Common mistakes homeowners make when selling their house – let’s take a look.
Selling a house can be a very emotional time, especially if it’s a family home that you’ve been living in for years that you’re selling.
Being prepared for the common mistakes that other homeowners make can help you make sure that you don’t fall down the same rabbit hole, and lead you on to sell your house with ease.
Common mistakes homeowners make when selling their house
We’ve looked at everyday mistakes that homeowners make so you know how to avoid them.
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Emotional attachment
Depending on the reason that you’re selling your house, it can be an incredibly emotional time for you.
It’s best to allow yourself these emotions and recognise why you’re feeling these attachments. If you’re selling your house to move elsewhere, whether it be downsizing or relocating, you can focus on the new start that you’re going to get from this sale and be able to see your house sale as closing an old chapter of your life.
If you’re having to sell because you’re having financial issues, you may find that trying to focus on the positives of your situation can help you balance these emotions. Most importantly, remember that feeling this attachment is valid and allow yourself to feel some nostalgia for your house during the sale.
Common Mistakes Homeowners Make when Selling their House
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Estate agent vs no estate agent
There are positives and negatives to going to an estate agent to sell your house, so looking at both sides will make sure you can make the right decision for your situation. Estate agents can help you get a higher price for your sale, but they will have a fee which is usually 5% of your sale price.
Some homeowners find that they have a great sale with estate agents, but not every house sale is as smooth. If you’ve had previous issues with estate agents or have heard horror stories that have put you off there are other ways that you can sell your house.
You can look at selling your house yourself, but this can be quite intense as you’ll need to do the work that an estate agent would typically do, such as market your house and host viewings. You can save money this way, but you will need to put more time in, so you’ll need to consider what kind of sale you’re looking for.
If you don’t want to be overly involved in the sale but also aren’t keen on going down the traditional estate agent, there are still other options. You can look into quick sale companies, such as We Buy Any House. They can buy your house in as little as 7 days in any condition, and they take care of the paperwork and legal fees too, making the sale as straightforward as possible for you.
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Setting your price – Common Mistakes Homeowners Make when Selling their House
Deciding on a price for your house can be tricky, which is why it’s key that you do your research. Setting your price too high will turn potential buyers away without even viewing it, and going for a price that’s too low can mean that you talk yourself out of some money.
If you go to a traditional estate agent, they’ll be able to do some market research and settle on a good price for your house. If you decide not to go to an estate agent, you’ll need to decide this price yourself. To do this, you can look at the selling price index and get an idea of the average house price in your area.
You should then look at houses that are similar to yours and see if they’re selling for asking price or not. Setting your asking price is a huge part of selling your house, so take some time and make sure that you do it right.
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Expecting your asking price
Setting your price is a big deal, but knowing more about the price is even more important to selling your house. House sales are full of negotiations, and your buyer will almost always try to bring down your asking price somewhat. This will depend on the property market when you’re selling.
If it’s a seller’s market, you’ll likely be able to sell for much closer to your asking price, and if you’re lucky enough to have more than one homeowner putting in offers for your house, they may drive the price up. If, however, it’s a buyer’s market, the chances are that your buyer will put in an offer below your asking price.
You may be hesitant to accept this price, but if you’ve had no other interest in your house, you might need to consider taking below your asking price to achieve your sale.
Being aware from the start of the sale that there’s a good chance you won’t get your asking price for your house will mean you’re not disappointed down the line and will ensure that you don’t reject an offer then struggle to sell the house for several months afterwards.
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Picking the best time to sell
If you have the flexibility, it’s a good idea to time your house sale when statistically more people are looking to move house.
The housing market tends to be quieter in the winter, as homeowners are less interested in moving close to Christmas. This works both ways, however – selling in a quieter time will mean less competition, so you might find it beneficial. The more popular selling times in the year are spring and the start of summer, where there will be more buyers in the market.
There are likely to be more sellers too, though, so you should be aware of this when you sell.
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Bad photo advertising
Your potential buyers will likely look at your house online before agreeing to a physical viewing, so taking the best possible photos is crucial.
Bad photos can be devastating to a house sale, so making sure that your house is clean and tidy when your photos are taken will help you secure your viewers and in turn, a buyer. If you sell with a traditional estate agent, they will usually take professional photos of your house to market it.
If you decide to sell yourself, you’ll need to either hire someone to take photos or take them yourself.
Knowing where others went wrong is a big learning curve and can help you avoid the same mistakes. They’re easy issues to fall victim to, but being aware and knowing how to bring yourself away from these issues will help you achieve your sale with less hassle.
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