Its exciting to put a house on the market and to think about making new memories in new spaces. However, despite the anticipation of whats to come, we can still have deep sentimental attachments to the home were leaving behind. Growing emotions can help or hinder a sale depending on how we manage them.
When it comes to the bottom line, homeowners need to know what it takes to avoid costly mistakes when its time to move. Being mindful and prepared for the process can help you stay on the right track when selling your house this year.
1. Price Your Home Right
Wheninventory is low, like it is in the current market, its common to think buyers will pay whatever we ask when setting a listing price. Believe it or not, thats not always true. Dont forget that the buyers bank will send an appraiser to determine the fair value for your house. The bank will not lend more than what the house is worth, so be aware that you might need to renegotiate the priceafter the appraisal. A real estate professional will help you set the true value of your home.
2. Keep Your Emotions in Check
Today, homeowners are living in their houses for a longer period of time. Since 1985, the average tenure, or the time a homeowner has owned their home, has increased from 5 to 10 years (as shown in the graph below):
This is several years longer than what used to be the historical norm. The side effect, however, is when you stay in one place for so long, you may get evenmoreemotionally attached to your space. If its the first home you bought or the house where your children grew up, it very likely means something extra special to you. Every room has memories, and its hard to detach from the sentimental value.
For some homeowners, that makes it even harder to negotiate and separate the emotional value of the house from the fair market price. Thats why you need a real estate professional to help you with the negotiations along the way.
3. Stage Your Home Properly
Were generally quite proud of our dcor and how weve customized our houses to make them our own unique homes, but not all buyers will feel the same way about your design. Thats why its so important to make sure you stage your house with the buyer in mind.
Buyers want to envision themselves in the space so it truly feels like it could be their own. They need to see themselves inside with their furniture and keepsakes not your pictures and decorations.Stageanddeclutter so they can visualize their own dreams as they walk down the hall. A real estate professional can help you with tips to get your home ready to stage and sell.
Bottom Line
Todays sellers market might be your best chance to make a move. If youre considering selling your house, lets connect so you have the help need to navigate through the process while prioritizing these must-dos.
