There are few things in life that are more exciting and rewarding than selling your first house. But at the same time, it can also be one of the most stressful and confusing events in your life, especially if you go into the process unprepared.
The good news is – you already gained much of the knowledge and experience that you will need to sell a house – back when you initially purchased it. When you first bought your home, you were bright-eyed and likely unaware of much of the procedures, terminology, and challenges that come with the process. While you may not yet be a shrewd real-estate mogul, you will be more prepared and knowledgeable the time comes to sell the home.
Selling a house is both challenging and rewarding
Even still, selling your home comes with an entirely new set of tasks and obstacles, unlike those you experienced during the buying process. For those who are looking to prepare themselves for what lies ahead, read on to learn some valuable tips on selling your first house.
1. Make Sure You Are 100% Committed to Selling
Before you do anything else, you need to make sure you have analyzed every variable possible and that you are fully committed to selling. A few signs that you are truly ready to sell include:
- Being emotionally prepared for all that comes with selling the home and letting go of it when the time comes.
- Being equity positive, meaning you will make more than you owe once the sale is complete.
- Being able to buy a new home that is suited to your needs.
2. Time It Right
If you are looking for tips on how to sell a house quickly, you may not have the luxury of timing it perfectly. But if you are not in a hurry to sell, you may want to consider this aspect of the sale.
Do some research about your area and when most homes are sold for higher prices. You will likely be able to identify trends based on the time of year. If you can wait for a seller’s market, you are likely to sell your home more quickly and for more money.
3. Decide if You Want an Agent
As anyone who has gone through the process can tell you, selling a home can be a full-time job. If you are even considering selling without the help of an agent, you need to be sure that you can allocate enough time and energy to the process.
In most cases, first-time sellers utilize the services of a good real estate agent. Although it will take away a percentage of the money from the sale, the experience and expertise of an agent can be invaluable when you are selling your first house.
4. Be Ready for Staging
One of the major challenges of selling a house is living in a house that is for sale. During the process, you will need to keep your house as pristine and presentable as possible, and this can be difficult, especially if you have children. A few staging tips include:
- Reduce any unnecessary clutter
- Take down as many personal effects (i.e., family photos) as possible
- Remove child- or pet-related objects (baby gates, pet beds, etc.)
- Be ready to show the home at a moment’s notice
5. Make Necessary Repairs
The amount of repairs and improvements needed will depend on the needs of both the buyer and the seller. But even if you plan on selling as-is, you may still need to have some minor work done.
Before listing your home, have a pre-inspection done to help determine the potential problem areas for repair. While the buyer will have his or her own inspection performed later, this will allow you to get a jump on anything that might need to be done. Performing these repairs/improvements beforehand will also make the home more appealing to potential buyers.
While there may be more elements to deciding if you are ready, the above-listed tips will give you an advantage over the process and help you prepare to get the most out of your first home.
