Selling your first place is the kind of milestone that calls for celebration once the papers are signed, the keys are handed over to the new owners, and you’re ready to start a new life in a new place. However, before all that can happen, there are a few important things that any first-time home seller should know.
Don’t know where to start? We’ve compiled a list of five things for you to keep in mind to make the home selling process happy and stress-free.
1. Get the help you need
Selling your house can be a long and trying process. It can feel like a lot of work really quickly without professional help. Don’t make things complicated for yourself just to save some money – as they say, you have to spend money to make money .
Why hire a real estate agent?
You’ll have peace of mind when you’re working with an agent you trust, where communicating with about selling your house comes easily. The agent you decide to employ should be reputable and experienced. You’ll need to do your research and interview potential candidates, which can be time-consuming.
Why not go for a smarter, simpler, and time-saving route? Find the perfect real estate agent for you through Ohmyhome’s agent service. Our knowledgeable agents will provide you with insight into the current property market in your area and advise you based on current and accurate data regarding the current housing climate. Friendly and approachable, our agents take care of all the necessary and often complicated documents that need to be filed while keeping you in the loop.
2. Invest in improving your home’s appearance
Depending on the market at the point of time you decide to put your house up for sale, the demand and supply can change. This is why it’s important to make sure you create an appealing look and feel before any house viewings if you want to sell it for top dollar.
The importance of decluttering
If you haven’t moved out of the home you’re selling, it’s important to make sure that you declutter all the bedrooms and shared spaces such as the bathrooms, living room, dining room, and kitchen. Don’t forget those junk rooms and closets. Decluttering also means cleaning the spaces.
During a house showing, potential buyers would often like to see all the nooks and crannies of your house. Nothing is off-limits, so a clean home is a must. Plus, it will make it easier for potential buyers to see the amount of space they will have once the home is theirs. You should also remove personal items, such as family photos, to help potential buyers imagine themselves living there.
Looking for a way to show your property during the Movement Control Order? Consider virtual tour, which you can do on your own. You can also upload your video home viewing on the Ohmyhome platform.
Repairs and improvements
Have you been ignoring the chipped paint in the living room, rusty gates that should have been oiled months ago, and the doorknobs that don’t lock? Before you invite potential buyers into your home, take a walk through and make note of everything that needs some TLC. You don’t have to do any major remodeling, just change old light bulbs, fix anything damaged, and make sure the plumbing is all good. You should also note that any problems should always be disclosed to potential buyers.
An extra step you can take is repainting the house in a neutral tone, getting the grass cut, and planting some flowers if you have a yard. Again, remember you have to create curb appeal, showing the potential new owner that this is a beautiful and clean space to live in. You should keep in mind that even after the contract is signed, you’ll still be spending money fixing a few things here and there until you walk away for the last time.
3. Prepare your exit ahead of time
It’s important to remember that once you’re sure that you want to sell, every decision you make regarding the house or apartment is a business decision. You have to keep in mind that you’re about to sell property, not a home. So, it’s best to minimise any emotional attachment and avoid having it influence your decisions.
Specify what you’re leaving behind
Some things are specific to the house like furnishings and fixtures. It can be very tempting to take a light fixture that came with the house because of the memories associated with it. However, anything that is affixed to the walls, floors, or ceilings of the house is considered part of it. Consider leaving it behind because it could be a selling point. But if there is something that you do want to take with you, something you put into the house, make sure you put it in writing that you’ll be taking that with you.
Estimate the potential profit and loss
Your heart will surely start to race as all the offers start to come in. But before reviewing any of them, you should have a firm understanding of the cost that you’ve spent or will continue to spend on selling this house.
The acceptable selling price should range somewhere on the line of your evaluated gains and losses. Keep in mind the legal fees and Real Property Gain Tax (RPGT), as well as the additional settlement charges on top of the repairs and landscaping you’ve already done. If your mortgage is still going on, the payment will have to cover it.
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