Any one of these four mistakes has the potential to bring down not just the value, but the sale price of your home, no matter what the current real estate market conditions are. You want buyers to choose your home as “the one”, so make sure it not only stands up to the competition, but stands OUT!
These mistakes can easily be avoided by first, knowing what they are, and second, taking the steps to prepare your home for sale to bring you a higher selling price.
Mistake #1 – Stepping Back in Time
The largest number of buyers represent the group that prefers to “move right in”, meaning that if your walls are still covered in the wallpaper your grandmother picked out, it can be a huge turn off. Most buyers will not give much thought to purchasing a home if they have to change every room. A good recommendation to appeal to more buyers is to have the wallpaper removed and a fresh coat of paint on the walls. Painting is a relatively inexpensive way to completely transform the look of a room, and a great way to attract interest. When choosing paint colors, remain neutral to match any one’s taste and decor. Here are 5 easy updates you should consider when selling.
Mistake #2 – They’re Only Minor Repairs, a Buyer Will Overlook Them
Home owners often overlook the minor issues because they’ve become accustomed to living with them. The dripping faucet in the bathroom may not be a concern to you, but it will be a concern to potential buyers. It’s better to spend a little bit of money now and repair the issues than to accept a lower selling price. Remember, it doesn’t matter to a buyer what you think you should be selling it for, they will only offer what they perceive the value to be. A few things to do before listing are:
- fix leaky or dripping faucets
- replace burnt out light bulbs
- WD-40 hinges that squeak
- fix screens that have holes
- replace missing baseboards
- make sure all windows open and close (and lock) easily
Mistake #3 – Selling on Your Own
Selling your home is one of the most important financial transactions you will make in your life. Don’t take risks. Selling your home is nothing like selling a car. Every home is different and every home buyer wants to offer you as little as possible. How do you determine the real market value? The bottom line here is that errors can be extremely costly.
A Realtor will help you negotiate with all those buyers who are determined to bring down your listing price. Not to mention preparing your home for sale, marketing it and guiding you through the complex paperwork and pitfalls of inspections and closing. Make sure you are really ready to handle all of that before putting that sign in your front yard.
Mistake #4 – Overpricing
There are multiple factors that go into determining in what price range your home should be listed for. Regardless of what you think your home SHOULD be worth, potential buyers are going to be comparing your home to others in the same price range and the same area. A Realtor will take into consideration the comparables (comps) in order to list your home at fair market value.
Overpricing your home will hurt you in the long run because it will be on the market longer, causing you to keep paying the mortgage as well as the utilities. Not to mention if you’re also buying a home and you close on that one while you still have the one for sale. Now you have two homes, two mortgages, two sets of taxes, etc.
What other concerns do you have about selling your home?
My name is Barbara Bottitta and I am a Realtor/Partner with Keller Williams Real Estate and team leader for the Barb Bottitta Team of Lehigh Valley Home Experts. Our team of professionals include a listing and closing specialist so that from the starting line to the dotted line you won’t find another agent or team that provides better service, works harder – or cares more – than my team. My husband, Lou, and I have lived in Lower Macungie for over 30 years; our grown children attended Emmaus High School and we feel fortunate that our grandson is growing up in the Lehigh Valley as well!
Contact me for your Lehigh Valley area questions and real estate needs, and like my Facebook Page for area events, home ownership tips, real estate market updates, tips for home buyers and sellers, and so much more!
There are many great Lehigh Valley area homes for sale. Click here to perform full home search, or if you’re thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today’s market. You may also call me at (610) 398-8408 for a FREE home buying or selling consultation to answer any of your real estate questions.