3 Things To Prioritize When Selling Your House
Today's housing market is brimming with never-before-seen possibilities. High buyer demand combined with historically low housing inventory has created the ultimate sellers' market, making now an excellent time to sell your home. That does not, however, imply that sellers will always be successful. There are a few things you should know to avoid making costly mistakes and winning big when you make a move.
1. Price Your House Right
When inventory is low, as it is now, it's common to believe that buyers will pay whatever we ask for when setting a listing price. That isn't always the case, believe it or not. Even in a seller's market, setting the right price for your home will increase the number of people who see it. This creates the ideal conditions for bidding wars, which are more likely to result in a higher final sale price. A real estate professional can assist you in determining the best price for your home in order to meet your financial objectives.
2. Keep Your Emotions in Check
Homeowners today are staying in their homes for longer periods of time. The average time a homeowner has owned their home, or tenure, has risen from 5 to 10 years since 1985 (see graph below):
This is several years longer than what was previously the norm. However, staying in one place for such a long time may cause you to become even more emotionally attached to your surroundings. If this is your first home or the home where your children grew up, it most likely holds a special place in your heart. Every room holds memories, and it's difficult to separate yourself from them.
For some homeowners, this connection makes it even more difficult to separate the house's emotional value from its fair market value. That is why you will need the assistance of a real estate professional to assist you with the negotiations.
3. Stage Your House Properly
We're generally pleased with our interior design and the way we've personalized our homes to make them our own. However, not every buyer will appreciate your design and personal touches. That is why it is critical that you stage your home with the buyer in mind.
Buyers want to imagine themselves in the space so that it truly feels like theirs. They need to see themselves inside, with their own furniture and mementos, rather than your photos and decorations. As they walk through each room, stage, clean, and declutter so they can visualize their own dreams. A real estate professional can offer advice on how to prepare your home for staging and sale.
Today's seller's market may be your best opportunity to sell. Let's connect today if you're thinking about selling your home so you can get the expert advice you need to get through the process and prioritize these important elements.