7 Major Mistakes You Can Make During the Home Selling Process
Ready for a new chapter in your life?
Well, the amount of money you walk into that chapter with might depend on how much you can sell your old house for. The home selling process can be tricky, so it’s important to know what the common pitfalls are. We’ve put together 7 mistakes people often make when trying to sell their homes—and how to avoid them.
So if you’re wondering why the selling process isn’t going as well as you thought it would, see if you’re making any of the mistakes on this list. And if you haven’t started planning yet, now’s the perfect time to steer clear of pitfalls before they happen.
1. Pouring Too Much Into Renovations
When your friends and family find out you’re selling your house, they might advise you to make some renovations to improve the value of your home. This can work a lot of the time, but only if you’re smart about how much you spend on these upgrades.
New upgrades will only take your home so far in terms of increased price. The more you spend on a renovation, the riskier it is—you have to hope the potential buyers see the added value.
So go ahead with your renovations (and repairs!) if you think it’ll make a substantial difference, but don’t get carried away. And try not to get too custom. What looks beautiful and unique to you might not translate to a wider audience.
2. Guessing the Price
You might have an idea of the value of your home based on how much you bought it for or how much it “seems” to be worth. But to get a real estimate, you’ll need to look at some data.
How much are the houses in your neighborhood selling for? What about houses the same size as yours? Current numbers like these will tell you how much you can likely expect for your house.
3. Selling at the Wrong Time
Did you know home sellers generally have a tougher time in the winter than other times of year?
If you have some time available to decide when to put your house on the market, you might have better luck in the warmer months. These are the times when people will be more energized and ready to visit houses.
Of course, you might live in an area where the weather is nice year-round. And you might find winter months advantageous because there’s less competition. If you’re working with a real estate agent, talk to them to see what months do best for housing value in the local market.
4. Underestimating the Power of Photos
One of the easiest home selling mistakes to avoid is underestimating how important photos are to the process. If you’re wondering why you’re not getting potential buyers to show interest in your home, a lack of nice photos might be the problem.
Sure, the number of bedrooms and quality of appliances might be super relevant to the value of your home, but they’re not the only things that count. You want to sell a product that looks good and promises pretty dreams for the future.
5. Skipping an Inspection
You might be trying to cut costs and sell your house as-is rather than doing your repairs, but there’s a right and a wrong way to do this.
The most important thing here is that you need to be up-front about the state of your home. Don’t expect you’ll be able to sweep anything under the rug—new homeowners will definitely take the time to explore their surroundings. So make sure to tell potential buyers about anything in your home that would need to be repaired.
And to be safe, you can schedule a home inspection before putting your house on the market. Even if you truly did not know about a problem in your home, a buyer can complain and even try to punish you for selling them a home with undisclosed damage. A professional inspection can keep you on the safe side of things.
6. Not Including Staging in the Home Selling Process
Home staging might seem like a bit too much effort when you’re planning visits for people to check out your home, but you’d be surprised at the difference it makes. Home selling is a subtle art, and potential buyers like noticing that the sellers created a welcoming experience for them.
The staging doesn’t have to be all-out if you don’t want it to be. Just getting rid of clutter and putting together some strategic lighting can make your home look much more inviting. Some people spend money on furniture rentals and interior design elements, but if you’re on a tight budget, you can declutter and clean for free.
7. Doing It All Yourself (If You’re Not Prepared)
Many people work with a real estate agent, but it’s still possible to sell a home by yourself. If you’re considering this, take a moment to think through your abilities and available time. You should only sell without a real estate agent if you feel confident in your ability to do it well.
It’s true that real estate agents cost money, but they will likely make up that cost (and more) with the money they can get you for your house. They can also help you make secure transactions for real estate. When you’re working with this amount of money, security is everything.
Selling a house can be stressful, and you don’t want to burn out in the middle of the process. Make a thoughtful decision on whether or not to hire an agent before you start trying to sell the house.
Now Go Sell That House!
If you’ve made sure to avoid these mistakes in the home selling process, you’re well on your way to a great sale. Your potential buyers will appreciate the care you put into the presentation, and your real estate agent—if you go with one—will respect your awareness of what’s what.
So put your house on the market with confidence! And for more lifestyle tips to improve your journey, check out the rest of this site.
Samantha Gaines wrote this article on behalf of FreeUp. FreeUp is the fastest-growing freelance marketplace in the US. FreeUp only accepts the top 1% of freelance applicants. Click here to get access to the top freelancers in the world.
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