So you've decided to sell your house. Before anything else it's a
good idea to sit down and clarify your motivations and draw up a
basic time frame for the selling process.
Congratulations on your decision to purchase a new home!
Before you start your home buying journey it is best to clearly
define and understand why you want to buy. Are you tired of
paying rent? Have you outgrown your current home? Do you want
to shorten your commute? Having a clear sense of your reasons
for buying will help you chose the right home.
Write down all the reasons for selling your home, "Why do I want
to sell and what do I expect to accomplish with the sale?" For example,
a growing family may prompt your need for a larger home, or a job
opportunity in another city may necessitate a move. For your goals,
write down if you'd like to sell your house within a certain time frame
or make a particular profit margin. Being clear about your intentions
for selling will make it easier for an agent to determine the most
appropriate option for your specified financial, lifestyle, and real
estate goals. Work with your real estate agent to map out the best
path to achieve your objectives and set a realistic time frame
for the sale.
You're always better off setting a fair market value price than
setting your price too high. Studies show that homes priced higher
than 3 percent of their market value take longer to sell. If your
home sits on the market for too long, potential buyers may think
there is something wrong with the property. Often, when this
hapens, the seller has to drop the price below market value to
compete with newer, reasonably priced listings.
Where you buy not only affects the home's current and future
value, but it also affects your lifestyle. Your agent will be able to
conduct a more targeted home search if you outline your
preferences in neighborhoods and nearby amenities. Items that
should be considered and communicated to your agent include;
urban, suburban, commute time, school districts, desirable
neighborhoods, proximity to restaurants, retail, airport, and
major highways as well as health care facilities, parks and
length of time you plan to live in your home.
Whether to buy an existing home or have one built is yet another
decision to make during the home-buying process. If you decide
to go with new construction, a real estate agent can be a powerful
advocate in your corner as you negotiate upgrades, a move-in
date and other terms with the home builder. Things to consider in
this area are selecting a builder, using your real estate agent to
work directly with the builder representative, and understanding
the timing of new home construction.