4 Signs You’re Ready To Sell Your Home
April 22, 2022
Considering it was once your investment, deciding to sell your home is a big undertaking indeed. You need to go through several steps and stages to ensure your house is ready for sale.
Now, you might be thinking you’re ready to sell your property but might have missed out on some aspects. This post intends to make this stage of your life easier by highlighting aspects that showcase you’re ready to sell your home. Read on to find out if you’re ready to sell your house.
You’re Ready To List Your Home For Sale If:
1. You Have Prepared Your Home
Before selling your house, it’s always advisable to ensure it’s in good condition; you want to get the best price for your home.
Have an inspector come by and assess the condition of your home. With the inspection, you’ll know the areas that require repairs and total replacements. You might have to change your roofing material should it be leaking or even the ceiling. The aim is to make your home look as new as possible.
In addition to making repairs and replacements, there are upgrades you can add to your home that’ll increase your home’s value quite significantly.
Consider upgrading the kitchen and bathroom since these are the two major spaces potential homeowners look at when buying a home. It’d be best to adopt modern trends and increase working space, especially in the kitchen.
However, it’s best not to go overboard; the spaces mentioned should look homey and not too forced. An overdone home may make clients think they can’t afford the house and move on to the next listing.
A point to note is that the upgrades shouldn’t only be for your interior space. The outdoors matter as well since it’s what clients will see first before walking in.
Therefore, if you have a lawn, mow it, change the flowers, and plant grass. As you acquire new plants, ensure they’re low maintenance, such that the clients won’t view them as a burden. Do the same for your backyard.
It’s recommended to go energy-efficient too. Think of changing your old lights to light-emitting diode (LED) lighting, glazing your windows, acquiring star-rated appliances, and the like.
Going energy-efficient shows clients that they’ll spend less money on energy bills, which is desirable. Consider doing more research to get more info on preparing your home for sale.
Related Resource: 10 Common Home Selling Errors and How to Avoid Them
2. You Have Already Planned For The Move
Planning to sell your home not only involves your current home; it also involves your future home. Where are you going to live once you’ve made your sale?
Thus, you need to have acquired a new space and already paid for it. It’s also good to ensure that you have enough funds to cater for the move.
This is because you might need movers to help with the shifting, pay property tax, and in some cases, neighborhood association fees, depending on where you’re relocating to.
Besides having all these plans for your new home, you’ll know you’re ready to sell once you’ve set a timeframe for the move. You might have acquired the new place and prepared it for occupation, but you’re still stuck in the old home.
This is likely to occur if you’re yet to detach yourself from your current home emotionally. In such a situation, you’ll only move once you’re ready psychologically, which might take time. Nonetheless, you’re more or less compelled to move by putting a timeframe on the move.
It’s good to point out that even if you plan on selling your home, you might opt to stay in your home until you get a buyer. This means you won’t go ahead and acquire another home. In such a situation, you also need to prepare adequately.
It’s best to stage your home properly to allow a client to picture themself in your home. This means putting away your personal items, such as photos.
As you rearrange your home, consider making the space look as big as possible; this means removing any clutter out of the way and using minimal decoration pieces.
Since you need to get rid of clutter, you need to acquire a storage space to hold your items until you move out. You can rent a container whose size accommodates your belongings.
3. You Have Enough Equity
As you sell your home, you want to get the most money from the transaction. Yet you might invest in remodeling your home, get a good sale, and still get nothing out of it. This is due to debt, specifically the home loan for your current home.
You’re ready to sell if you’ve reduced your loan as much as possible, if not completely. Why is this important? With a lot of debt, once you’ve sold your home, the bank will take away its mortgage; what shall you have left?
The amount of money you’ll be left with is known as equity. You want to have as much equity as possible to avail enough funds for your relocation.
4. Your Current Home Is No Longer Meeting Your Needs
For your home to be a viable investment, it needs to meet all your needs without exception. Life is prone to change as years go by, meaning your needs will also change with time.
You might have acquired your current home when you were a couple via a mortgage, and you now have several children. If there’s no longer enough room to accommodate you all, it’s time you sold your home and acquired another one. Maybe one with a bigger living room and kitchen, or one with one or two extra bedrooms.
Lifestyle changes could also be another factor. You might need a gym or a pool in your home, and the current space can’t accommodate that. You might be aging or are now hosting your aged parents in your home as well.
It means you need to create room for them, probably on the ground floor, to avoid possible falls and injuries as they climb stairs. With these new needs, you’d need to sell your home and acquire another one that suits your new needs.
Conclusion
This content feature has discussed signs that’ll help you gauge if you’re ready to sell your home or not. Therefore, before listing your home for sale, use the information herein as a checklist.
It’s advised that you don’t put your property up on sale until you’ve ticked all the boxes; you don’t want a client to come to view your home in the middle of the painting. If time is a factor for this client, they’ll move on to the next available house that’s ready, which is undesirable.
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