So, you’ve decided to put your home on the market! And now, you’re eagerly anticipating the moment you’ll trade in the house keys for a big pile of cash to fund your next big adventure.
However, it goes without saying that selling your home is one of the biggest transactions you’ll ever make, and messing it up will spell disaster for your other financial goals – something you simply cannot afford.
Therefore, it’s important to exercise patient and do some proper research before you make a selling decision. To help you avoid any decisions that you may regret further down the line, we’ve compiled a list of some of the most common home-selling mistakes. Here they are.
Hiding Major Repairs
Think you’ll be able to hide that roof leak or that bug problem from prospective buyers? Well, think again. The modern homebuyer is a smart breed, and most of them are assisted by a real estate agent who’s well-versed on the ins and out of purchasing a house. So, don’t be surprised if they go through with a home inspection after their offer has been accepted.
And if the home inspection reveals that you haven’t been entirely honest about the condition of the house, the closing date could end up getting delayed, or the buyer may even decide to terminate the deal altogether. This will not only cost you time and, potentially, money, but could also end up damaging your reputation in the market if the word gets out.
Therefore, the best option is to have a home inspection performed yourself before you put the property on the market. This way, you’ll be able to ensure that it’s in great shape for any potential buyer.
Not Staging Your Home
While home staging doesn’t sound too big of a deal, ignoring this small but crucial step is a major home-selling mistake. Talk to any experienced realtor and they’ll tell you that staging your home could significantly accelerate the selling process. Moreover, 33% of agents state that staging your home can increase the amounts buyers offer by 1-5%, while others stated that it boosted the amount by 6 to 10%! In other words, if you stage a home that’s worth around $300,000, you may be offered an extra $3,000-$30,000! Not bad for a few hours’ worth of effort, right?
Want another pro tip? Rent out decorations and furniture form a staging company instead of showing an empty house to your prospective buyers. This’ll help them envision how the house would look like if it became their home.
Taking Offense to a Low Offer
It’s important to remember that the amount a buyer offers for your home doesn’t reflect their opinion of your property or your housekeeping skills. If they’ve made an offer it mean they like your home, right? So, instead of considering a low offer as an insult, make a counteroffer. Now is the time to negotiate!