Selling a home may involve such a long to-do list; it can seem hard to get things done right. With some proper planning, however, you can avoid making the following home seller mistakes.
Home Seller Mistakes 101
Table of Contents
Not keeping your house clean
First impressions speak volumes. There’s nothing more off-putting to a potential buyer than walking into a filthy residence, but a thorough cleaning job can be a cost-effective way to make your home attractive to potential buyers. To make cleaning easier, first eliminate any clutter. Clutter includes the build-up of items within closets and cabinets, old appliances, clothing, and furniture. You may even consider donating the things you find to charity.
After removing any clutter from your home, create a checklist for what needs be done, in each room; this includes, but is not limited to washing windows, mopping floors, and dusting surfaces. You may want to hire a professional service to eliminate some of the efforts on your behalf.
Skipping on staging
According to House Method, staging your home is an opportunity to create a lasting impression on buyers. In home staging, you’re transforming your home into a place that’s attractive and memorable to buyers. Different from decorating, in the sense that decorating may involve sprucing up your home; with memorabilia and “stuff” that creates a personalized and sentimental place for you.
Staging is about creating an inviting and clean slate for the buyer to envision a place where they can see themselves and their stuff. Useful home staging emphasizes the stylistic elements of home while creating a lived-in feel, and can be achieved, with a few interior design refreshments.
Forgetting to claim tax deductions
Selling a home is usually accompanied by a windfall of cash, and as with every large sum of money, some inevitably goes to Uncle Sam. Fortunately; you can take advantage of certain tax deductions to maximize the profit you make on your sale. While all of these may not apply to you, the earlier you’re aware of these, the better (some are time-sensitive).
For example; you may deduct the cost of renovations or repairs, but only up to 90 days out from completion. If you’re debating on whether to buy or rent your next home, keep in mind that there are also many tax benefits to home ownership.
Not hiring a real estate agent
In an attempt to save on commission costs, home sellers may pursue a for sale by owner (FSBO) approach. While there is the potential of FSBO in parts of the country; less likely in New York City. There are countless advantages to hiring a real estate agent. They can help you price your home, give your home visibility to other real estate agents, in online listings, negotiate with prospective buyers, and navigate all the bureaucracy and jargon of home buying and selling. The key is to do your due diligence and interview real estate agents before selecting one, to find one you trust will put your interests first.
Lacking flexibility
When selling a home your living in, you likely don’t want the pressure of having strangers parade through on a moment’s notice. You may offer up showings with brief notice, set strict visiting hours, or only keep the property viewable for a matter of days. Consider the buyer’s perspective. Buyers who aren’t local may be in town for just a weekend, which means limited time to visit potential properties. Buyers’ work schedules and family commitments may also make evening showings their only option.
Real estate agents have their restrictions; they often plan home touring routes for their clients in advance and seek to create a schedule that is as hassle-free as possible. Such involves visiting properties that are easily accessible and available at any time. Every missed showing is a missed opportunity, so if you genuinely must be steadfast on showing hours; work with a real estate agent to create a schedule that involves some compromise but can accommodate many of your needs.
No matter the market if you want your property to be competitive and sell for the highest price possible; avoid these home seller mistakes.
