Don’t make these mistakes when selling your home

When you are selling your home, you want the process to be as smooth as possible and get the best possible price. Here are the top 6 mistakes that many homeowners make.

March 3, 2022

Underestimating selling costs

Buying and selling homes is expensive so you need to budget for expenses such as real estate agent’s costs (which could be a flat fee, or a percentage of the sale price), marketing expenses (including professional photos),settlement costs, (and stamp duty on any new home you are buying).

Selling your home on your own

It may seem tempting to sell your home by yourself and avoid real estate agents’ costs – but it could cost you more in the long run. Without the research and negotiation skills that a licensed agent can provide, the amount of money you save in fees won’t compare to the amount you may lose on the final sale price of your home.

Overpricing your property

It’s your home so you may be a bit biased when it comes to a selling price, but if the sale price is too high compared to similar homes on the market, it will put buyers off

Skipping the home open preparations

If you don’t present your property looking its very best, it can have a negative impact on the final sale price. At the very least you should:Declutter and remove personal items. Make sure the whole house is clean and tidy. Do some basic gardening such as pruning, mulching, and mowing.  Even if your property is old, showing that the house has been well-cared for leaves a great impression.

Overspending on repairs and renovations

It’s pointless spending $20,000 on repairs and/or improvements to your home if its sale price only increases by $10,000. Talk to a real estate agent before you do anything, to avoid expensive mistakes. Most times they will recommend a coat of paint and some work in the garden.

Trying to hide any defects

That pot plant you’ve stuck in front of a cracked wall isn’t going to fool anyone. And even if it does go undetected, any problems will be highlighted during the building inspection for the buyer.