You regularly hear about first time home buyers, but what about first time home sellers? You’ve been through the buying process with your original residence, but now it is time to upsize, or downsize, to fit the needs of you and your family. Just like buyers, sellers need to be aware of pitfalls that may come along the way, and how to avoid expensive and stressful mistakes.
Deciding What Your Home is Worth
This may be the most difficult decision a seller can make. Chances are you have a number in your head of what you should be able to get for your home, and sometimes that number isn’t reality. You most likely have an attachment to your home on some level, so someone else should buy it at a premium, right? Not always. You should listen to your real estate agent for their expertise, and gauge what other comparable addresses in your community have sold for. Starting at a price that is too high will turn off potential buyers, and if you need to come down on your price, your listing will be stale. However, no one wants to leave money on the table either.
Becoming Too Attached
It is hard to let go of your first home. It may be the place you bought with your spouse after your wedding or where your new baby took their first steps, but you know in your heart it is time to move on. Try to focus on the future and the life you will have in your new home, not the life you are leaving behind. Finding a place to live in the right community with the perfect amenities and floorplans can make the jump from your old house much more comfortable. There are plenty of new memories to be made in your new residence.
Showing the Home’s True Potential
Lastly, make sure your home is in the best shape possible. You have probably lived in this place for a while and therefore are used to its quirks and imperfections. However, a potential buyer wants to see the house in perfect condition. Take care that your home is staged, both inside and outside, so that photos will capture the attention of interested parties. Complete any necessary repairs and update fixtures that date the house. It will be worth the extra effort.