Things You Need to Consider Before Selling Your House

Mike Page's picture
Authored by Mike Page
Posted Saturday, January 25, 2020 - 6:35am

Selling your house can be a challenging experience. It isn’t anything like what you see in the movies where a homeowner can simply put a “For Sale” sign on the front and just count the days for a buyer to purchase your home. In the real world, there has to be proper preparation, planning and decision-making involved if you want your home to stand a chance of being sold. Whether it’s your first time or the fifth time selling your home, there are several things you need to consider before you sell your house.

Research the Housing Market in Your Locality

Whichever part of the globe you may be situated in, it would need several years of staying in a particular locality before you can get a general idea of the housing prices in your neighborhood and the local economic situation. It is always a good idea to do some research and study the housing activity in your area. In Central Europe for example, there is a trend of increasing real estate activity and a flourishing market for houses, especially with Brexit drawing close. If you are living in Slovenia, you’ll be pleased to know that the price of houses for sale in Slovenia has changed over the years. Also, your research will tell you that this trend is not only happening in Slovenia, but in other parts of Central Europe, Eastern Europe and Western Europe. For comprehensive data for local and regional housing statistics, you can also check the European Association of Real Estate Professions (CEPI).

Establish a Reasonable Asking Price

It is important to set the correct price for your home when selling it. You need to be logical, rational and up-to-date when it comes to setting the price of your home. Do not anchor your listing price on your home’s previous value or be influenced by your emotions when it comes to pricing decisions.

If your locality has a “hot” market, there are more buyers than sellers, and prices are following an upward trend due to that demand. In this situation, you can apply an aggressive approach to your pricing, but be sure to remain within the reasonable price limits. On the opposite end, a “cold” market can mean that buyers tend to be more selective. Your pricing approach can be leveled at market value or slightly below it to attract potential buying offers.

Hire a Reliable Real Estate Agent

Again, research and doing your homework can be useful if you are considering employing the services of a realtor or real estate agent. Interview at least two realtors to have a wider range of options and ensure that you are choosing the best possible real estate professional.

Depending on your current resources, you may hire additional professionals to aid in the fast selling of your house. You may want to include a home inspector, closing attorney, landscaper, handyman, painter or photographer. If you prefer doing things yourself, make sure to understand state laws regarding the sale of real estate. The locality where your home that is for sale is located can have specific laws and conditions that can affect the value of the home if these are not complied with properly.

Increase Your Home’s Selling Appeal

Making your home attractive and ready for selling can take several specific tasks to accomplish. Get rid of the clutter from your home and retain your unique internal decoration and design ideas to give potential buyers an idea on what they can do with the various spaces of the house to meet their own specific lifestyle and preferences. You don’t have to spend a great deal on renovation if you know that your home is still structurally secure. It is highly advantageous to have a home inspector inspect your home and suggest areas that need to be approved aside from your own assessment of certain areas that need renovation. Revitalizing your home can just need minor renovation touches like a fresh coat of paint or minor repairs. Also, the external aesthetic appeal of the house like the landscaping can play a big role in achieving a good first impression for potential buyers.

There can be several things that can be factored in before you can finally consider your home ready for selling. The housing market is dynamic, and you have to be updated with the trends and statistics of the locality of the home you’re selling. Also, you as the seller need to exert some effort in making your home presentable and acceptable for selling. Thus, it takes a strong resolve and willingness to make the necessary changes in order for you to see the successful completion of your home selling journey.