Thinking of Selling Your Home? Here are Some Things you Need to Consider
Just like anything else in the world, when it comes to selling your home, the more effort you put in, the better your performance. You might not have cared about a great score in your Human Sciences test in eighth grade, but when it comes to how much money you can get on your home sale, it’s time to pull those socks up and get to studying.
We’ve put together a cheat sheet giving you a heads up on what to keep a look out for and where to put the hours in so you get the biggest return for your efforts.
Why do you need a cheat sheet? Because we want you to get the best from your home, and we know how stressful and complicated putting your home on the market can be.
Know the Costs of Selling Your Home
Having a budget and access to a house sale savings fund will help smooth out any additional stressors. People tend to concentrate on the money selling a home will bring in so it can come as a shock when there is also some money going in the opposite direction. You need to account for some money going out so that the sale feels really worth it.
This will be something you can plan for, save for, and also have a direct conversation around with the agent who represents your home during the sale to be sure they suit your budget needs as well.
That way, the money that comes through after the sale won’t suddenly decrease before it’s even touched your bank account. You should expect that around a quarter of your sale (possibly even a little more) will be used in the Agent’s commission, advertising and marketing, renovations or structural fixes, auctioneer, and legal work by a solicitor or conveyancer. Bank fees to discharge your mortgage, as well as your moving costs, all need to be carefully considered and allowed for as well.
Practice Makes Perfect
If you have sold your family home before you have some idea what you are up against and what to expect. Even if you have this advantage, I’d still recommended you take his step.
Before you do anything, go to other open houses.
Choose houses that you like, or that reflect your home’s worth or character and also choose homes that are well represented. Choosing an agent is best done in the field. They will all sell you like crazy in their office or in an evaluation session, but what you really want to know is how they perform.
Pay attention to the advertising, the wording of the advertising, how well they know their stuff. If you like what you see online, in print as well as onsite. If the open you inspect matches what you were promised and you like the way you are treated when you arrive. Approach them outside of the inspection time and ask for an evaluation on your property.
Don’t simply book the agent who offers the lowest commission. Usually, commission prices are negotiable, so if you find a better price, put it to your preferred agent and see what they say. Also get more than one estate agent to give you a property appraisal to ensure the price you put on the For Sale sign is the right one.
Keep in mind that a better sale price, even with a higher commission, may still net you a bigger takeaway figure.
Finding your agent is step one of your field work, while you are out there though, check in on all the following points and see how well your open house has managed, and what a difference getting there (or not) makes on your impression of their home.
When to Sell?
When it’s right for you is the first answer but there are other things that sit behind that you need to be aware of.
Firstly, if you are selling in Adelaide, you can expect a fast sale, especially in Spring, when the weather is lovely and people are looking for a change.
If you are in the country or a rural area your sale may take longer so factor that in when considering the best time to start.
If you have the luxury of waiting for the perfect timing then you’ll be looking for a hot market trend, a time when there are more buyers than sellers and demand pushes the prices up.
That doesn’t necessarily mean you are the only house on your street for sale, if the house down the road sold last weekend and 50 people missed out, then you will see a difference when your auction comes up and 100 people show up hungry. In these cases, it’s most likely your location that drives the prices up, rather than your ceiling features.
In a colder market, your house may take more time to sell and it will be closer to your asking price than something surprising. People at this time will take longer to decide and really look at the details, they are looking for something that fits them, it’s more of a personal choice.
Your attention to detail in a cold market will really make a difference.
The best person to talk to about current trends and the best season to sell is a trusted Real Estate Agent.
First Impressions Make a Lasting Impact
Your home open inspection should have that feeling of let’s move in tomorrow. If you have your personal belongings on display it’s not going to feel like something someone else can own.
Clean up, clear clutter and any rubbish or bad odours. If you have pets, get some carpet freshener or lasting mist sprays and keep it simple. You want to say, ‘this could be yours’, not ‘welcome to my home’. Make sure the impression that you give is one they want to own.
Put in The Effort
Unless you know your home is going to be sold as a ‘renovators delight’, it needs to look like someone can buy and not worry about the next things. If there are any obvious repairs that need attending too, do them straight away. Even if it’s something small, visitors through will be looking for faults so the smallest thing will draw their attention.
Of course, there will be things they’ll want to make over themselves, in any home, even a new one that is always the case, but let it be the things the new owner decides to work on, not the things they have to maintain by inherited obligation. Loose doorknobs, dripping taps, grass growing in your gutters and marks on the walls all need to be addressed and addressed thoroughly.
This is especially true of the front garden and entrance, including wobbly steps and peeling paint. Even superficial things like cobwebs taken care of will ensure a top first impression. That doesn’t just mean the primal items either, you also need to be looking at your lounge, your pictures and the curtains. They need to be dust and stain free and no tears or rips. Although these items are not included in the sale, they say a lot about how you value your property.
Now you know what everyone else is doing right and wrong in their opens, do yours right. Get a friend or neighbour to walk through before your potential buyers come through, so they can give you a once over workout on the presentation of the house.
And remember. You’re selling the house. The parts that make it a home go with you.
If you’re ready to take the firsts steps towards selling your home, contact us today.