Selling your house, especially if it’s your first home, is a big decision and not one to be taken lightly. Before you go buying your next house, make sure you’re ready to sell your current one first. I don’t mean applying a new coat of paint and trimming the hedges, although that certainly helps the sale price. I mean other things you might not have thought of. Here are 9 key things you need to consider when selling your house.
1. Your Finances
First, consider your financial situation. Where will you live after you sell your house? If you’re moving out to an apartment first, there will be a period of a few months where you’ll be paying a mortgage and rent. Can you afford that? You’ll need to have some extra funds put aside to help cover you for those months.
2. The Price
Hand in hand with your finances, comes the price you want for your house. What you bought the house for and what you want to get out of it are irrelevant. What matters is the current real estate market in your community. An appraiser will accurately tell you the true value of your home. Don’t ignore their recommendation and market the house at too high a price or you’ll put off buyers. Remember, those buyers have realtors who can tell them if a house is priced too high.
Don’t let your house sale be held up due to missing or incomplete paperwork, ensure it’s all in place from the word go. Are there any issues with the house that would prevent you from selling it? For example, what if you owe more than the house is worth? This will slow the process down as the bank will need to approve the sale price. What if you discover that your mortgage has a prepayment penalty? Talk to your lender and ensure there’s going to be no issues and that you have everything you need in place to help your sale go smoothly.
4. Your Realtor
You will have plenty of choices when it comes to choosing a realtor. There is certainly no shortage of realtors in your area looking to sell your house. After all, they earn a living off the commission. You can either choose a big name company like remax or 21st or instead hire a local realtor. There are pros and cons to each approach. A big company would have the resources to get your house out there in front of a lot more people. Yet the local realtor truly knows the community like no other.
5. Your Likely Buyer
When getting your house prepared for the big sale, consider your target market. Do you live in an area with a lot of young families or conversely is it mostly peopled by down-sizers? Think about the likely buyer of your home and stage the house accordingly.
The first step to making your home appealing is to declutter and depersonalize the space. Look at your home with fresh eyes and take down decorative items specific to you (like family photos) and declutter each room to maximize the space. Simply leave enough furniture in each room to show its purpose.
7. Finish Odd Jobs
Finish all of those odd jobs you’ve been meaning to get around to, from fixing dripping taps to cleaning moldy grouting. The houses which sell quickest are those which don’t need work done to them. Leave small jobs undone, and potential buyers will worry what else you haven’t done.
A fresh coat of paint can do wonders to brighten up and refresh a dated home. Choose white or cream to maximize the sense of space, and to appeal to as broad a range of people as possible.
Nothing is a bigger turn-off to potential buyers than a grubby property – so pop on your rubber gloves and start cleaning. The less a potential buyer has to do, the more they can imagine themselves living in your property.