If your house is not easy to show, it won’t be easy to sell either. Sellers should try to accommodate as many buyers as possible, even if their timing is inconvenient. Showings may need you to vacate your house for several hours or a day or even over a weekend for an open house.
8. Not Considering Your Broader Financial Situation
Many sellers don’t have a clear picture of their financial situation before selling. Before you decide to sell, it may be helpful to assess your income, debt, and any upcoming expenses during your move.
9. Too Much Personalisation
Everyone has a different taste in decor and style, so allow buyers to imagine themselves putting their stamp on the property by keeping any pre-sale renovations neutral. The furniture and furnishing should not be too taste specific as the buyers would like to imagine the house as their own.
Steer clear of these classic mistakes and you might close your sale faster and easier than you would have thought possible. At the end of the day, you want the home selling process to be as smooth and painless as possible. Thinking about all the things that can go wrong might be overwhelming but remember that knowledge is power. Now that you’re aware of some common mistakes to avoid when selling your home, you can be more confident when something doesn’t go as planned.