Selling your home is stressful, but one of the best benefits of owning your own home nonetheless. This year, the value of the housing market in Tennessee alone saw a 21% increase! It’s a great time to be looking into selling your home, but the home selling process can be intimidating.
If you’re starting your own home selling checklist, we’re here to help. Here are eight vital home selling questions you need to ask yourself.
1. What Are My Selling Points?
Purchasing a house is an expensive, serious move for many people. First-time buyers especially usually make the purchase of their first home an enormous life choice.
That means that it can be difficult to convince people your house is worth such a big decision. The cost alone can sometimes be hard to justify, so you need to be aware of what makes your home worth buying.
Make a list of the selling points of your house. These are useful to say to others when they tour your home during an open house. Selling points may include:
- Location
- Commute times to other areas (downtown, beach, etc.)
- Most recent renovations
- Improvements like solar panel installations
Your selling points could be in the dozens! Consider what potential buyers would find impressive and highlight such features when selling your home.
2. What Are My Funds?
Selling a home can actually end up a rather costly process. If you’re advertising your home, you’ll need to factor marketing into your costs, for example.
You may also be splitting your funds with another homeowner such as a spouse or family member. Make sure that you have the money you need to actually complete a sale of your home before you start. Nothing is worse than beginning the process and realizing you can’t afford the things you need to complete the sale!
3. Where Will I Live?
It may sound obvious, but make sure that you aren’t selling the roof over your head. Many home sellers – especially first-timers – sell the only home that they have without an alternate residence. This is often because they intend to use the money from the sale to purchase their next home.
Unfortunately, the future is unpredictable and there can be consequences to selling your own home. You may have difficulties finding another home or finding them out of your price range. Make sure you still have an alternative residence before you get rid of the home you live in.
4. Is My Home Safe?
Selling a fixer-upper is one thing, but selling a home in a dangerous condition is something you must avoid. Many nations and states even have laws against knowingly selling a home that had poor conditions. In Minneapolis, for example, the city has mandatory inspections to sell a home.
Have inspectors come out to survey your home and make sure it’s safe. Fire inspections, safety inspections, and other such investigations are crucial. It also can help you sell your home if you have these seals of approval to show off!
5. What Improvements Could I Make?
When thinking of how to sell a house, you should also look at how you can improve your house. If your home has seen recent use as a resident, for example, there are plenty of changes you can make. Renovations help add value to your home and provide another selling point when speaking to potential home buyers.
One of the many things you can do is install new solar panels or other such highly-desirable renovations. Consider redoing areas like bathrooms, kitchens, basements, and other areas to make them as good as new. Retiling and fresh carpeting make great selling points and improve the value of your home on the market.
6. How Long Can My Home Be for Sale?
In addition to deciding on funds, you need to decide on how much time you can dedicate to selling your home. In many cases, selling a home is a full-time job. This is especially the case if you don’t have anyone assisting you, such as a professional agent.
You’ll need to be able to show your house, communicate with potential buyers, and make all of the other necessary steps to sell your home. How long are you able to dedicate to doing these things? Do you earn a living in an industry that allows you to complete these tasks, or will work take up much of your time as well?
Selling a home can be a lengthy process. Make sure that you can dedicate the necessary time to the task before you end up feeling in over your head. Above all else, don’t feel discouraged and budget your time correctly!
7. Can an Agent Help?
When you begin the process to sell your home, you should think of looking into professional agents near you. Real estate agents come with the knowledge and abilities you need to sell your home quickly, effectively, and at the highest value.
Consider networking beforehand to get to know some agents or agencies near you. You’ll be working with this person for quite a while, so it’s okay to be picky with what agency you work with. Agents can help take some of the load off your back and streamline the process of selling your house.
8. What’s My Next Move?
Selling your home can take up the majority of your time, so much so that thinking about the future can be tough. It’s important to keep your feet on the ground and think about what your next move will be.
When your house is sold, are you leaving the state or city you live in? Do you intend to spend the funds you receive on another home to start the process all over again?
Keep tabs on the future so that nothing catches you off guard and you can continue your forward progress!
Start Selling Your Home!
The home selling process is a lengthy one, so the best thing you can do is start selling your home now! Look into an agent, budget your time correctly, and know the selling points of your home. With the right attitude and know-how, selling your home will be easier than you expect.
For more information on homes for sale, feel free to contact us or browse our extensive blog.