It’s fair to say the web is not short of advice for first-time homebuyers. For sellers? Not so much.
But homes have to be sold.
When you arrive at the decision to sell your house, this can be a challenging period especially if you have no one to guide you through the process. Yet, it’s extremely important to get the process right, considering a home is not an everyday possession that we can afford to make mistakes with. Like clothing. Or old furniture.When selling your house, therefore, it’s important that you understand what selling a property entails, the associated costs, and other nitty-gritty involved in the home selling process.
The good thing is, with proper planning and preparation, you can place yourself in good stead to sell your home much more quickly and at a better price.
But before you can start the process of finding a local moving company to move you out (or long-distance mover depending on where you’re moving to) there’s some work to be done.
In this post, we discuss five golden tips that should prove valuable for first-time home sellers.
Consider a home inspection
While most of the advice on selling a home largely revolves around the aesthetics we buy houses san Diego – and rightly so since the house needs to look spick and span – not a lot is mentioned of the “unseen” aspects of the property.You see, buyers these days are scared away from homes fairly easily and some minor issues could put them off for good. Chances are they’ll be having a home inspection to establish if there are any underlying problems with your property.
With that in mind, it’s best to avoid turning away many a promising buyer by ensuring all issues have been addressed beforehand – roof leaks, plumbing issues, heating system issues and so on.
A home inspector might cost you a few thousand dollars, but they’re well worth it.
A house given a clean bill of health by a professional home inspector not only has the likelihood of snapping up faster on the market but also selling for a considerably higher price.
Hire an agent you can trust
Unless you’re planning to take the FSBO (for sale by owner) route, take your time to choose a reputable real estate agent to handle the logistics and negotiations on your behalf. This applies to every home seller, double so for first time sellers.Your choice of a real estate agent can determine how happy you end up feeling about the whole process.
Ideally, as much as it’s business, you want someone who has your interests in mind – or well invested in the sale. Someone with good marketing know-how and is well connected. Someone who is proactive and goes out of their way to ensure you maximize the ROI on your home – all without lowballing you.
Not every agent is like this. Some are a pain to deal with. Or have no nous navigating the field.
Therefore, take your time to evaluate realtors before getting into any contracts.
Do the necessary Renos and upgrades
Another way you can ensure your home sells faster and at better value is to tie up any loose ends with regard to any home improvement projects that might be needed.Usually, home improvement projects fall under four categories
- Basics – E.g. a roof that doesn’t leak, walls that are in good condition, solid floors, dry basement, and functioning gutters and downspouts.
- Value-added – E.g. kitchen renovations, siding, and new windows.
- Curb appeal – E.g. new fixtures, fresh paint (inside and out), low-cost landscaping, a well-manicured lawn, and cleaned carpets.
- Personal preferences – E.g. wine cellars, swimming pool, hot tubs, basement game room, pond etc.
For starters, the basics are non-negotiable – these need to be in top condition if you’re planning to sell. The same goes for curb appeal. Adding curb appeal can transform your property without having you spend much.
With the basics and curb appeal sorted, consider which value-added projects you can undertake depending on what the property needs.
These three types of projects are the essential ones.
Personal preference projects are great. But keep in mind that 1. Buyers might not be willing to shell out a premium for these add-ons and 2. They might not appeal to some potential buyers as they do to you.Stage the home
Houses that are staged appropriately tend to sell more quickly and for more money.Don’t leave it to the imagination of the buyer to envision how life inside the home would look like. When staged, buyers are able to visualize how their possessions would fit into space more easily.
The good thing is, staging a home is nothing like launching a spacecraft into orbit. A lot of it involves decluttering and depersonalizing the home while highlighting the home’s most impressive aspects.
Unless you got an eye for interior design (a good eye), we recommend hiring a professional home stager to do this for you.
Price the home right
When left to our own devices, we’re more likely to be guided by emotion other than pragmatism when pricing our homes for the first time.A lot of us are prone to overprice the home based on what we think it’s worth rather than what it’s actually worth.
In other instances, we buy houses located in Denver, Colorado and while this might seem like an open invitation for buyers to come knocking, in the housing market, it can also signal that something is potentially wrong with the property.
Neither scenario is ideal, obviously.
When it comes to pricing, it’s often advisable to compare what similar homes in your area are going for at any given time (this can vary based on multiple factors). While doing so, you should also factor in any home improvements or renovations you have made to the property since buying it.Getting the price right from the get-go will absolve you of the need to adjust the pricing northwards or downwards, which is not always a good sign when you’ve already put the house on the market.
