Top 5 Things To Know Before Selling Your Current Home

Top 5 Things To Know Before Selling Your Current Home

  • Kimberly Magette
  • 10/31/22

You've spent years living in your current home. Maybe you've raised children or started your career there. Let's say the time has come for you to move from that home. Perhaps you've received a new job, would like to be closer to your family, or need a more spacious home. Whatever your reasoning, selling your home comes with plenty of emotion and stress, so the Kimberly Magette Group would like to make it simpler for you.
To help ease your stress and simplify things, they’ve compiled a list of the top five things vital to know before selling your home.

What is the value of your home?

You've decided to move, and maybe you've even found your next home in a desirable area, but do you know whether you'll be able to earn a profit? Do you have any idea how much your home is currently worth? What about how much you owe on it? Have you made considerable repairs over the years that have increased its value? Knowing the answers to these questions is a massive part of the selling process. When calculating potential profits, you'll also want to consider closing costs, repairs, and agent commissions.
When selling your home, especially if it's a choice and not a situation out of your control, you want to come out on top, not be upside down on your mortgage. However, setting the correct price point for your home is also an essential part of the process. Setting the price right the first time can increase the potential to sell your house fast and for a nice profit.
One of the easiest ways to figure this out is the use a home valuation tool. This simple tool will help give you an idea of what your property is worth based on several statistics and is the first of many steps you'll take.

Do you have essential documents in order?

Information on hand about any major updates and repairs done on the home over the years is vital. These documents often provide essential knowledge in the listing description to make your home more appealing to buyers. What type of paperwork should you gather?

  • Age of roof, any repairs or replacements.
  • Age of central air condition, furnace, and water heater (include any manuals).
  • Age of appliances.
  • Information on home improvement projects: kitchens, bathrooms, windows, etc.
  • Anything that may have required a permit, such as decks, fences, and pools.
  • Your latest mortgage statement, including a pay-off amount.
Having these on hand is not a requirement but often makes things go quicker and more smoothly.

How does the local market look?

Another thing you'll want to know is what the current market is like in your area. Is it a buyer's market or a seller's market? Is it a good time to sell, or could you potentially wait a little bit longer? If you're currently in a seller's market, where the demand for homes exceeds the current supply, you'll likely be good to sell quickly. In these cases, it's more likely that you'll end up with a sale price that's above asking. A buyer's market, on the other hand, could potentially make things a bit more complicated, especially if your home isn't move-in ready. There are several ways to determine this, from simply looking at the current homes available to speaking with your real estate agent.

What improvements do you need to make?

When selling a home, it's often a good idea to get a pre-listing inspection done. While this is not necessarily a requirement, especially if your home is in impeccable condition, it can potentially identify any significant issues a home might have. These inspections have substantial benefits, like the ability to fix the problems on your own time instead of when a buyer asks you to. With any luck, you'll find no substantial issues and can make any minor visible repairs.
Other improvements are often simple and involve a quick refresh and staging before selling. Start outside your home and work on the curb appeal first. Curb appeal is the first thing that buyers will notice as they come up to your home, so it's essential to make an excellent impression. Not only does it draw them in, but it can also increase a house's profits. Curb appeal often includes keeping the lawn trim and any bushes trimmed, flower beds mulched and fresh, gutters clean and void of potential issues, a fresh coat of paint if necessary, and lighting. The little things that add charm are often a big takeaway with potential buyers and lead them to recall your house long after they're gone.

As you move inside the home, you'll want to do simple and quick refreshes that put your house in the best light. These changes include a fresh coat of neutral paint, bringing in natural light by removing old or dark curtains, decluttering the space, deep cleaning, and staging. Start with a nice, deep clean, and you'll only have to keep it tidy, which makes showing the home a breeze. When it comes to staging the home, many choose to hire a company that will do it in a way that best suits the house to make it warm and inviting.

Find an exceptional real estate agent.

Many believe that selling a home for sale by owner (FSBO) is a better way, but having an exceptional real estate agent to work with is a much better choice. Working with a real estate agent will help you get plenty of exposure for your home. The more people that know about your home, the more likely you'll get offers quickly. A real estate agent can also take a lot of the guesswork out of what you need to sell your home, save money on unnecessary repairs, and handle all negotiations and closing paperwork.
If you're ready to start selling a Ballantyne luxury home or a Fort Mill luxury home, contact Kimberly Magette, an experienced realtor in the Greater Charlotte/South Carolina areas.

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