First Time Home Seller Tips
Buying a first home is a huge decision. Buying a first piece of real estate is often fraught with emotions. This is new process and it can be a daunting one. In some ways, selling a home and buying a second home is easier.
Many people who sell their first homes have never put a home on the market before. They’ve never had to juggle the process of putting up a beach condo for sale and looking for a new house at the same time.
When To Sell
A first home is a place of many things. It’s a place of dreams. This is where you stepped over the threshold as a young bride. It’s where you welcomed a new baby into your life. It’s the place of that first Thanksgiving dinner and time at the dining table with family and friends.
Deciding to sell a home may be based on many factors. It’s important to consider them all carefully. Chances are your circumstances have changed since you first bought the home. Perhaps there’s a new job with more income that can support a higher mortgage. Someone might want to move to another community for increased educational opportunities or be closer to a parent who needs their help.
Getting the Home Ready
Before you do anything else, you need to look at your home through the eyes of the buyers. See the home as you saw it when you first bought it. Think about what made it such an appealing place. Perhaps it was the lovely view or the maybe it was the cozy window seats and wood detail.
Your goal is to create a home that buyers will love as soon as they see it in person. Remember, you can’t change the location. You can make the most of the existing spaces. Now is the time to start the process of letting go and moving on to a new future.
Working With Professionals
After you’ve made the decision to sell, now is the time to think about working with professionals. Hiring a real estate agent is the next step. Contact agents and ask them to view the home. The agent is the first person who sees your property and sees it with totally fresh eyes.
Think of them as the typical informed home buyer. They’ll tell you what you need to know about the home before you can bring to market. For example, they might point out issues such as a broken door or a blemish on the wall that you hadn’t noticed before.
They can suggest minor changes such as updates that don’t cost much but will make any home stand out, even in a slow market. Ultimately, they will offer suggestions about exactly what to do before you bring the home to people who want to buy a home.
Understanding the Housing Market
As you sell this home, it’s important to know that times may have changed since it was on the market. Mortgage rates may be lower or they may have increased or are about to go up shortly. It is very important to know if it’s a buyer’s market, a seller’s market or a market where both interests are equally matched.
An informed agent can give you a list of comps. Recent sales provide important insights. They’ll indicate what a typical house sold for and how long it stayed on the market. Comps can also indicate exactly what buyers want and expect from the home such as a certain number of bedrooms and bathrooms. This is a good way to think about the ultimate asking price. A properly priced home, as any agent tells their clients, is one that will sell and usually sell very quickly.
Looking for a New Home
Now is also the time to think about any plans for that next home. People may already have a neighborhood or a home they’ve seen and loved. If you are moving long distance, now is the time to get a feel for the region’s existing homes.
If you plan to stay in the area, it’s a good idea to take the time and see what’s on the local market. This can help any seller decide exactly how to prepare their own home for sale. As this process continues , attend open houses.
See the competition in person. Note what you like most about the homes you see right now. Think about what does not appeal to you. A home that’s for sale can give you lots of clues about selling your own home.
The process of selling your first home and buying a new one can be exciting and fun. Take the time to think carefully and work with professionals as you take that next great life step.
For more information about selling a home and buying a new one, contact your local trusted Realtor today!