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8 Mistakes To Avoid When Selling Your First Home

Written by Posted On Thursday, 12 December 2019 11:27
8 Mistakes To Avoid When Selling Your First Home Photo by Stephen Leonardi on Unsplash

Selling your first home is a rite of passage - with some common mistakes involved. Making the transition from buyer to first-time seller can involve some pitfalls. But - here’s the good news: Doing your homework prior to putting your home on the market will ensure that the process goes as smoothly as possible. So, let’s take a look at the most likely problems - and how to avoid them.

1. Your home needs work

If you’ve already found your perfect neighborhood or new home, you may be ready to call a realtor, stick the “For Sale” sign in the yard, and wait for the offers to roll in. But, if your current home needs repairs - slow down.

In today’s housing market, most buyers aren’t willing to overlook things that will need work. Additionally, an inspection will inevitably find problems. So be honest with yourself. Take the time and make repairs and updates before you list your home.  Keep the repair receipts, make them available to potential buyers, and you’ll be much more likely to get that contract quickly.

2. Don’t cover up problems

This is a natural partner to getting those repairs done. As the homeowner, you should know about any problems in your house. You’re aware of any leaky faucets, a temperamental HVAC unit, or a gutter issues. If you don’t want to repair them, be prepared to put your house on the market at a reduced rate or to offer a credit towards rectifying any issues.

3. Picking the wrong real estate agent

It really pays to do your homework. Talk to friends and coworkers about who they’d recommend, and research who’s listing (and selling!)  the homes in your area. You never have to sign with the first agent you speak to. There’s an enormous difference in dealing with a realtor who just lists your house and never checks in - or partnering with one who is actively involved with marketing your home. When you’re selling your first house, it’s important that you feel comfortable with the process and can depend on your agent’s experience.

4.  Not being realistic about the market

This mistake can be avoided with a good real estate agent - but don’t just jump in without your own research. Pay attention to what’s selling in your area. Be aware of houses that are on the market for a long time - then do some digging for the reasons they aren’t selling. There’s always a perfect balance between features and listing prices, and knowing this type of information is essential. If you’re ready to move, it’s best to price your home competitively to make sure it’s attractive to buyers.

5. Feeling emotionally attached

This is a common reason sellers aren’t realistic about their home’s market value. With your first house, there are bound to be some emotional ties. There are so many memories, and you can easily list every wonderful feature. When someone comes in with a lowball offer, it feels personal! 

How to avoid it? Try to stay objective, and focus on the home you’re planning on moving into. You’ll soon be there - building memories and enjoying all the new features!

6.  Losing sight of closing costs

Remember all the paperwork, negotiations, and fees when you purchased your first home? Unfortunately, you’re not off the hook when you’re on the seller’s side. You’ll have closing fees, to contend with, too. If you’re working with a real estate agent, they can help you figure out your costs, which can include realtor commissions, taxes, title insurance, and more. Online resources and calculators can also help you get a handle on your potential closing costs. Don’t let them be an unpleasant surprise.

7.  Neglecting your visuals

With most home shopping initiated online, it’s essential that you prepare your home for its photo sessions. Clear, appealing photos will entice buyers. Be ready to clear away clutter, put away personal items, paint some walls, and hire some cleaning help. Outdoor features  will have their time in front of the camera, too - it’s time to tidy up lawns and flower beds, and boost your curb appeal. In a competitive market, you’ll want to present your home as a blank slate that buyers can imagine their belongings in. Go ahead and invest in some moving boxes - it’s great motivation to start packing!

8.  Not helping potential buyers

Don’t forget - It’s going to be a big adjustment in your daily routine once your house is on the market. You might need to put a family pet in a boarding kennel, hire a cleaning service, be prepared to duck out of the house on short notice, and agree to multiple open houses. The more flexible you can be with assisting any showing of your home, the easier it will be to sell it. When you’re preparing to put it on the market, take a deep breath and plan for some disruption - it’s worth it once you’ve made the sale and are on your way to your new home!

Everyone knows that selling your first home can be stressful - it’s best to focus on the thoughts of what’s ahead when you’re settled into your new house! Keep calm, keep cool, and be prepared - just remember our tips. 

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Ken Marshall

Ken handles all things related to content and online branding for Generation Homes NW, a
homebuilder in Washington State with over two decades of building and design experience. He
enjoys his home and all things related to organizing it for maximum comfort.

https://generationhomesnw.com/

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