With a task as large as selling your home, it is important to know what it takes to avoid costly mistakes. Being mindful of these things and prepared for the process can help you immensely! We love helping our community and sharing our knowledge, so this month we are here to give you the top 7 mistakes to avoid when selling your home.
1. Selling It by Yourself
Not using a real estate agent, or for sale by owner route, is a huge home-selling mistake. You could miss the chance to make a whole lot more money. The latest data shows the typical FSBO home sold for $200,000 compared to $265,000 when sold by an agent. Most sellers already know it’s a mistake. Last year, less than 10% of all sellers sold their home by themselves compared to the 90% who used an agent. Give us a call at Delphi Realty Group a call to get your started! (925) 705-1300
2. Underestimating the cost of selling your home and moving out
Many home sellers forget about the costs associated with selling a house. Don’t let these costs set you back. You will need to budget for agent commissions, closing costs, staging costs, seller concessions and your next home. Another one of the largest underlying costs is not budgeting for your move!
You have two options: hiring a moving company or do it by yourself. A full-service mover can be well worth the investment. When you hire movers your belongings are insured so you’re covered if anything breaks.
3. Selling a house you owe more on than what it’s worth
If you still have a remaining mortgage, you’ll likely use part of the sale of your home to pay off the existing balance. Make sure you don’t owe more than what your house is worth. You won’t make enough money on the sale to pay it off. If you still owe more than you’d like, the best option is to wait on selling so you can build more equity. This way you can sell your home and buy a new one. You don’t want to have two mortgages at the same time!
4. Letting Your Emotions Interfere with the Sale
It’s exciting to put a house on the market, but we can have deep sentimental attachments to the homes we’re leaving behind, too. Unfortunately, emotions can hinder the selling of a home. Today, most homeowners have been living in their houses for an average of 10 years. The side effect is becoming emotionally attached to your space. If it’s the first home you bought after you got married or where your children grew up, it means something extra special to you. It is hard to detach from sentimental value.
That can make it harder to negotiate, separating 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 in the process. (Once again, call us at Delphi and we will help you! (925) 705-1300 🙂 )
5. Not finishing home projects, properly cleaning or leaving mismatched appliances
Since potential buyers are going to be inspecting every aspect of your home, you should start thinking of refinishing your hardwood floors and cleaning your carpet. The best time to have your carpet cleaned or hardwood floors refinished is right before you stage your home. This will make a big impact. You want to make the best first impression possible. Make upgrades like these a selling point to potential buyers!
Maybe you swapped out that white kitchen faucet with a copper one that caught your eye, and now you have a blue refrigerator after your white one died a few years ago. Either way, the result is mismatched appliances. While it won’t impact the overall sale price, many homebuyers are going to find this to be a big turn-off. Consider making some cosmetic changes before putting your home on the market!
One more cleaning tip: We’ve said it before and we will say it again, if unpleasant smells are detected, prepare to do some deep cleaning. Buyers are on to seller’s masking techniques, which include candles or room deodorizers. Covering up odors with a stronger scent like these might backfire if the buyer doesn’t like the particular scent.
6. Not Staging Your Home
The main point of staging your home is to allow potential homebuyers the chance to picture themselves living in your space. This is something that everyone that enters your home tends to do, whether they realize it or not! Nothing refreshes a lived in home like some new furnishings. The key is getting your home staged by a professional. Home stagers evaluate the condition and possessions in your home and determine what might appeal to the buyer and what needs to go! In some cases they may recommend you buy or rent some items, or they may just need to reorganize your home in a whole new (and better) way. Why not make buyers feel as intrigued as you possibly can?
7. Trying to sell a poorly lit home
I feel that this tip is one of the most important. No one wants to step into a home that is dark and uninviting. It will leave them with a bad feeling when they leave the premises and could potentially ruin your chances of selling your home at asking price. You want to show your home in the best light, so take the time to gauge the quality of your lighting by closing your curtains/blinds and looking at each room as though you’re a potential homebuyer. Make a note of any rooms that are poorly lit seem dark and call an electrician asap!
For comments or inquires contact:
Alex Khodadad, Broker, CPA
1930 Contra Costa Blvd.
Pleasant Hill, CA 94523
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