Selling your home is exciting but also stressful. For most people, a house is the most significant investment they will ever make. You do not want to waste all that hard work by committing a mistake during the selling process.
According to Fit Small Business, average home prices increased by 13.5 percent from 2021 to 2022. However, a seller’s market does not last forever, so if you want to sell, now is the time. Avoid the following mistakes to get the most out of your home sale.
Do not guess your home’s price
Pricing your home is not based on your emotional attachments or what you believe it is worth. There is an entire industry specializing in evaluating real estate. Reach out to someone who knows how to compare your home to similar houses on the market to get an accurate price.
Do not sell with negative equity
If you valuate your home and find you owe more than the house is worth, do not sell. Take time to build up more equity before listing the home. The only reason to owe money after a home sale is during bankruptcy or foreclosure.
Do not forget the costs
You need to plan for closing and staging costs, home inspection repairs, agent commissions, moving expenses and seller concessions. You might have a reasonable price for your home, but it must cover the costs mentioned above and more. Do not make the mistake of selling your home and paying the expenses out of pocket.
Real estate transactions have a lot of moving parts. It is easy to feel overwhelmed, but if you have realistic expectations, you have nothing to fear.