Most people don’t have a lot of experience in buying or selling properties. That’s why they are prone to making costly mistakes that they may regret later. If it’s your first time selling your home, read on and take notes of the costliest mistakes first-time home sellers often make. Being aware of them is the first step towards making sound choices in real estate deals.
Neglect Necessary Repairs
Many people only sell their house when they are going through financial difficulties. That’s why it’s understandable many choose to neglect possible repairs that may help increase their property’s value in the market. Before making the choice to sell your property as-is, pull out the calculator and compare the cost of the repair to the additional price you can charge buyers.
Most buyers will tend to haggle down if the house condition is suboptimal and additional work is needed to make it habitable. On the other hand, buyers won’t mind paying a higher price for a perfect-looking apartment that they can move in right away. Always weigh in the benefits of upping your ask price when considering renovation costs.
List an Empty Home
What are your feelings when you enter an empty house with no furniture at all? Do you immediately feel empty and a bit sad yourself? Buyers will have the same feelings when they visit your empty house.
For two houses located at the same location with the same construction cost, the one with furniture will sell better. If you are moving all your furniture to the new house, don’t worry, local staging companies can help you set up the property in its most welcoming condition.
Selling it Yourself
If you are doing the selling yourself, chances are you are having a hard time determining the ask price. How much should you demand from potential buyers? How do you know if you are not selling it as a bargain or pricing it too high?
You need the expertise of a real estate expert to help you navigate through the complicated real estate landscape. Statistics have shown that houses without representation generally remain on the market longer than those that do.
No Tidying Up
Buyers don’t care how messy you are as a person—until they want to buy your house! Before taking photos for your online listing, make sure to clean up your home to make it look presentable. Remove all personal items and consider hiring a professional stager.
Put yourself in your buyers’ shoes. Will you pay attention to a listing with blurry photos showing a messy house? There are hundreds, if not thousands of listings in the same area. Having lousy photos will significantly reduce your chance of getting contacted by prospective buyers.
For first-time home sellers, the experience can be overwhelming. That’s why it’s always wiser to work with a professional real estate agent to make sure you don’t make a costly mistake on such a big transaction. By preparing your home well for the sale, you not only increase its market value but also show potential buyers what a great owner you are.