Buying a home for the first time can be an exciting process. There are countless resources, tips, and guides to assist you. However, selling your first home is often overlooked, even though millions of people are first-time home sellers each year. If you are thinking about selling your first home, read on to learn what factors you should consider before making your decision and how to make the process easy for you.
Why Do You Want to Sell?
If you’ve been living in your first home for a while and begin thinking about selling, ask yourself why before doing anything. Many homeowners start to think about selling if they have children or are looking to expand their family. They may need more square footage or prefer to live in a different school district. Other times, homeowners who are older or looking to retire may want to downsize because they no longer need a large space. A homeowner may also want to sell if they have recently accepted a new job and want to move closer to the office.
These are all great reasons to sell your house. However, if you’re unsure or don’t have a concrete reason as to why you want to sell, it may be a good idea to wait. Selling a home can be time-consuming and expensive, so it’s important to be sure of your decision once you begin the process.
Create a Timeline and Plan
Once you’ve decided to sell, it’s time to start planning. Many first-time home sellers don’t create a plan or timeline, which can often cause the process to become incredibly lengthy. First, you’ll want to determine when the best time is to sell a home in your area. Your local real estate market can impact the timing of selling your home and your sale price. Unsurprisingly, it usually takes longer to sell a home during the winter months than in the summertime. You should create your timeline with this in mind so that your home doesn’t stay on the market as long and you receive more money.
You will also want to research local real estate agents to help you with the process of selling your home, and you may even want to meet with a few before deciding on one. In addition, if your home needs repairs, you’ll need to complete those before placing your home for sale. You’ll learn more about working with a real estate agent and getting your home ready to sell in the next sections.
Complete Repairs and Renovations
Before taking photos of your home or even staging it for showings, you’ll want to make sure that all repairs are completed. Preparing your home to sell can include a wide array of efforts. You’ll want to make sure that your home not only looks inviting to buyers but also that it can pass a home inspection. Most buyers inspect the home before they decide to make an offer, so having a pre-inspection done is a good idea. A pre-inspection can point out any issues that may later come up with the buyer, so getting these repairs and renovations completed before that stage of the process can ensure your home sells quickly.
Be Willing to Negotiate
Although your real estate agent will help you price your home competitively for the local market, a home seller usually does not receive the listing price at the time of closing. Home sellers must be prepared to negotiate with potential buyers the price if they truly want to sell. Most buyers will make offers below the asking price, so you’ll need to decide how much you are willing to take off the listing price. It is a good idea to have a number in mind before placing your house on the market. Your realtor can assist you in determining a fair price to accept from a potential buyer.
If you are thinking about selling your first home, there’s a lot of planning that must be done. A real estate agent can work with you and guide you through the process, ensuring a smooth transaction between you and the home buyer. If you’ve decided to sell your home, contact one of the experienced realtors on The Katie McNeill team today to get started on the home selling process.