5 Tips for Selling Your Home for the First Time
Everyone talks about first-time homebuyers but being a first-time home seller is a huge task to take on as well. So, let me see if I can help you out if you're thinking of selling your home in the Hudson Valley.
When selling your house whether you've lived there for 2 years or 50 years, there's a lot of stress and planning that comes with, especially if you need the funds from the sale to purchase a new home. Here are 5 tips that I've got to put you in the best possible position to reduce the amount of stress you have while increasing the amount of money you get at the closing table.
Expect the Uninspected
When you find a buyer for your home, they're going to do a home inspection and some of them are going to bug you about the fact that the outlet that is 5 and a half feet from your sink isn't GFCI protected and it has to be because it's within 6 feet of a water source. Or maybe they find out something actually important like a small part of the roof that has been leaking for a year and has rotted out one of the supports in your attic. Whether it's a $15 fix or a $1,500 fix, it's important to know what is going to come up in the buyer's inspection report beforehand, so I always suggest getting a pre-listing inspection. If you can address some issues from the get go, or at least know what's wrong and how much it will cost to address it, you'll be in the best shape possible to handle any buyer's requests.
First Impressions are Everything
Buyers searching for a home is a lot like online dating. They make judgements based on the first few photos they see before even looking at the description. That's why setting yourself up with professional photography will be the single most important thing you do when listing. Also, clean your house inside and outside, curb appeal is a real thing and will make or break what some people are thinking about your house. While showing, you should try to live as cleanly as possible, which I understand can be difficult, but even some attempt is better than none! We Realtors can suggest as much as we want to, but it will be up to you to make sure the inside and outside of your home is perfectly spotless both for photos and for showings.
Everything You Own in the Box to the Left
Start packing or at least making notes of where things will be going once you decide you're going to sell your home. You don't want to wait until the last minute to pack up every part of your home, you'll go crazy and you may not make it in time, and once the papers are signed, you'll no longer own the house. Take the time you need to plan what you're going to keep, toss, giveaway or sell. Hosting a yard sale while your house is on the market is also a great idea and will get some extra people stopping by that could be a potential buyer or know a potential buyer as well.
The Price is Right
You know how on The Price is Right how some contestants will purposely bet $1 under someone else's bet to be more competitive? Well, you should use a similar strategy when pricing your home. Lots of people assume that if they want $500,000 (as an example), that they should list at $550,000 because someone might come in and lowball. That's one tactic, but doesn't net you as much as pricing slightly under what the market is worth. Marketing is always about increasing demand and getting as many people in the door and making offers as possible. By pricing higher than you're worth, you cut out or turn off a huge number of potential buyers. By pricing slightly under the market, you open up the pool to more people who might be willing to go slightly over budget for the perfect place which you may have. You should avoid overpricing and try to ever so slightly underprice when you list.
Say Yes to the Showing Request
If marketing goes well, you should have lots of showing requests lined up the days and week after you list. The first two weeks of a listing is the most important time and when you'll have the most action, so you should try to approve every single showing that comes in during that time. Your Realtor will work with you to give you a certain amount of notice before each showing, but you should try to be as flexible as possible. You may have 15 showings lined up through the weekend, and one of them could be the buyer of your home. It's not worth it to deny a showing because the next episode of Ru Paul's Drag Race is airing. It's on streaming anyway, you can just watch it later.
And those are my tips! If you're thinking of selling your home in the Hudson Valley, The Ally Team at J Philip Real Estate will be here to support you along the way and make sure you're set up for success.
Thanks for listening,