Selling your first home: Is it ready to sell?
Tuesday, 17 March 2020
Whether you've outgrown your first home or have fallen in love with a new one, you're probably a bit anxious about selling. It's a big step, one you've never taken, so of course you want to get it right.
Here are some tips and ideas for preparing your house — and yourself — for the home-selling process.
Getting your house ready
While it's important for your home to attract potential buyers, you don't want to overspend on getting it ready to sell. Here are some of the most cost-effective ways to prepare it for a close-up:
- Remember, first impressions count. Since it's the first thing potential buyers will see, the exterior of your home should be pristine. Cleaning your yard, pressure-washing surfaces and investing in some shrubs and flowers can boost curb appeal and make your home more inviting.
- Stage your home smartly. Staging, which is simply arranging your furnishings to appeal to buyers, is a popular — and productive — sales tactic. Many sellers hire professionals to stage their home. Some do-it-yourself staging tips include removing clutter and personal items, making sure everything is squeaky clean, letting in as much natural light as possible and removing unnecessary furniture to make rooms look bigger.
- Ensure everything is in tip-top condition. Buyers notice broken windows, rotting wood and dripping faucets. Even little problems can scare buyers off. Take the time and spend the money to make general repairs around your home, but steer clear of any extensive remodeling. Making the right cosmetic updates, such as replacing worn carpet or painting a room, can be enough to make your home attractive to buyers.
Getting yourself ready
Selling a home can be a challenging process. Making a few key decisions before putting the “For Sale" sign in your yard can save you some headaches down the road. Here are some suggestions:
- Decide on a real estate agent or broker. Many people sell their homes on their own, but because this is your first time selling, you might want to consider working with a professional. You will have to pay a commission when your home is sold; however, you'll reap some valuable benefits along the way. An experienced agent will know the area and the market, enabling them to price your home properly. They will also have a marketing system in place, which will help get potential buyers in the door faster. And because they are experienced negotiators, they can help you get top dollar for your home.
- Or, gear up to sell it yourself. If you decide not to use an agent, there are a variety of websites that offer tools and information to help you list and sell your home. You should carefully research home values in your area first, so you can price your home correctly.
- Focus on your next home. Putting your first home on the market can be an emotional experience as you're selling something that represents an important milestone in your life. It can be helpful to view selling as a business transaction — and also focus on your next home — in order to keep emotions in check during the process.
The content provided is for informational purposes only. Neither BBVA USA, nor any of its affiliates, is providing legal, tax, or investment advice. You should consult your legal, tax, or financial consultant about your personal situation. Opinions expressed are those of the author(s) and do not necessarily represent the opinions of BBVA USA or any of its affiliates.
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