5 Things to Avoid When Selling Your House
We all know that selling your home can be both really exciting and stressful . Market times can really fluctuate depending on the specific areas as well as a home’s price point. Here are a few problem areas or pitfalls to avoid when listing & selling your house.
- The number one rule of real state is location, location, location & a bad location can be challenging. Is your house on a busy street, backing up to power lines, in a flood plain, near the railroad tracks or train station, next to a highway? We all know you can’t change the location of your home but it’s important to overcompensate in other areas if you have a poor location. Keeping up with the maintenance of mechanicals like HVAC, water heater, roof & appliances can be a huge benefit. Keeping up with current home décor trends such as updated paint colors, darkening hardwood flooring, updating carpet & painting kitchen cabinets white can help potential home buyers overlook an undesirable location. And finally pricing your home well is the #1 thing you can do to sell your house quickly. Any home can sell no matter where the location if it’s priced right!
- Try to avoid selling in the off season. In most areas of the country, spring is the best time to sell your house with peak times in April & May. Winter is the worst time to sell your home followed by Fall. Spring & Summer tend to be peak seasons for listing and selling your house. It’s not to say that homes can’t sell during bad weather and holidays, but your buyer pool is limited.
- Is your house in bad condition, is there a lot of deferred maintenance? Is your roof older than 20 years old? Is your air conditioner more than 15 years old? is your furnace older than 20 years? Do you windows leak? Do your windows have cracks in them? Do your windows have broken seals? Is your landscaping overgrown? Are their cracks in your front stoop? Are there cracks in your back patio? All these things can be very costly to fix. I would recommend getting the advice of a professional real estate agent on which items to address first. You can always offer a home warranty to potential buyers through companies like American Home Shield or Hello Super. You can also use 3rd party rehab company such as Curbio. Curbio will fix, repair and refresh your home and get it market ready. They not only pay for the rehab and repairs upfront, they also provide project managers that manage all the contractors so you don’t have too! Curbio pays for everything and then you pay them back once your home closes nor do they charge any interest. Again consulting with a reputable Realtor should be your first step in deciding what to fix & how much to spend.
- Has your home been on the market longer than 100 days? Has your home come on and off the market in the last few years? When your house spends too much time on the market or MLS, it sends signals to buyers to be wary. This is especially true if the house swings back and forth between pending and active. Generally, a home sits on the market for a long period of time, if it’s overpriced from the start. If after 30 days you aren’t’ getting any 2nd showings or any offers, the rule of thumb is to reduce the list price by 5% and keep reducing by 5% until the house sells!! Avoid long market times by pricing your home right from the start.
- No Curb appeal can be a deal killer. If your lawn is unkept, bushes and trees overgrown, peeling or chipping paint on the front door, worn siding are all big turn off’s to potential buyers. You wouldn’t buy a piece of fruit if it was bruised & rotted would you? There are lots of things little things you can address before listing your home for sale and without spending a fortune. Getting the advice from a professional Realtor should be your first step in determining exactly what needs to get done upfront, what to price it at and what improvements should be made in order to sell your house fast and for top dollar.