Putting a house up on the real estate market for the first time can be a stressful experience. From finding a real estate agent to preparing an open house to attract potential buyers, it can be very easy to lose track of everything. And when certain details get overlooked, it could spell the difference between a good and bad listing. Here are three things to double check before hammering in that ‘For Sale’ sign on the front lawn.
Assess the market conditions.
The housing market can be an extremely finicky playground, second only to the stock exchange. Although that might excite people in the business of buying and selling homes, a dynamic market could be very tricky to navigate for the average Joe.
Determine whether it’s a good time to sell by researching the current market and benchmark a few local listings that might be similar to your home. This can help you get a feel of the latest real estate market conditions. The last thing you want to do is to sell your house at an underpriced value due to the market trends.
Determine whether repairs are needed.
It takes more than a well-manicured lawn and a fresh coat of paint to say that a home is ready for sale. While some real estate agents will be more than willing to work in a house that shows some wear and tear, a house will sell much faster and at a better price if everything is in good shape.
Evaluate the structures of your house and take note of any items that need repair. It isn’t necessary to undergo a full restoration of the house, especially since it might not be in your budget. Don’t neglect simple fixes; the devil is always in the details.
Things that often gets overlooked are plumbing, wiring, and even the heating. Any plumber in Toronto you can find with good reviews is likely to be able to handle a plumbing home inspection. The same goes for other inspections. If you need electrical services, use reviews to find any well-regarded licensed electricians in Toronto.
Start looking for your next home.
There are many things that need to be taken into consideration when selling your home. Apart from preparing your house to be put up for sale, you also have to start thinking about buying a new one. After all, if you end up selling your home first, you might end up with no place to live until you find the right property.
On the other hand, you might get stuck paying for two mortgages if you buy first before you close a sale on your existing property. It’s best to review your options before you make the big jump. Do you need to get a temporary rental while looking for a new home?
Do you need to consider getting a bridge loan from the bank to help tide things over? It’s best to get in touch with an expert you can trust if you need help and run things over with them to help you make the best decision that works for you and your circumstances.
Keeping these three things in mind while putting your house up for sale guarantees peace of mind throughout the entire process, and saves you from the hassle that usually accompanies first-timers in the real-estate business.