3 Must-Do’s When Selling Your House in 2024
If one of your goals is to sell your house and relocate this year, you're probably feeling a mix of excitement about the future and nostalgia for your current home.
When you're ready to sell, remember these three best practices to help you balance your emotions and feel confident in your decision.
1. Price your home correctly.
The housing market shifted in 2023, as mortgage rates rose and home price appreciation returned to normal. As a seller, you must continue to recognize the importance of pricing your home appropriately in light of the current market conditions. Hannah Jones, an Economic Research Analyst at Realtor.com, explains:
“Sellers need to become familiar with their local market and work closely with a local agent to make sure their listing is attractive to buyers. Buyers feeling the pressure of affordability are likely to be pickier, so a well-priced, well-maintained home is the ticket to drumming up big demand.”
If you price your home too high, you risk turning away potential buyers. If you go too low, you'll be leaving money on the table. An experienced real estate agent can help you determine your ideal asking price, ensuring that your home sells quickly and for top dollar.
2. Keep your emotions in check.
Today's homeowners are staying in their homes for longer periods of time than in the past. According to the National Association of Realtors (NAR), since 1985, the average time a homeowner has owned their home has increased from 6 to 10 years (see graph below).
This is far beyond what was previously considered normal. However, staying in one place for an extended period of time may cause you to become even more emotionally attached to your surroundings. If it's your first home or the house where your family grew up, it probably means a lot to you. Every room holds memories, and it's difficult to separate from their sentimental value.
For some homeowners, this makes it even more difficult to distinguish between the house's emotional value and its fair market price. That is why you need a real estate professional to assist you with negotiations and the best pricing strategy along the way. Trust professionals who have your best interests at heart.
3. Stage Your Home Properly
While you may adore your decor and the way you've personalized your home over the years, not all buyers will share your aesthetic. That is why it is critical to focus on your home's first impression so that it appeals to the greatest number of potential buyers.
Buyers want to be able to envision themselves in the home. They should see themselves inside with their furniture and keepsakes, not your pictures and decorations. Jessica Lautz, NAR's Deputy Chief Economist and Vice President of Research, says:
“Buyers want to easily envision themselves within a new home and home staging is a way to showcase the property in its best light.”
A real estate professional can provide you with expert advice on preparing your home for sale.
If you're thinking about selling your house, let's talk so you can get help navigating the process and prioritizing these must-dos.