If you’re considering making a move, you’re likely experiencing a mix of excitement over your next home and a sense of attachment to your current one. A great way to ease some of those emotions and ensure you’re feeling confident in your decision is to keep these three best practices in mind.
1. Price Your Home Right
The housing market shifted in 2022 as mortgage rates rose, buyer demand eased, and the number of homes for sale grew. As a seller, you’ll want to recognize things are different now and price your house appropriately based on where the market is today. Greg McBride, Chief Financial Analyst at Bankrate, explains:
“Price your home realistically. Buyer traffic may be substantially slower than in the Winter and Spring of 2022, but appropriately priced homes are still selling quickly.”
If your asking price is too high, you run the risk of deterring buyers. And if you go too low, you’re leaving money on the table. I can advise you as to what your asking price should be, but in the end it’s your home and your decision.
2. Keep Your Emotions in Check
Homeowners are living in their homes longer than many in the past. According to the National Association of Realtors (NAR), since 1985 the average time a homeowner has owned their home has increased from 5 to 10 years.
Today’s Homeowners Are Staying in Their Homes for an Average of 10 Years
When you stay in one place for so long, you may get even more emotionally attached to your home. If it’s the first home you bought or the house where your loved ones grew up, it very likely means something extra special to you. Every room has memories, and it’s hard to detach from the sentimental value.
For some homeowners, separating the emotional value of the house from fair market price makes it even harder to negotiate. That’s a big reason you need a real estate professional to help you along the way.
3. Stage Your Home Properly
While you may love your decor and how you’ve customized your home over the years, not all buyers will see or feel it the same way — they have their own ideas, as you’ve had yours. That’s why it’s so important to make sure you focus on your home’s first impression so it appeals to as many buyers as possible.
Staging is the art of preparing a home to appeal to the greatest number of prospective buyers in your market while seeking only one ultimately successful buyer. The right arrangements can support a higher price and help buyers fall in love with your home the moment they walk through the door.
Buyers want to envision themselves and their things in the space so it truly feels like it could be their own. They need to see themselves inside with their own furniture and keepsakes. I can help you with tips to get your house ready to sell.
Bottom Line
If you’re considering selling your home, let me help you navigate through the process while prioritizing these best practices.