If selling your house and relocating this year is a priority for you, it’s common to experience a blend of anticipation for the future and nostalgia for your current home.
A great way to balance those emotions and make sure you’re confident in your decision is to keep these three best practices in mind when you’re ready to sell.
To ensure confidence in your decision and manage your emotions effectively, it’s essential to follow these three best practices when you’re prepared to sell your home.
1. Price Your Home Right
In 2023, the housing market experienced a shift with rising mortgage rates and a normalization of home price appreciation. As a seller, it’s crucial to understand the significance of pricing your house appropriately in line with the current market conditions. Hannah Jones, Economic Research Analyst for Realtor.com, explains:
“Sellers need to become familiar with their local market and work closely with a local agent to make sure their listing is attractive to buyers. Buyers feeling the pressure of affordability are likely to be pickier, so a well-priced, well-maintained home is the ticket to drumming up big demand.”
Pricing your house too high can deter potential buyers, while pricing it too low means leaving money on the table. An experienced real estate agent can assist in determining the optimal asking price to ensure your house sells quickly and for maximum value.
2. Keep Your Emotions in Check
According to the National Association of Realtors (NAR), homeowners are staying in their houses longer compared to previous years. Since 1985, the average tenure of homeownership has increased from 6 to 10 years (see graph below):
Staying in one place for an extended period can lead to stronger emotional attachment to your home. This is especially true if it’s your first home or where your family has grown up. Each room holds memories, making it challenging to detach from its sentimental value.
3. Stage Your Home Properly
Ensuring your home appeals to as many buyers as possible is crucial, even if you love your decor and customized features. Focus on creating a positive first impression to attract potential buyers who may not share your taste.
Buyers need to envision themselves living in the home, which means they should see their own furniture and personal items, not yours. As Jessica Lautz, Deputy Chief Economist and Vice President of Research at NAR, says:
“Buyers want to easily envision themselves within a new home and home staging is a way to showcase the property in its best light.”
A real estate professional can provide expertise in preparing your house for sale.
If you’re thinking about selling your house, let’s connect to ensure you have expert guidance through the process while focusing on these essential steps.