A home is a cascade of aspirations. It stands as a confluence of emotions, dreams, hard work, savings, time, energy and a lot more. Selling your space can be emotionally challenging and in such a situation, fetching the best price for your home can be a task. However, if planned well, one can get the best for property and invite better days in the future. In this blog, we are going to have a look at some of the common mistakes people commit while selling their home and how they can be rectified.
Carelessness and errors while selling a property can be disturbing and reflect for a longer period in life. It can disturb one’s peace-of-mind, financial routine, and other vital aspects. Hence one must start from scratch like – preparing a list, making repairs, finding a buyer, navigating the closing processes, moving into a new place and so on. This process has to be well thought and has to be well executed. Each step leads to a better selling out of a property.
One of the most common mistakes that people do is fixating on a particular price. They feel that’s the price the home deserves. The price you want and what the market will pay can be two very different things. You might hear the term Fair Market Value, which refers to how a home is valued when both the buyer and seller are reasonably knowledgeable about the property and neither is under any pressure to buy or sell. Valuation of your home must be done on various key points. The market price of the property, repairs involved, agent fees, brokerage and all such aspects have to be taken into consideration before fixing a price for your home. Also, one has to decide if there has to be any breathing space for the buyer to negotiate. Usually, price tags are set higher than the regular price of a property for buyers to allow some negotiation and to help both fetch the best deal. This can also be termed as finding the sweet spot which helps both sign a deal on the benefiting side.
Ignoring Major Repairs
A long list of maintenance issues can turn buyers off and potentially decrease the value of your home. More importantly, buyers expect the condition of your home to be neat and ready to shift. Repairs demand time, energy and money for setting things functionally right. In such a scenario, where the buyer is expecting a ready to move home, can turn off the deal owing to the mentioned factors. Hence while selling a home, one must try to list a home that is fully functional and has zero repairs to be made. Such a home can also fetch more price as compared to a house which has repairs and needs maintenance. Your home has a better sales appeal with cleaner, less cluttered, and well-decorated ambience. In fact, staged homes sell 88% faster and 20% more than those that aren’t staged.
Another mistake that people unconsciously don’t factor in is the additional costs. While selling a home, the additional costs include – agent’s fees (if hired), repairs, rent of your new place, transportation and so on. One must be completely aware of such costs to properly plan before selling a home. Relocating to a new place can be a task and also includes additional expenditure.
At Pyramid Lifestyle, we make sure that every home that the customer owns reflects precision, purity and panache in totality whether they are buying a home or selling it. We see to it that these common mistakes don’t find any home here with our sales & after-sales team offering their selfless support, and the spaces here are reserved only for wise choices and happy memories.