Have a Clear Plan Before Going to Market
It’s important to develop a detailed plan with your family or real estate agent before trying to sell your home. A good plan will ensure you’re not unprepared for the commitment or the uncertainties that come with selling a home. Here are five things you should include in your plan before going to market:
1. Research the Housing Market
Researching your local housing market is essential to understanding the value of your home, as well as the competition you’ll be facing. For example, how many homes are for sale in your area? How much do they cost? How do they compare to you in terms of location, square footage, and the number of bedrooms and bathrooms?
2. Find a Storage Unit
You don’t need to move all of your things out of your home before going to market. However, you should absolutely plan on doing a significant amount of decluttering and depersonalising to appeal to buyers. Buyers want to project their own belongings and furniture into your home, so having too much of your own stuff around can be a problem.
In your plan, write down the contact information for your local storage unit. You may end up needing to remove more of your things than you originally thought, especially if buyers seem uninterested in your home’s interior. In this situation, you’ll be relieved that you’ve already researched and planned out a storage unit to securely store your belongings.
3. Have a Place to Stay
Before you go to market, you should find a place to stay in case you sell your house earlier than expected or if living in your house becomes too difficult. Living in your house while trying to sell it can be tricky as you’ll want to keep both the inside and the outside of the house well-maintained. This can be especially stressful if you have a family and young kids. That’s why some people plan to stay in a hotel or with other family members temporarily if they’re unable to properly maintain their house for buyers while living in it.
It’s also important to plan for a place to stay in case you miscalculate how long your home will take to sell. If you end up getting an offer for your asking price just days after you put your house up on the market, you need to make sure you have a place for you and your family to live if you haven’t already moved into your next home.
4. Discuss Price Negotiations
If you’re presented with a counteroffer of less than your asking price, which happens all the time, how low are you willing to go? It’s important for you and your partner (or whoever else you may own the home with) to be on the same page before this situation arises.
While you should always think your decisions through carefully, it’s important to be very prepared when selling a house. You don’t want to lose a potential buyer because you took too long debating with your partner about things you could have straightened out beforehand.
5. Hire a Realtor
Creating a comprehensive plan with all details accounted for is much easier when working with an experienced realtor. A licenced and fully-qualified realtor brings with them a deep knowledge of the housing market, a unique attention to detail, and the ability to spot the minor flaws that most of us don’t typically notice. They’ll keep you from the common mistakes most people make when trying to sell their home, including:
- Pricing too low or too high
- Neglecting lawn maintenance
- Off-putting interior decor
When it’s time to go to market, a realtor will also know how to play up the strengths of your home to the right buyers. Though a good realtor will cost money, it’s entirely likely that you’ll make that money back by getting the best possible offer for your house. At the very least, you’ll definitely be saving yourself some time and stress.
Don’t Rush to Market
Though you may be in a hurry to sell your house, the drawbacks of jumping into the market without a comprehensive plan aren’t worth it. Developing a detailed plan that accounts for different outcomes and scenarios is guaranteed to save you time, energy, and potentially your money. Talk to R & R Property today for expert advice.