For many people, the thought of selling their homes can be a stressful and overwhelming experience. There is so much to do and plan for, and it all has to happen quickly. It’s a good idea to try and create a backup plan because you never know what could go wrong. Planning for the sale of your home is one thing; however, knowing which mistakes to avoid when planning to sell your house can make all the difference in achieving success.
The fact that there are so many things that could go wrong can make you feel like you’re risking your life savings on something as simple as moving out of your current house. If you want to get the best price for your home, avoid committing these mistakes that people often commit when they’re planning to sell their homes:
Getting Emotional
When you’re planning to sell your home, it’s normal that there might be some strong feelings involved. You will likely feel nostalgic about leaving the place where you’ve raised your kids or lived for many years with your spouse. You might also have other ties to the house that are emotional in nature.
If you let emotions get in the way, you could end up selling your house for much less than it’s worth. For example, if you’re attached to pictures on the wall or a stained glass window in the front door that you want to take with you when you leave, don’t let those things influence the decisions made by potential buyers. Be willing to remove personal items and allow buyers to do what they want with the house.
Working Alone
When you’re planning to sell your home, it’s generally wise to work with a realtor or home buyers. These professionals have connections in the community and can be your best bet to selling your home fast. They already know what other homes in your area are going for based on recent sales figures. They also know how to market your home in the best way possible.
If you try to sell the home on your own, it will be much harder because there are countless factors involved. Things like running an ad or doing open houses can seem overwhelming, but that’s what a realtor is for. Working alone can give you a skewed view of what the house is actually worth when compared to other homes in your area. Working with a professional realtor, you will have help when it comes time to negotiate the selling price.
Having Unrealistic Expectations
When you’re planning to sell your home, keep in mind that it’s probably going to take some time. For example, if the house needs repairs or renovations before buyers will be interested in seeing it, that could mean more money spent and a longer wait. You might also have unrealistic expectations about what the sale price will end up being.
When you’re planning to sell your home, try not to think about how much you’re going to make because that could end up burning a hole in your pocket and making it tough for you to secure good interest rates if you apply for a mortgage. It’s also unwise to rely on selling the house quickly because it could take months to find the right buyer.
Waiting For the Home Selling Season
People often wait until the home selling season to sell their homes. The truth is, there really is no home-selling season. Yes, there are certain times of the year when most people sell their homes, but you shouldn’t wait for these busy periods to put your house on the market. You may miss buyers who are looking at houses all year round because they feel that prices will go up during the real estate peak months. So if you want to get the best price for your home, put it on the market any time of year.
Try selling your home in the spring and summer when families want to move around school vacation time. Be flexible and plan some open houses on weekends. If you’re willing to sell your house for a little less than market value, buyers may be more likely to purchase that house while it’s still on the market instead of waiting until prices increase later on.
Another exception to selling during the home-selling season is if your house is one of a kind. If there are few others on the market like it and people are actively looking for what you have, waiting can be your best option.
Pricing Too High
Selling your house for more than it’s worth is one of the most common mistakes people make when trying to sell their homes. It may be tempting to think that you can get a better price if you start high, but it actually works against you in the end.
Overpricing your home makes buyers think there’s something wrong with it, or that you just don’t know what you’re doing. What would happen if everyone thought that way? It would be a buyer’s market and no one would get a good deal.
Pricing your house too high is the number one thing that makes buyers think there’s something wrong with your home, according to Christie Nicholson, a real estate agent in Phoenix, Arizona. Another negative impact of overpricing is that it can stagnate the home selling process. People will look at your house but be turned off by the high price. They won’t consider putting in an offer because they’re sure that you’ll just turn them down, keeping it on the market longer and making buyers think there’s something wrong with it even more.
Keeping Clutter in the House
Selling a house is one of the rare occasions where keeping your stuff in order is actually beneficial. Why? Well, people can’t imagine themselves living in a house that’s cluttered and disorganized. It makes buyers think that they won’t be able to find their stuff either or that you’ll come home at random times. It makes them uncomfortable.
So get your house in order. Make sure the kids’ bedrooms are neat and tidy, clean out the closets, garage, attic, basement–basically make sure everything is spic and span. This will make buyers feel like they can move right in. Plus, you’ll get more money if prospective buyers think that way.
If you want the best possible price for your house and a smooth sale process, avoid committing any of these common pitfalls which can lead to major headaches down the line. We hope this article has been helpful.
