Selling your home is a huge commitment and could be one of the most important financial decisions that you ever have to make.
Selling your house is not only a huge financial decision, it’s also a huge emotional commitment as well. Once you are happy that you’re making the right decision, however, it’s important that you do things correctly. Not only is selling your home time-consuming, it can also be very stressful and if you’re not careful, it can even end up costing you money.
People assume that selling a house is simply a case of contacting a Real Estate agent, putting it on the market, and then sitting back and waiting for the offers to roll in. In reality, selling your house is a very complex process that you need to get right.
To help ensure your house sale runs smoothly and you don’t encounter any unforeseen problems, here are several common mistakes to avoid when selling your house.
Trying to Add Too much Value to Your Home
One of the most common mistakes that people make when selling their home is trying to add too much value to it.
People will redecorate, add new furnishings, spend money on the garden, change the windows, and much more, in the hopes of increasing the value of their home. Sure, you can add value to a property that way, but you can also wind up spending too much and eating into any profits you may make from selling.
By overdeveloping a house, you are also at risk of overvaluing your home, and making it considerably more expensive than other properties in the neighborhood.
Not Taking Care of any Maintenance Work Needed
On the opposite side of the coin, another common mistake people make when selling a home, is avoiding any maintenance work that is required.
Some people think that, as they’ll be moving soon, it isn’t worth taking care of any DIY and maintenance jobs needed around the house because it isn’t their problem. The main issue here is that people are less likely to spend money on a home needing a lot of work doing to it.
Whether it’s a leaking faucet, some peeling paint, a squeaking door hinge, or anything else, before you list your property for sale, make sure you take care of any outstanding maintenance jobs which are needed.
Overpricing the Property
Perhaps the most common mistake people make when selling their house, however, is getting greedy and overpricing their home.
Buyers and Real Estate agents will know the value of a property and of properties in the area and if you overprice yours, buyers will not take too kindly to this. Put simply, overpriced properties rarely sell, unless you find yourself in the midst of a housing bubble.
When selling your house, listen to the valuation your real estate gives you and then go ahead and list it for that amount. If you get greedy, the property won’t sell, and you’ll likely tick off prospective buyers.
Not Using a Real Estate Agent
Finally, the last mistake people make when selling a property is one which is far too common and is one which will ultimately end up costing them in the long run. Yes, we’re talking about not hiring a professional real estate agent.
Despite the fact that these agents work on a commission basis, it is still more than worth hiring one.
A real estate agent will help you set the best, yet most realistic price for your home, and will also help to maximize your chances of selling quickly. Agents can act on your behalf and speak to potential buyers, and guide you through the process.
Put simply, real estate agents earn a living from selling homes, and failing to hire one when you’re thinking of selling up could prove to be a costly mistake.