It’s exciting to put a house on the market and consider creating new memories in new spaces. However, despite the anticipation of what is to come, we can still have deep sentimental ties to the home we are leaving behind. Growing emotions can help or hinder sales depending on how we manage them.
When it comes to the end result, homeowners need to know what it takes to avoid costly mistakes when it comes time to move on. Being attentive and ready for the process can help you stay on the right track while selling your home this year.
1. Price Your Home Right
When inventory is as low as it is in the current market, usually thinking that buyers will pay everything we ask for when setting a list price. Believe it or not, that’s not always true. Don’t forget that the buying bank will send an appraiser to determine the fair value for your home. The bank will not lend more than what the house is worth, so be aware that you may need to renegotiate the price after the assessment. A real estate professional will help you set the true value of your home.
2. Keep Your Emotions
Today homeowners live in their homes for a longer period of time. Since 1985, the average tenure, or the time a homeowner has owned their home, has grown from 5 to 10 years. (as shown in the graph below):This is several years longer than what was previously the historical standard. The side effect though is when you stay in one place so long, you might balance out more emotionally connected to your space. If it’s the first home you bought or the house where your kids grew up, it most likely means something extra special to you. Every room has memories, and it’s hard to detach yourself from the sentimental value.
For some homeowners, this makes it even harder to negotiate and separate the emotional value of the home from the fair market price. That’s why you need a real estate professional to help you with the negotiations along the way.
3. Stage Your Home Appropriately
We are generally quite proud of our decor and how we have adapted our houses to make them our own unique homes, but not all buyers will feel the same way about your project. That’s why it’s so important to make sure you’re staging your house thinking about the buyer.
Buyers want to anticipate themselves in the space, so it really feels like it could be theirs. They need to see themselves inside with their furniture and souvenirs – not your pictures and decorations. Stage and detour so they can visualize their own dreams as they walk down the hall. A real estate professional can help you with tips for preparing your home for staging and selling.
Today’s retail market could be your best opportunity to move on. If you are considering selling your home, let’s log in so you have the help to navigate through the process prioritizing these essentials.
Content previously posted in Keep Current Things