Homeowners who have bought and sold several houses over the years certainly gained a lot of experience when it comes to real estate. Here is some of the wise advice they would offer to those just entering the property ladder.
1— Don’t List at Too High a Price
It may be tempting to make as much money as you can by selling a property, but sometimes the realities of the market or the house’s lack of assets mean that you will have to be less ambitious. You may want to list your residence at a price that far exceeds the value of comparable homes in the neighbourhood, but you might be shooting yourself in the foot! It could slow down visits or even stop them altogether. And without visits there can be no sale! The best thing to do is to follow the broker’s recommendations; they will carry out a thorough analysis of the market and determine a price that is fair for everyone.
2— Emotionally Detach Yourself from Your Home
Some homeowners are attached to their first home. This is perfectly understandable as it holds so many memories! However, when the time has come to move on, it is better to separate oneself emotionally from the property in order to avoid minor frustrations. For example, don’t let negative visitor feedback bother you. And be open to any advice your broker might give you about repairs or improvements you should consider carrying out to speed up the sale.
3— Don’t Stop Looking Even if You Think You’ve Found The One
There is nothing like finding the house of your dreams but take care that your love story doesn’t turn into a nightmare! Distracted by all the excitement, the visitor will turn a blind eye to the aspects of the home that are obviously unsuitable to their needs. It is only after signing the contract that buyer’s regret sets in. Experienced property owners recommend that you visit several homes before making a purchase offer and, above all, to do so after careful consideration.
4— Depersonalized the Space
A house sells faster when it is depersonalized, that is, when it is not cluttered with all the owner’s personal possessions. While those who are used to viewing homes know how to ignore such items, consider removing your kids’ drawings on the fridge and your collections of family pictures and trophies from every room. However, the house should still feel like a home; there is nothing charming about empty rooms. The solution is to base yourself on hotel room decor, which has an impersonal yet warm atmosphere.
5— Stay Within Your Budget
Before you go out house hunting, contact your financial institution to find out exactly how much they are willing to lend you (your mortgage). The amount will depend, of course, on your credit score, any debts you already have, and your income. This way, you will have a good idea of the price range you can afford. Experienced homeowners recommend that you never exceed it, and even choose a home that is under your budget to avoid becoming financially burdened.
Your a first time seller or buyer and have any questions or concerns? A RE/MAX broker will be able to support you and guide you through the purchase or sale process. A broker’s experience is worth his weight in gold!