7 CONSIDERATIONS WHEN PREPARING TO SELL YOUR HOME
1. Reason for Selling
Selling your home can be an emotional decision and there may be many factors influencing choice. Everyone’s exact situation is different, but depending on how quickly you want to sell, this can effect the price and strategy used by your listing agent. Here are some factors to take into consideration when thinking about the sale of your home:
- Why are you selling
- What price do you expect
- Location of your home
- Condition your property
- How big is your home
- Design / style
2. Selling Costs
There are some costs associated with selling your home and it is paramount to figure these out up front. Your Realtor can help you with this as part of determining your list price and calculating your profits. Costs associated with selling your home could include: sales commissions, taxes, document preparation, pre-inspection, repairs, updates, etc.
The key factor to selling your home is selecting the right list price. Quite literally, the price makes or breaks the deal for most buyers and sellers. Over-pricing your home up front can scare off buyers which shrinks the list of interested parties and leaves the home on the market longer which can result in lower offers and the listing getting “stale”. Under-pricing the home may result in you “leaving money on the table” or a potential buyer putting in an even lower offer because they perceive that the home isn’t worth as much as it actually is. Your listing agent will work with you to price your home correctly based on comparable sales to help you strike the right balance.
You’ve heard it before, “location, location, location.” While this may be frustrating for some or exciting for others it is a reality of real estate. While you can’t physically move your home it is central to the marketability of your home. Keep the following in mind when thinking about location as it relates to your home:
- Is your property comparatively priced other offered around you?
- Are you in a well-established, up-and-coming or transitional neighborhood?
- Is the home in an urban or rural setting?
5. Condition of Your Property
A big factor in getting your home to sell quickly (other than price) is the condition of your home. The better the condition, the higher the price and the more people will come to tour your home based on their first impression. Some inexpensive tips for making the most of your curb appeal and increasing the interest in your home are:
- Keep your lawn trim and eliminate outdoor clutter.
- Put a fresh coat of paint on any exterior items like your front door, fencing or shutters.
- Freshen up landscaped areas with new wood chips, pine needles, etc
- Clean your windows.
- Wash the exterior of your home to remove discoloration and give it a fresh look.
- Clean out gutters
6. Stage Your Home
It sounds simple, but don’t forget to take the time to stage your home. Things like arranging furniture in a certain way, turning on lights, placing decorative pillows on your couch, etc all make a home seem more inviting or rooms feel larger than they truly are. Staging your home helps the potential buyer see the home in its best light, so here are some cost-friendly tips to help you as you prepare your home for market:
- Paint or clean walls and ceilings
- Sweep/mop floors and dust throughout.
- Have any plumbing leaks repaired.
- Remove excessive wall hangings, furniture and other clutter.
- Open curtains and turn on lights in the home.
- Make sure your house smells good with a fresh scent.
- Always leave your home if it's being shown to prospective buyers.
How close is your home to public transportation, main thoroughfares, shopping centers, schools, restaurants, entertainment, etc? Convenience and access are growing more important for buyers by the day. Work with your Realtor to highlight your home’s accessibility.