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3 Mistakes to Avoid when Selling a Home in 2020

By January 3, 2020 No Comments

It’s exciting to put a house on the market and to think about making new memories in new spaces, but we can have deep sentimental attachments to the homes we’re leaving behind, too. Growing emotions can help or hinder a sale, depending on how we manage them.
When it comes to the bottom line, homeowners need to know what it takes to avoid costly mistakes. Being mindful of these things and prepared for the process can help you avoid some of the most common mishaps when selling your house.

 

1. Overpricing Your Home:

When inventory is low, like it is in the current market, it’s common to think buyers will pay whatever we ask for when we price our homes. Believe it or not, that’s far from the truth. Don’t forget that the buyer’s bank will send an appraisal to determine the fair value for your home. The bank will not lend more than what the house is worth.A good real estate professional will help you to set the true value of your home based on logic and strategy to achieve the best outcome.

2. Letting Your Emotions Interfere With The Sale:
Today, most homeowners have been living in their houses for an average of 5 years.

This is several years shorter than what used to be the norm,  however no matter how long you are in the home –  it’s your home and you will likely be emotionally attached to your space. If it’s the first home you bought after you got married or the house where your children grew up, it very likely means something extra special to you. Every room has memories and it’s hard to detach from the sentimental value.

You can also get caught up in what you “need” to make the move you want to make – or even getting the calculator out adding up everything you have spent on the home while you’ve lived there expecting that every dollar will be re-paid (and with interest) For some homeowners, that makes it even 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.

3. Not Preparing Your Home to Sell Well:

We’re generally quite proud of our décor and how we’ve customized our houses to make them our own personalized homes, but not all buyers will feel the same way about your design. That’s why it’s so important to make sure you stage your home with the buyer in mind. Buyers want to envision themselves in the space, so it truly feels like their own. They need to see themselves in the space with their furniture and keepsakes. Present and declutter your home so they can visualise their own dreams as they walk through your house. A real estate professional will help you with tips to get your home ready to stage and sell.

Bottom Line…

Today’s market might just be your best chance to make a move. If you’re considering selling your house, sit down with a trusted local real estate professional to help you navigate through the process while avoiding common seller mistakes.

 

About the Author:

Jo Mooney

Jo Mooney has worked in the Cranbourne & surrounding areas for over 6 years and is renowned for her straight talking approach & determination to achieve the best outcomes for her sellers which has resulted in an many of her clients returning to her over the years while also referring friends, family and colleagues for their real estate needs. Her professional mantra is “not my house, not my life, not my money” … my clients make fully informed decisions about their next steps with confidence knowing what I’ve told them is true.