Plopping it on the market and getting a quick sale just isn’t how it works and there are realistic expectations when selling your house that you must consider. You might have had your home for a long time and feel that it is time to move to greener pastures or you may be like a nomad selling house after house.
Whatever you decided to do there are some things that always come with selling a home and for first-time sellers especially, these things are very important to know.
As with anything there can be hidden costs, barriers, and preliminary tasks that should be carried out and many people don’t realize that selling a house isn’t as straightforward as placing it on the market and getting a quick sale.
Some of the more common surprises are:
- Costs
- Time
- Makeover
As with anything that uses a broker or agency there are costs and commissions while selling a house can take a long time and a makeover can really help with this.
Always More to Pay
Whether you sell privately or use a real estate agent, there are always costs and commissions involved. An agency will typically charge 6% to 10% for facilitating a transaction while going private means consulting lawyers and conveyancers, who will also charge you a fee.
Other expenses such as moving costs, selling fees, and repairs should also be taken into consideration and you should expect your total expenditure to be around 15% of the total selling price of your home. However, there are private cash home buyers that can handle everything and pay you promptly.
Not on Your Side
One of the most overlooked things when selling a house is the time it takes to do it. From start to finish there are a lot of tasks involved in selling a house, from deciding on a realistic price to handing over the keys, and selling a house takes around 4 to 6 months on average when done properly.
The first step is to consult an agency that can evaluate your home and give an initial assessment of how much you can reasonably expect to sell it for. While they will usually advise a renovation in order to increase the value, this can take a long time, especially if you are short on money and/or work full time.
A Blank Canvas
One of the best ways to lock in a sale is to give your home a makeover. This is almost essential in the modern real estate industry since nobody wants to move into a dirty home or one that needs many repairs. While a complete renovation isn’t expected, or maybe it is, tidying the home goes a long way when trying to sell.
Potential buyers like to be able to envision their own lifestyle in a home, so redecorate with neutral colors, declutter as much as you can and raise curb appeal by gardening, having a deck built, or repainting the outside of the home. These might be costly initially but can pay off in a big way.
