Things to Heed and Avoid When Selling Your House
Personal Finance

Things to Heed and Avoid When Selling Your House

Things to Heed and Avoid When Selling Your House 

Homeowners could encounter situations that necessitate selling their homes. It could be because of a job change or a family that is expanding. Maybe you’re retiring soon and you want to relocate. In some situations, the organization you work for might want you to relocate to another city. Alternatively, your reasons for putting your house up for sale could be financial in nature too. For example, your income might have diminished (or increased). As a result, you’re looking to settle down in a different neighbourhood.

The Dos and Don’ts of Selling Your House

Whatever your reasons for selling your house are, you need to ensure that it attracts prospective buyers. There is no use having a price tag on your house when all you get are visitors who just “want to look around”. To ensure that your house attracts the right kind of people, here is a list of things to note and avoid.

Dos:

  • Ensure that you price your house correctly. Asking for an improper price could make you miss several potential buyers.
  • Spruce up your house before you put it up for sale. This includes doing all the repairing, fixing, decluttering and painting. It might consume time, effort, and money. However, buyers do not like visiting houses that are work-in-progress. Paying attention to the small things first could yield big dividends later.
  • Make your house look welcoming by tidying up your yard. Mow the lawns. Trim the hedges. Place potted plants and flowers around the entrance of your house. Buyers often close deals based on their first impressions. Therefore, ensure that your house creates that favourable first impression.
  •  Ensure that your house remains clean each time you receive a prospective buyer. This includes polishing floors, cleaning drapes and blinds, having walls free of stains and a house that is dust free, no matter where you place your hand.
  • Remove any excess furniture and home décor accessories to make the house seem spacious and well organized
  • If required, install strategic lights around the house to make it seem brighter and more visually appealing.
  • Consider painting your rooms with warm and neutral shades to make them more appealing and comfortable
  • Ensure that you neutralize any odours in the house with neutral or light scents
  • Organize your cabinets, drawers and other storage spaces so that buyers feel that the house has ample storage space
  • Place your best china, tablecloth and matching napkins on the table to enhance the appeal of the house. Doing this would make it easier for the buyers to visualize what it might be like to entertain in your house.

Don’ts:

  • Overprice your home or avoid doing the homework when determining the value of your house. 
  •  Pick an agent or a realtor because you know them as opposed to their knowledge of the local market or expertise in sales 
  • Neglect scheduling a pre-listing home inspection 
  • Withhold material information from the buyer.
  • Neglect the impact of professionally taken photographs of your house

 

More Reading

Looking for some more tips on how to make the most out of selling your house? Read about the Worst Times To Sell A House. 

Pro-Tip

Want to understand more about buying and selling, supply and demand, and the market? Take our Fundamentals of Economics (A) course!

If you are looking to start investing your own money and taking matters into your own hands than you should read this very informative article on How To Make Money In Stocks which will give you the basics on the Stock Market and how to invest correctly.