Selling your home is exciting, and so is the money you’ll get when you sell! The thing is since homes are worth a lot of money, screwing things up when selling can put a big damper on your enthusiasm and hurt your financial goals.
Before you go charging head-first into selling take a look at this list of home selling mistakes you need to avoid.
Mistake #1. Not anticipating home-selling costs
If you fail to anticipate the costs of selling your home, you could wind up majorly overwhelmed. Creating a budget and sticking to it is essential to staying on track. You’ll need to factor in home inspections and repairs, staging costs, seller concessions, the cost of your next home, closing costs, moving expenses, and agent commissions. Experienced real estate professionals make a big difference by helping you arrange the sale of your home while keeping these costs in mind.
Mistake #2. Selling with negative equity
If your property went down in value and you still owe a mortgage on your home, you may owe more than what it is worth. In this case, you likely need professional help to deal with your situation. Our recommendation is typically to stay in the home and put in effort to build more equity before you sell.
Mistake #3: Going the ‘For Sale By Owner’ route
When people try to sell their home on their own, they usually don’t sell it for as much. It takes dedicated time, effort, experience, negotiation skills, and resources to sell a home. Great real estate groups, like The Blue Coast Team, have all these things and more to help get your home sold. Realtors also make sure all laws are followed, so you don’t wind up in hot water. When people go the FSBO route, they often fail to price properly due to a lack of a CMA, or comparative market analysis, something Realtors provide.
Mistake #4: Failure to showcase the home properly
Your home needs to look its best both in visual media and in person. You’d better be sure the home is well-lit, decluttered, and has been thoroughly cleaned. And if it's empty, you should consider using staging. Bright, tidy, clean, staged homes show better, photograph better and are much more inviting to buyers. They also sell for considerably more. And with photography, you’ll need to use a professional with a wide-angle lens. Cell phone shots will not do your home justice. More than half of all home buyers find their home online, so quality photos and videos make a big difference.
Mistake #5: Concealing big issues
Being deceptive isn’t cool. And when it comes to concealing issues with your home, you probably won’t get away with it, and it will end up backfiring. Smart home buyers get home inspections. This entails every part of the home being noted by a home inspector. If you have a major rodent problem, a broken furnace, or a leaky roof, they will find it, and your deal could be delayed or terminated.
Make sure you don’t make these 5 Common Home-Selling Mistakes. If you need help selling your home, you need a great real estate agent to help get the job done. Call us today at (519) 331-3746 and it's time to come home to the Blue Coast.
