To many people, the largest single investment they have is their homes. Because of this, selling may become emotional and compromise the entire sale process. As an investment that you have taken years to build, every effort should be targeted at getting highest ROI. The following are top 5 mistakes that property sellers should avoid.
(i) Selling property without an agent
Though the commission paid to property agents may appear much, thinking of selling on your own is one of the greatest mistakes. Property agents understand the market very well, use a wide network to market property, and have a lot of experience in the sale procedure. Therefore, the house will sell faster and fetch the highest possible price based on the latest trends.
(ii) Not being unrealistic about the selling price
While it is indeed true that you have used a lot of money in the home on sale, the cost will be guided by the market forces. For example, many homeowners use the wrong the formula to get the current value (the price they bought the house + cost of repairs + amount paid to handyman). While you can use any method to estimate the value of the house, the best approach is checking the price of other similar houses, using a valuation expert, or seeking the assistance of the sales agent.
(iii) Not adding value to the house before sale
Though the house on sale might look okay, failing to make it more attractive could bring down its value and give you very low ROI. It is important to check the status of the roofing, walls, bedroom, and even kitchen with an objective of making them more attractive. You should also revamp the landscape to make it more appealing and guarantee the user he will enjoy cool fresh air every night.
(iv) Not designating some space for health and fitness
Because the modern house buyer is so much concerned about fitness, homes with some places designated for physical activities will get better prices. Remember that this does not need to be a full room like the living area, but a small section where a treadmill can fit or the kids can skip using ropes. If there is a spacious compound, you can make trails to use with the best entry road bike.
(v) Hiding some truths about your property
If you want to enjoy more from the house on sale, failing to tell the truth about it will only land you into greater problems. For example, you should tell the truth about the price you bought the house, the basement, and walls among others. If you lie about the basement and roofing, the chances are that the new buyer will find out sooner than later and you might be embroiled in lengthy court battles.