6 Most Common Pitfalls First-Time House Sellers Should Avoid

Selling your home can be a challenging and stressful experience, especially if you have never handled it before. It doesn’t have to be that way, though! While each individual’s selling experience presents its own set of problems, there are some typical blunders you can avoid to make the process smoother and faster.

Here are the six most common pitfalls you should avoid when selling your home.

A strategy is required when pricing a home. Pricing is an important consideration for buyers so you must set the correct asking price for your home. You can lose a lot of money if you under-value your home and it may be tough to sell if you overprice it.

It is advisable to take the help of a knowledgeable real estate agent who will conduct a comparative market analysis and assist you in determining the best asking price for your home. Hire a home appraiser to come in and value your property before working with an agent if you want a more precise estimate of what your home is worth. This way, you will have a number in mind when deciding on a listing price for your home.

Even minor flaws like loose doorknobs, dripping faucets, or wall dings can deter potential customers. So, you should make necessary repairs or handle upgrades you have been putting off, (especially those that are likely to crop up during a home inspection). A good first impression will increase the appraised value of your home and help you close on an offer you like.

Many sellers also contemplate renovations or additions to increase the value of their homes. These can be expensive, and may not always be recouped in the purchase price. Furthermore, some buyers wish to personalize the home by carrying out their own improvements. However, if you want to increase the value of your property, you need carefully examine any changes you wish to make.

One of the most difficult aspects of selling your home is showing it to potential buyers. Generally, buyers are always attracted to a clean uncluttered, and bright home.

Clean up your home and consider hiring a professional cleaning service. Even something as simple as painting your walls with a new layer of paint can completely transform the appearance of your home.

However, to effectively stage your home you will need an outside observer, like a friend with an eye for interior design or a professional. A competent stager will know how to emphasize your home’s space while also making it appear fashionable and inviting. You can also take the DIY approach. But do not overlook the exterior of the home as it is the first thing visitors see when they come to visit your home. Clean up and do any essential yard work. Also, freshen up your landscaping. It will make a good first impression on the buyer and have a positive impact on the sale price.

One of the most common home-selling blunders is not taking into account the additional expenses that come with selling a home.

You will have to pay closing costs which include your share of fees and taxes, and other costs like commission to the real estate agent, and attorney fees. You will also have to pay for any fixes that the purchasers might demand before closing. And, if you’re going to buy a new home, you will have to factor in the price of moving as well. Budget your time and money properly, like with anything in real estate.

Your home is also a product, therefore you’ll need to advertise it properly. You can persuade more potential buyers to look at your house if you promote it well.

Begin by hiring a high-quality photographer as a vast majority of customers conduct their searches online and take virtual tours of homes they are interested in. The right visuals can make all the difference. The sharp and clean images with plenty of natural light will accentuate your home’s best features and will be worth the couple of hundred dollars a professional photographer will charge. Also, add as much information as you can. Any advantage you have over competing options may be all you need to sell your home.

Selling your home may be a long and emotional process. Even if you avoid the common pitfalls listed above, involving your emotions during the bargaining stage implies you are passing up opportunities.

Consider the home sale as a business transaction; analyze the advantages and disadvantages of each offer, and don’t take any poor bids personally.

Above all, never make a hasty decision

Another thing to keep in mind is never to wait for your perfect buyer. The fees of being on the market for a long period, as well as the added cost of the mortgage or property upkeep, can pile up quickly and negate any gains that you have made by waiting out for a higher offer.

At first, selling your property may appear to be a daunting task. However, keep in mind that information is power. You will be able to navigate the process with more confidence now that you are aware of some typical pitfalls to avoid when selling your home. To begin with make sure that your home is ready, clean, and welcoming. Do not be scared to seek expert help and advice from your real estate agent when needed.