It is an age-old adage that the three most stressful events in life are death, divorce, and moving house. Moving house is especially difficult when it comes to selling your first home. Not only is selling your first home a significant financial undertaking, but it also involves moving on from a place that has held so many memories.
When you have no experience and are dealing with emotional and complex arrangements, it is all too common to fall into first-time home sellers’ pitfalls. Learning all that you need to know about selling your first home is essential for ensuring you do not fall into some of the most common first-time home sellers traps while ensuring you make the most out of the situation.
Research The Housing Market
One of the first steps that you will need to take when it comes to selling your first home is to research your local housing market. It is particularly important to research your local housing market if you have been living in the area for a long time.
When you are researching your local housing market, one of the first considerations to make is what houses are currently on the market. It is particularly useful to look closely at comparable houses that are on the market. A comparable property is one that has a similar amount of bedrooms, bathrooms, lot space, and features as your home. Of course, all houses will be slightly different, but having a look at comparable houses will give you a general idea of the asking prices in your area.
Not only will you need to consider the number of properties on the market but also the desirability of the neighborhood too. Living in a desirable area can have a great effect on the price of your property.
Improve Your Curb Appeal
Putting your property straight on the market is not always recommended. Before you list your home, you should spend some time making some improvements. One of the areas that you should focus on when you are making improvements to your home is your curb appeal.
First impressions are very important when it comes to selling a property. Of course, large improvements to your front garden will not have a massive impact on a potential buyer’s purchasing behavior. It can impact the overall decisions. You should make sure to
Have a Clear Out
Just as you should look to improve the outside appearance of your home, you should also be looking to update the interior of your property too. Having a clear-out can be a bit of an intimidating prospect, but it can be hugely useful both when selling a property and when it comes to moving house. When it comes to having a clear-out before selling your property, firstly, you should focus on removing items that are no longer of any use to you.
Once you have removed unnecessary clutter from your home, you should then spend time removing items that are overly personal. When a buyer tours a property, they are trying to imagine what their life in this home might look like. This process can be made significantly more difficult if they are surrounded by photographs of other people’s families. You should remove overly personal items, especially before taking photographs of your home for the listing.
Make Minor Renovations
Making some minor renovations and improvements to your property before listing your home can also help you add to its value. Of course, it is unlikely that you will be looking to undertake major projects, but small changes can be very useful. For example, you could give older rooms a facelift by giving them a new coat of paint. You should also replace some older and more worn-down fixtures.
Set The Right Asking Price
Setting the right price for your property is hugely important as it helps you to enter the negotiation table on a level playing field. Taking the time to research the housing market as well as consulting with experts will help you to better understand the right price to set your property at. It can be all too easy for first-time sellers to get emotional when selling their homes which is why it is so important to consult outside parties when setting a price for their first property.
Consult Lawyers
You cannot and should not try to sell your first home without any outside assistance. Selling a property is a taxable event which means that it is important that you understand the current tax laws. As Padua Law Firm explains, you should consult a lawyer before you finalize a deal with your buyer to ensure that you are not making any unexpected issues for yourself in the future.
Get Professional Photographs Taken
While you might be a passionate photographer, it is not recommended that you take photographs of your property yourself. Professionals know how to take the right photographs of the room, the right angels to make a room look spacious, and the correct lighting to ensure your property looks light and airy.
Not only will a professional know best how to photograph your property but also the right staging techniques too. Staging involves decorating a home to highlight its strongest assets. Having your home effectively staged and photographs will entice potential buyers to gain more interest in your home and to put your property in the best light.
Understand Your Priorities
When it comes to selling your home, there is a lot more to consider than just the price that you are asking for. For example, it might be important for you that a buyer is willing to forgo the home inspection process. Alternatively, you might be looking for someone who is willing to close quickly. On the other hand, if time is not pressing and you are willing to wait for a buyer who is willing to pay at or able above the asking price.
Taking the time to make a list of what is important to you and what your priorities are will ensure that you are able to get the very best deal for you.