Our home is usually the most expensive thing we own, so it’s vital that we maximise the price that we sell it for. But so many people don’t do this. They lose out on money, hand over first because they make the following mistakes. Read on to find out what they are and how you can avoid falling into them when you are selling your property,
Poor Interior Decor
One of the biggest issues that prevents the sale of a property is poor interior decor. Home shouldn’t just be a blank canvas but should be staged to sell. It works in a similar way to how they dress show homes. They are not left blank because it’s too hard for potential buyers to picture themselves living there.
So to dress you home for sale, you need to think about three different elements light, space and colour. Light is important because the more light a room is, the larger it seems. Which of course gives the impression that the buyer is getting more floor space for their money. Create light in a dark room buy using voiles instead of a curtain, which gives privacy but still lets the light through.
Next, space is essential because clutter can make a room seem small and pokey. Use the minimum furniture to give an impression of the room’s purpose, but do not overfill. For example in small bedrooms include a single bed and bedside table. Store clothes elsewhere.
Lastly colour can be a bit of an issue when selling a home. No matter what colour you use, you cannot please every potential buyer that come to visit. Therefore the best thing is to stick mainly to a neutral pallet, executed in luxurious fabrics. If you simply must have just a little colour. Then pick this season’s colour trend and insert it into the neutral room in the form of an occasional vase or throw pillow.
Try To Sell It Yourself
Another major mistake that you need to steer well clear of is trying to sell you home yourself. Of course, the extra money that you will save by not having to pay estate agents fees sounds appealing. But in the long run, it’s just not worth it. Trust me.
Firstly estate agents sell house all day every day, so are bound to have a much better understanding of the system than you are.
You also need to make sure that you are asking a realistic price for your home. It’s all too easy to be too emotionally close to the property is you have lived there for years. That is why you need someone objective, that is knowledgeable about the market to come in and value your property.
Be Clueless As To The Value
As we all know, in practice property prices go both up and down. So that means your home could be worth less or more than you originally paid for it. What ever its worth, make sure that you know before you put it on the market by getting 2 or 3 valuations from different estate agents. If you are wondering whats involved in the valuation process, you can find out from Entwistle Green.
Sellers waste a lot of time hoping that someone will fall in love with their property and pay what they are asking when it’s not worth that much. Buyers won’t come and visit your property if it is on for too high an asking price. This is because they will be comparing yours to others in your area. If you home is massively over process, it will just be disregarded.
Of course, you don’t want to underprice your home either. While it is tempting to close a quick sale, it often makes potential buyers suspicious if a property is priced way under its market value. They can feel that there is something wrong with it that they are just not seeing.
Don’t Bother To Clean
If you were selling your car, you would wash it and hoover out the inside right? Well, why wouldn’t the same apply to your much more expensive house?
It is common that people get into the mindset that they are moving soon, so they don’t want to put too much effort into deep cleaning the property. The problem with that is that you could be losing money by not making it look its best.
A clean property will look much more appealing to potential buyers. It can also look more spaces and lighter as well.
Not Having a Back Up Plan
Another major difficulty that homeowners come across during the selling process is not having a backup plan.
It’s easy for deals to fall through if the buyers are part of a chain, and then you can be left with no capital to pay for the property you are moving into.
It’s also common that your sale goes through successfully, but the sale of the property that you are buying falters. This can leave you in a real bind because you have nowhere to go, but your buyers want to move into their new home.
This can mean that you will need to put your belongings into storage and live with friends or relatives for a while. Or you can get a short term let. But make sure that you have investigated these possibilities ahead of time and have cost them up.
Refusing To Negotiate
It can be frustrating not to get the asking price for the property you are trying to sell. But it’s essential that you don’t lose out on a good profit just because of pride.
Sellers often fix their mind on their asking price. Especially when they have made sure that the interior and cleanliness of a property has been sorted. But remember that a small negotiation in price can save you more money in the long run. This is because you will get a quicker sale and then be able to go for the property that you have your eye on.