Thursday, 17 October 2013 20:56

Mistakes to Avoid when You Sell A Home

Don't make these common mistakes when selling your home

You've been wanting to move to a bigger and better place for some time but have been unsure of the housing climate. However, all the indicators point to rising real estate prices while interest rates remain affordable for buyers. This makes now an ideal time to sell a home. If you decide to jump on the profit bandwagon, avoid these common home-selling mistakes.

 

  • Basing your sale price on what you paid. The amount you spent on the house and how much you owe is irrelevant to determining its value. All that matters is how the price compares to those on homes with similar locations, sizes, and features. This means that if you bought at the height of the market, you may lose money on the sale. But if you bought a long time ago, you stand to make a big profit. Only your agent can come up with a price that buyers will expect for your property.
  • Thinking what appeals to you will appeal to other buyers. If it's been awhile since you've been house-hunting, you may not be aware of what potential buyers want in their homes. The gold foil wallpaper, tile countertops, and wood paneling may have been all the rage when you made your purchase. But today, these features are considered liabilities. Spend some time looking at model homes, so you'll know what's in. Then try to make the interior of your home match what you've seen.
  • Going it alone. You may think that the commission that a real estate agent charges to handle the sale of your home is a bit much. So you try to save money by doing it yourself. You'll soon see how much time it takes to advertise your house, open it up for showing, and negotiate prices. You must then complete all paperwork thoroughly so the transaction is legal and meets all applicable real estate standards. The only way you can be assured that everything is done correctly and efficiently is to hire a professional.

If you want more information on selling a home, or want to join the housing market, please contact us.

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