The Top 5 Home Selling Mistakes - Selling your home is an exciting (and sometimes overwhelming!) experience. Even when the housing market isn’t at its peak, you can still get a good price for your home. But unfortunately, many people sabotage this chance by making big mistakes. Have you been guilty of any of these?
1. Listing too soon
Selling your home isn’t something you want to rush. Many times people get so excited that they list their home before it’s ready to go. However, the presentation of your home can mean the difference of thousands of dollars in your selling price! Take the time to browse online or go to open houses in the area to see the upgrades in other homes. Maybe it just means a fresh coat of paint or if your kitchen is grossly out of date, it may be an upgrade you consider before listing your home. But don’t go overboard! That leads to our second mistake…
2. Over-improving your home
If you live in a modest neighborhood, adding a new kitchen, a marble foyer, and a new pool to your home will not get you the money back that you are expecting. Instead, your best bet is to match the comparable’s upgrades or other homes in your neighborhood. You won’t get the return on your investment by outshining everyone else on your block.
3. Emotional Selling
Leave emotions at your front door. To most people, a home is not just an investment or a mortgage, but instead it represents memories, hard work, time and energy. That’s why, when coming up with an asking price, lots of people let those emotions drive up the price. Unfortunately, though, overpricing your home can leave it on the market far longer than you want or can afford. Find out what your home is worth, and price it competitively. Your house will be on the market for less time, and chances are good that with a competitively-priced home, you can get more than one offer driving the final price up even higher!
4. Being Unprepared for Showings
Clean! Clean! Clean! We can’t tell you enough how important it is to have a clean, uncluttered home for every showing. Consider each showing as a tough inspection. Dirty carpets or even dishes in the sink can turn off potential buyers.
And even though the furniture in your house most likely will being going with you, having a cluttered living room or an over-decorated bedroom can make those rooms feel smaller. During this time, make sure you are highlighting your home in its best possible form.
5. Foregoing a Realtor
You may be hesitant to enlist a realtor, but consider every opportunity a realtor gives you. For example, did you know that the vast majority of home buyers begin their search on the web. Do you know on which websites you should list your home? A realtor does! Not only do realtors handle the marketing of your home, they also help with the negotiation and many times will prequalify buyers. There is nothing worse than going through the whole process only to find that the buyer can’t get approved for a loan. In the same category, when hiring a realtor, find a professional you can trust. Although it may be tempting to use a friend-of-a-friend or a cousin who just got their license, your home is too big of an investment to not use a professional with years of experience!
Don’t get caught making these costly mistakes. Spending the time preparing your home and enlisting the help of a realtor can easily cut down the time your house is on the market and will get you the money your home is worth!
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