Selling Your Home? Here's What Not To Do.
Look, selling your home is no small task. There’s a lot of strategising, planning and preparing that goes into it, and you need to be ready for that. You want it to be a stress-free process that brings in the best price with the least amount of headaches. There’s a lot you can do to ensure this happens, but there’s also a few things you shouldn’t do.
The Ristic Real Estate think tank has put their heads together and compiled a list of easy mistakes to avoid. Give these items below some thought when you sell, and the experience could be a whole lot breezier for you.
Selling Costs Money
Don’t underestimate the expenses that rear their heads when you sell. Plan for them, and make sure your budget can absorb them. Some things to think about are:
– Home repairs and upgrades
– Agent fees
– Your second mortgage, if you buy a new home before you sell
– Delivery costs, moving costs, temporary rentals, utility connections AND…
– Endless cups of coffee while you get your home shipshape!
Selling Your Home Yourself
Saving money on commission is one thing, losing money because your negotiating skills aren’t up to the standard of a good real estate agent is another. If you want to sell your home yourself, ensure you have the capacity and skills to do so. There’s a whole lot of complex paperwork and legal processes involved, not to mention time and effort.
Pay Peanuts Get…
When a real estate agent’s commission structure looks too good to be true, it probably is. What you need is a good service at a fair price from a tried and tested agent. Going for the cheapest option is going to cost you more in the long run.
Disregarding Home Repairs
Want to see a buyer run? Give them a long list of repairs to be made on the property they’re interested in! Don’t be that seller… make a checklist of everything that needs replacing, oiling, repairing or tightening and get it done.
Over-Renovating
It’s really tempting to go overboard on renovations right before you sell. A super pretty, freshly renovated home will sell faster, right? Probably. But you probably won’t make back your investment on the renos through your sale. It’s a numbers game, so do the math before you spend the cash.
Also, your idea of a good reno might not suit the tastes of potential buyers.
Lacking 100% Commitment
Putting your home on the market to ‘test the water’ can be a bad idea. If it sells faster than you thought, suddenly you’re in a situation in life you haven’t planned adequately for. If you’re going to sell, be 100% sure that’s the road you want to take. Anything less, and you won’t be pushing at each step to get the best outcome, so your sale price could be lower than it should.
Asking For Too Much Money
The memories and nostalgia you associate with your home often hold so much more value than the property itself. It’s easy to want more than it’s actually worth… to you those memories are priceless. But the market value could be entirely different. Work closely with your real estate agent, and you’ll be able to come to a figure that the market agrees with.
Hopefully you get some value out of those pointers. If you need any advice or guidance when you’re selling, or would like to book in an appraisal, don’t hesitate to give Ristic Real Estate a shout. We’re here for you!