Steps to Prepare to Sell a Home
You’ve decided to sell your Houston home. So, how exactly do you go about selling property in Space City? These steps will help you figure out how to build a plan so that you meet all your real estate goals!
Set Your Intentions
When selling a home, most people’s goals revolve around one or two things. Time and money tend to be the main two.
Time
Think about your situation and what time means to you. Are you looking for a quick sale? Depending on the market and demand for your property type, you might be able to sell in a flash and still get above-market value. The glut of inventory throughout 2021 and early 2022 raised prices and slashed Days on Market measurements, making it an ideal time for many people to sell.
Maybe time for you means preparing to sell for a specific time of year, such as after school lets out for the summer. Or, maybe you need some extra time to spruce up your interior and make some exterior updates. Defining time as it relates to your unique circumstances will be important in your decision-making process, so be sure to think about this early.
Money
Of course, everyone wants to earn money on the sale of their home. However, if the value has dropped substantially or your home needs significant work to attract potential buyers, you may need to put in a little elbow grease. More on that later! Sellers also consider how the potential cost of their next home may play into their views on money. Will you set a minimum offer value to accept? Moving to a higher cost of living (CoL) area may make achieving a certain sales figure all the more important.
Verify with your mortgage lender how much money you owe on your home. Knowing this is crucial for putting a plan together for how much money to budget for renovations and how much capital to put towards your next home.
Commit to a Sales Strategy
Decide if you’re going to sell your home on your own (“for sale by owner,” or “FSBO” for short) or enlist the services of a real estate agent. Consider the pros and cons of each choice.
Selling your home on your own requires more time and effort than you think. You’ll need to research comparable sales in your neighborhood, market across multiple platforms, maintain flexible hours for showings, and listen to a wide variety of feedback from complete strangers about your beloved home. There is a reason real estate agents work full-time – and let’s be honest, no one likes to hear criticism about their property.
If you hire a real estate agent, make sure they’re established and educated about your neighborhood’s selling points. Ask them plenty of questions. The more confident you are in your real estate agent’s abilities, the less stressful the sales process will be. Circa’s knowledgeable team of approximately 30 agents has a diverse background of experience so that you can find the perfect Realtor® for you!
Complete Home Renovations
Depending on your goals, this may or may not be a part of your strategy. However, if it is, it helps to start early. Major renovations can sometimes take a while, especially when there are supply chain and labor shortages. However, a leaky roof or cracked foundation, for example, can significantly reduce the value of your home and increase the time it takes to sell it. If your home is older and might be in need of some TLC, a pre-inspection can help you discover issues before they impede your sale.
If it all comes down to upgrading your home’s appearance, take care when making choices. Your penchant for vibrant hues or on-trend shades may not be shared by potential buyers. Keep your paint picks neutral and instead focus on staging your home to appeal to buyers’ eyes. Today’s buyers also love popular improvements like professional-grade kitchen appliances, steam showers, and luxury finishes. Curb appeal can also go a long way in making that first impression. Power wash your driveway, trim hedges and overgrown plants, and add some color to your home’s exterior by planting seasonal flowers.
Everybody loves a home with a view, and this high-rise property for sale at 1111 Caroline Street #2814 offers a gorgeous one! Bright, airy environments can add both spaciousness and personality to a home.
Spend some time talking with your real estate agent about what renovations to prioritize. They understand more than anyone how repairs and updates can affect your selling power. Making needed updates can help buyers get past roadblocks that prevent them from immediately falling in love with your home.
Stage Your Home to Sell
Don’t wait for spring – the time to declutter is now! Too many belongings can make your home feel stuffy. Personal items such as family photos can also make it a challenge for buyers to imagine themselves living in the home. Some items may be better temporarily placed in storage.
Make sure your home is clean, organized, and presentable for tours. To show off your home’s space, you’ll want to make sure the floor is fully cleared and consider rearranging furniture. Take a few minutes every day to tidy up – and don’t forget about Fido’s toys! You never know when a potential buyer may suddenly want to see your home, so keeping up on the little things is important.
If you’d rather leave staging up to a professional, your real estate agent will be able to refer you to a home staging company that can make your rooms look like something out of a magazine – although this will come at a cost. The budget-conscious may want to DIY staging with a little help from Pinterest.
Circa agent Diana Dao owns her own staging company called Maven Home Solutions and would love to help you make your home shine! Contact her today for a consultation.
A simple vase of flowers adds charm to this home for sale at 1203 Edwards Street.
Moving Prep
There is nothing wrong with packing boxes early. In fact, this process can help you in staging your home. However, moving is a whole lot more than just packing boxes! Early on, you should research the cost to rent a truck or hire a moving company. These costs can add up fast, especially if your new home isn’t local. And in a seller’s market, you could potentially have very little time from list to close to prepare for your move.
Closing Obligations
As the seller, you are responsible for a handful of closing obligations. First, if you are obligated to complete repairs as a condition of the sale, make sure you’ve done these and have obtained any applicable certifications. As a seller, you’re also obligated to submit disclosures about any known issues with your home that could affect its safety or value. Also make sure that you understand seller closing costs. These can sometimes reach up to 6 – 10% of the cost of the sale, taking a chunk out of your profit.
Once you’re ready to finally say goodbye to your home, sign the final closing documents, hand over the keys, and close out the transaction. Rest assured that someone else will love your home just as much as you have!Are you looking to sell your home? There’s a lot that goes into the process! My decades of real estate experience and extensive knowledge about Houston and near-town areas have helped me sell countless homes, and I can help you sell yours too. Contact me today, and let’s talk about what the sales process might look like for you!
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