Home Sellers: 3 Mistakes that Can Stop Your House from Selling
If you are in the process of selling, there are some things about your house that you can’t change as home sellers, like the location or the square footage if you don’t want to undergo a major remodel. However, as home sellers you can do everything in your power to show buyers why your house should be there next home.
As home sellers, it is important to show your house in the best possible way to work towards making a quick sale. Avoiding these 3 common mistakes will help put home sellers on the right track.
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Overpricing
This is one of the largest mistakes made by home sellers. Homeowners have a tendency to allow their emotions to place a value on their house that is higher than the market supports. When potential buyers are looking at your house they are working hard to make a wise, educated decision, not an emotional one. The hard work you have put into your house along with the memories do not hold value for a buyer. They are looking at the tangible, physical features when determining what they are willing to pay.
Some home sellers like to start high because they know that potential buyers might negotiate the price down. However, if you price too high from the start you might just price your house out of the price point of those who will be serious about buying it. If you are over their price point your house will not even show up in their online searches and only certain real estate agents will show clients houses priced over their budget.
A lot can be said for pricing just under the value of your home. This situation can peak interest of potential buyers and has been known to lead to bidding wars. Houses listed using this strategy can end up selling for higher than the home sellers could have dreamed because buyers were willing to present their best offers not to lose the deal.
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Failing to maintain the house
Sometimes when home sellers have placed their house on the market they don’t want to keep putting money into it, especially if they are already moved out and paying the expenses for a new home. There are a couple main areas that home sellers fail to maintain properly that can hurt a potential sale.
Curb Appeal/Landscaping – You might not live in your house anymore, but that doesn’t mean the grass has stopped growing. Overgrown yards are an indicator to buyers that the house is not being taken care of. It causes them to wonder what other areas of the house have been neglected and what they will be getting themselves into it they purchase the house. This also includes making sure to remove any leftover construction debris or yard debris from your yard. When your house is on the market keep performing the necessary maintenance to keep your yard nice, or hire someone else to do it for you, all the way until the closing is final.
HVAC and Plumbing – A problem with the HVAC or plumbing system can be a deal killer when selling your house. When a house is empty it is easy for problems with these systems to go unnoticed. In northern areas of the country, pipes can freeze and burst during the winter, resulting in thousands of dollars of water damage. You do not want potential buyers walking into your home to find a flooded basement or HVAC system that will not maintain a comfortable temperature in your home. If you do not live near your house while it is on the market, consider hiring a Home Watch company to keep an eye on it for you.
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Not having proper lighting at night
While many showings will happen during the day you cannot assume that interested buyers will not drive by your home at night. If your house is on the market during the winter, buyers might be showing up to look at your house after work when the sun has already set. If you do not have proper exterior lighting not only will your house lack in curb appeal but your entry will appear less welcoming as well. You want to create outdoor lighting that invites the buyer to your door and illuminates your yard in a way that creates a sense of security. Add exterior lighting if possible, spotlights to shine on featured areas of your house and make sure the bulbs are all working and that the color they illuminate matches.
If your house is already on the market make any changes that could help bring the right buyer. If you are getting ready to sell you have the advantage to make the best impression on every buyer that visits. Be careful to avoid these common mistakes of home sellers so you don’t miss the opportunity for a potential sale.