Selling your house is a big step, and it’s likely you’ve put a lot of thought into the decision before you decided to pull the trigger. However, there are many things you should consider before you even start the process.
When you’re ready to sell your home, make sure you think about these six things before you put it on the market!
1. The Season
What month are you planning to sell your house in? Each one has a different market to contend with. In the winter, houses often sell quickly because there is less competition. In the spring, many more come on the market and it can be tougher to get good bids. Summer and fall can be slower seasons because so many people opt to buy homes in the spring, so it all depends on what factors you want to prioritize.
2. Your Timeline
After considering the season, you should also plan out your expected timeline before you put your house up for sale. Most importantly, research to see if it is a buyer’s market or a seller’s market.
If it’s a seller’s market, are you prepared to close quickly and move out soon? And vice versa, if it’s a buyer’s market, can you afford to spend months waiting for the sale or are will you lose money paying two different mortgages.
The market changes year by year and even month by month, so it’s essential to understand what kind of timeline you should reasonably expect before you put your house up for sale.
3. Your Finances
Selling a home comes with a lot of extra costs. There are appraisals you may be expected to cover, repairs to increase the resale value, pricey problems that can turn up in the inspections, closing costs, taxes, fees, and more.
Before you sell your house, you should have a solid understanding of what it is going to cost you and if you can afford it. Additionally, put aside extra money for any unforeseen expenses that may arise.
4. Your Real Estate Agent
A real estate agent can make or break your sale. If you work with The Degnan Group, you’ll get over 150 years of combined experience from the company and with that comes a lot of specialized knowledge.
A competent real estate agent can sell your home faster and at a higher price than you might get trying to do it alone or with an agent who’s new to the market. Because of that, no matter what real estate office you decide to go with, it’s important to do thorough research before you sign any paperwork.
5. The Prep
Unfortunately, most people can’t just put their home on the market as is. You may try, but you probably won’t get very good results. The truth is, there is a lot of preparation that needs to be done before you can even consider selling your house. Some things that you should spend time on include curb appeal, paperwork, property inspections, and cleaning.
People rely heavily on their first impression, so fixing up the outside of your house before you host buyers is a must. Get it landscaped, add a fresh coat of paint, clean the windows, and explore other options that you can afford.
Then, get your paperwork in place. This includes your deed, your mortgage papers, insurance, pre-approval for a loan on your next house (if you’re buying at the same time) and more. Staying organized from the start can go a long way in speeding up the process.
Another good idea is to get your own inspection to make sure there isn’t any serious damage you’ll have to pay for. Many general contracting companies offer free property inspections to go over the roof, siding, and foundation. They will be able to spot any issues and help you get them covered by your insurance so you’re not blindsided later with expensive repairs.
Finally, it’s time to thoroughly clean and declutter your house. Pack up personal items and clean your appliances, drapes, and all the nooks and crannies that may have been forgotten for a few years. Then, declutter bathrooms, closets, and cupboards, and even consider a professional carpet cleaning to give a good impression to buyers when they tour the house.
6. Your Backup Plan
The final thing to consider before you sell your house is your back up plan. Of course, everyone hopes that things go smoothly on the market, but that doesn’t always happen.
What will you and your family do if your house sells too fast? Where will you live if you have to move out before you close on another one? On the other hand, what if it doesn’t sell fast enough? Can your finances handle two mortgages if it sits on the market for months?
You should have a firm answer for all of these and more before you decide to sell.
Consider These 6 Things Before You Sell Your House
Putting a house on the market can be stressful, but if you take the time to thoroughly think about these six topics before you start it will help everything go smoother.
Consider the season you’re selling in, your timeline, your finances, the prep involved and backup options in case things don’t go according to plan. Then, make sure you find a real estate agent you can trust, like The Degnan Group, to help you finish the process!