Most people see their home as a financial investment, and rightly so. Buying and owning a home is a big deal, because it is your own property that you will potentially occupy for many years to come. And, as with any dwelling, the memories you share in it also impacts how and when you decide it’s time to move. On average, home owners will stay for up to a decade before getting to that point. And when that happens, it can still be an emotional roller coaster to sell the property.
In selling your Naperville home, you have to be smart in your approach. Let your agent help you during this process so you can avoid making rash decisions based off of the emotions you have regarding your sale and subsequent move from your house. That way you’ll avoid the following 5 mistakes when listing your home:
1. Having an unrealistic view of your home’s worth. It might sound harsh, but what you consider the home’s value to be is not always what it can actually sell for. Discounting the memories you have, or any work you might have put into it over the years, your agent, as well as potential buyers, will be looking at the market as a whole, and making a determination on the home’s value based on the average of the location, size, and other homes in the neighborhood. Unfortunately, this also means that property values go down over time, which may mean that yours will be appraised lower than you’d like. Even so, the lower price to list your home may make all the difference in gaining buyers’ interest in it.
2. Ignoring the condition of your home. From inside to out, the way your home looks to others is a first-impression you don’t want to ruin. If you do, you can’t get that back. Paying attention to detail in how your home looks – including renovations, cleaning, and straightening – are important steps to making it ready for listing, showing, and selling. Think of it as another way to show others why your investment is so good! Even the simplest of changes can improve the home in your favor, or make it look that much newer or sturdier. After all, you want it to stand out – and for all the right reasons. That’s how you draw potential buyers from all over Naperville and beyond.
3. Not disclosing pertinent information about your home. It’s understandable you don’t want to detract potential buyers from your home by bringing up any issues or flaws with it, but at the same time, you don’t want to completely hide anything that could be serious enough to cause negative repercussions. Your agent can help you determine what’s worth discussing up front, and even what you could fix before even listing your home. The thing is, some flaws are inevitable, and homes do have problems as years go by. Potential buyers know this and accept them as part of the home buying process. They understand that nothing is perfect.
4. Get a professional agent for negotiations. Maybe you negotiate just a little, or not at all. This is where you need a professional real estate agent who is an ace negotiator; the final selling price might be a few thousand dollars higher or lower, depending on what happens during your negotiations with potential buyers.
5. Failing to have a plan B. Unfortunately, not everything about selling a home can go the way you planned. Because you are dealing with people who all have different stakes in your home – from you, to your agent, to every potential buyer – it is bound to get challenging at any point during the process. There will be questions to answer, work to be done, and concessions to make. You will have to accept the changes, solve problems, and be patient. Sometimes things will go one way, and you think a sale is eminent. Then suddenly, the buyer backs out. What do you do then? Or, what if your needs change, affecting the outcome the sale of the house? If you’re not prepared for any pitfalls, you may not be up to whatever suggestions your agent gives you, or you may even try to make desperate decisions that end up costing you more money and time in the long-run.
Contact Teresa Ryan at 630-276-7575 or on email [email protected] today. As a full service real estate brokerage, Teresa and the Ryan Hill Realty team are always ready to assist you with the sale of your Naperville condo, townhome, single family home, luxury home and more.
Would you like to find out how much your home is worth right now? CLICK HERE to visit Ryan Hill Realty's Chicagoland Home Calculator for an immediate home value analysis.
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