When it comes to the bottom line, homeowners need to know what it takes to avoid costly mistakes. Being mindful of these things and prepared for the process can help you avoid some of the most common mishaps when selling your house.
1. Overpricing Your HomeWhen inventory is low, like it is in the current market, it’s common to think buyers will pay whatever we ask for when we price our homes. Don’t forget that the buyer’s bank will send an appraisal to determine the value for your home. The bank wont lend more than what the house is worth, so be mindful that you might need to renegotiate the price after the appraisal. A professional will help you to set the true value of your home.
2. Letting Your Emotions Interfere with the SaleToday, most homeowners have been living in their houses for an average of 10 years
This is several years longer than what used to be the norm, since many homeowners have been recouping from negative equity situations over the past 10 years. The side effect, however, is when you live for so long in one place, you may get even more emotionally attached to your space. If it’s the first home you bought after you got married or the house where your children grew up, it very likely means something extra special to you.
For some homeowners, that makes it even harder to communicate, separating the emotional value of the home from the fair market price. That’s why you need a real estate professional to help you with the negotiations in the process.
3. Not Staging Your HomeWe’re generally quite proud of our decor and how we’ve personalized our houses to make them our own personalized homes, but not all buyers will feel the same way about your design. That’s why it’s so important to make sure you stage your home with the buyer in mind. Buyers want to envision themselves in the space, so it truly feels like their own. They need to see themselves in the space with their furniture and keepsakes – not your pictures and decorations. Stageand declutter your home so they can visualize their own dreams as they walk through your house. A real estate professional can help you with tips to get your home ready to stage and sell.
Today’s seller's market might be your greatest chance to make a move. If you’re considering selling your house, sit down with a local real estate agent to help you get through the process while avoiding common seller mistakes.