Nobody said selling your home would be easy. Yes, a real estate agent makes the job smoother, but you will still face challenges.
Homes are like snowflakes – no two are the same. Even if houses were designed identically by the same architect, they are still in different locations. Add on different styles in upkeep, renovations, and general living wear and tear, and you have two potentially very different selling scenarios.
The point is to expect challenges and mistakes. They are going to happen. Still, we came up with a few common mistakes to be aware of and easily avoid as you start the selling process.
Ignoring obvious repairs
Buyers expect a home to match the description in the listing. If they walk through a house and see major repairs needed, they aren’t even going to consider making an offer. Even if the repairs aren’t obvious, there is a good chance they will show up during a home inspection. While a buyer isn’t required to do a home inspection, it’s best to prepare for one on the likely chance they will.
Many people believe they should renovate their homes to “boost the value” of the property. While it never hurts to finish a basement, remodel a kitchen, or add a swimming pool, be aware you may not always get the return on your investment. Depending on the market, location, and potential buyer, these luxurious add-ons may not be worth the cost.
Not understanding the costs of selling
Selling a house doesn’t come cheap. When you factor in closing costs, necessary renovations, and potential demands from the buyer, selling a home can cost anywhere from 5.5 – 6% of your sale price. Therefore, it’s vital to be financially prepared. Selling a house defines the phrase, “you have to spend money to make money.”
There is a reason people make careers out of the art of staging a home. Buyers want to walk into a home and be amazed. They want to see the potential beauty while also picturing their family and belongings living there. So when selling your home, get rid of clutter. Sell it, pack it up, put it in storage – whatever you have to do. Buyers do not care about your personal decoration choices. They are buying a house for themselves.
Not using a realtor
People often choose to work alone because they want to avoid higher closing costs. But unfortunately, they miss out on market knowledge, contacts, resources, and overall guidance throughout the process. While you might save a little bit of money by not hiring a real estate agent, you will definitely add more headaches to your selling process. From not understanding how to accept the right offer to listing the home at an unrealistic price, there are many mistakes independent sellers make because they don’t have an expert in the industry helping along the way.
Knowing these common mistakes will make life easier as you prepare to sell your home. In the market to sell? I can help – let’s chat! Call me at 717-253-3259 (cellphone) or visit my website at www.karentavenner.com.